B—l [Ft. IV]

SMALL FARMS SCHEME— continued COMBINED SECTIONS— continued Balance-sheet as at 31st March, 1948 Liabilities Assets £ Capital accounts : Liability to Consolidated Fund Leased land .. .. .. .. .. 905, 250 under section 6, National Development Loans Unleased land .. .. .. .. .. 2',267 Act, 1941, for funds provided by— £ £ Blocks under development :—■ Consolidated Fund .. . . ~ 39,000 ' Purchase-price of areas being developed, Land for Settlements Account .. .. 8,704,506 including value of education-endowment £ War Expenses Account .. .. .. 4,842 land set aside .. .. .. 5,250,122 ' ■ 8,748,348 Gross capital expenditure on development .. 3,854,172 Lapital reserve : Special assets taken over at book value .. 39,453 Expenditure on live-stock and farm working.. . 975,141 Reserve for losses on development of land for £ Chattels (including store buildings) .. 278,281 ex-servicemen . . .. .. 750 000 ' T , £ 10,357,716 .Losses recovered to date . . .. 52,780 Less value of land, &c., disposed of— £ Less from War Expenses Account.. 1,789 Unimproved value .. .. 284,222 50,991 Improvements .. .. 832,399 a , 699,009 1,116,621 Subsidies- 9,241,095 Employment Promotion Fund .. .. 504,294 Compensation for land taken (recoverable on selection) .. 34,720 Consolidated Fund .. .. .. 605,550 Loan to Napier Harbour Board— £ • 1,109,844 Ahuriri Lagoon .. .. . 35 089 Loan from' Social Security Fund .. .. .. 3,161 Accrued interest .. .. 11599 Land donated . . . . .. .. . . 368 | 46, 688 Land set aside for small farms : Education endowment lands 12,372 Water-supply schemes : Headworks .. ' .. 26^335 Creditors £ Advances to small farm occupiers— ent ■ ■ • • • • • • .. 25 Current Account— £ Miscellaneous (departmental, &c.) .. .. 75,360 Improvements .. .. 17,354 — 75,385 Stock and chattels .. 29'343 Water Supply Account: Maintenance .. .. 1,333 46 597 Blocks in course of disposal (not finalized) .. .. 41,486 Instalment mortgages .. .. .. 321 353 Payments in advance— £ ' ' J ggg q^q ? e . nt . ;' '•■• • • : • 342 Advances under share-milkers' agreements ... . ' 722 Principal : Instalment mortgages .. .. 202 Dairy company shares .. .. .. . . 663 Interest £ Lime company shares .. .. .. 30 Instalment mortgages . . . . 433 £ Current Account . . . . 35 Deposits held by dairy companies .. .. 945 468 Less reserve .. .. .. .. 136 Water levies 331 • 809 •- 1,343 Realization Account ; Leased areas in course of realization .. 4,720

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