ALEXANDER TURNBULL LIBRARY ENDOWMENT TRUST BOARD

Turnbull Library Record, Volume XIII, Issue 1, 1 May 1980, Page 60

ALEXANDER TURNBULL LIBRARY ENDOWMENT TRUST BOARD

Income and Expenditure Account for year ended 31 March 1979

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NOTES TO ANNUAL ACCOUNTS

1. Statement of accounting policies; general principles The general accounting principles appropriate for the measurement and reporting of income and expenditure under the historical cost method, as set out in the New Zealand Society of Accountants’ statements have been adopted by the Board in so far as they apply to the business of the Board. Valuation of investments: Investments in shares are stated at cost and have not been written down where market value is lower.

2. Prepayments Payments of $2,002 made in advance on “Death of Cook”. 3. Term deposits $12,688 held at BNZ at 7.5% p.a. for 3 months term.

4. Debentures $40,000 invested with UDC Holdings Ltd at 12.6 percent p.a. redeemable 1983. 5. Shares in companies Number of Value at Market value Company shares cost 31-3-79 Preference shares: $ $ NZ Insurance Co 4000 4,637 5,400 TNL Group Holdings 5000 4,206 3,250 J. E. Watson 2000 3,610 4,300 Ordinary shares: Challenge 2000 3,400 4,100 Crown Consolidated 2000 4,260 5,000 Fletcher Holdings 4000 8,770 8,800 Independent Newspapers 2500 4,998 3,075 NZ Forest Products 4225 11,460 10,056 NZ Insurance Co 1282 3,250 3,205 NZ Motor Corp 4000 4,400 4,600 South British Insurance 2200 6,030 6,556 TNL Group Holdings 1000 540 860 59,561 59,202 6. Profit on sales of reproductions 1976177 1977178 1978179 $ $ $ Fox 304 351 57 Fox Portfolio 780 830 1,101 Barraud 124 62 59 Harris 711 1,158 1,419 Maplestone 937 1,087 243 Bridge 230 188 366 Thermal 541 177 7 Mein Smith 1,635 1,767 1,675 Angas ( 765) 2,658 915 Gully 2,212 1,659 1,515

Colonial Wellington 2,565 2,432 1,694 Gold 3,048 1,642 1,271 Heaphy Earle 12,322 17,545 17,111 7. Profit on sales of publications 1976177 1977178 1978179 $ $ $ Turnbull Biography 74 (13) (18) Wakefield Journal ( 149) ( 30) 24 Duperrey ( 78) ( 81) 100 ( 153) ( 124) 106 8. Grants A grant for $5,000 was received from the Lottery Board. 9. Purchases Purchases are an expense item. The articles purchased become part of the National Library Collection. 1976177 1977178 1978179 $ $ $ Paintings, drawings, maps 44,379 25,123 5,000 Books, papers, letters, manuscripts 6,661 6,159 6,590 51,040 31,282 11,590

REPORT OF THE AUDIT OFFICE The Audit Office, by arrangement, has audited the accounts of the Alexander Turnbull Library Research Endowment Fund. The audit was conducted in accordance with generally accepted auditing standards and practices comprising such auditing procedures considered necessary in terms of section 25, Public Finance Act 1977 and included: a review of accounting procedures and controls; examination and tests of accounting records and other supporting information. All the information and explanations have been obtained. In the opinion of the Audit Office, the attached financial statements fairly reflect, in accordance with applicable accounting principles, the financial position as at 31 March 1979 and the results of the financial operations for the year. W. R. Blaikie 28 September 1979 for Controller and Auditor-General