PUBLIC ACCOUNTS

Ashburton Guardian, Volume 56, Issue 99, 7 February 1936, Page 8

PUBLIC ACCOUNTS

“TAG” ATTACH EO TO ABSTRACT. COMMENT BY UTDJTOH-GENERAL. (Per Press Association.) WELLINGTON, February 6. A “tag” attached to the abstract of revenue and expenditure by the Controller and Auditor-General, who makes the following comment: The foregoing accounts have been examined and are certified with the following exceptions: (1) The total of balances as shown in the individual sub-accounts which constitute the public account amounting to £13,516,284 18s Id, is overstated owing to transfers made between the sub-accounts being shown so as to increase the total balance of the borrowing sub-account without decreasing the total balance of the lending subaceount. The amount of £125,000 was paid during the year from the Public Works Fund General Purposes Account in respect of the purchase of 500,009 £1 shares of the Mortgage Corporation of New Zealand. Such payment is not shown as expenditure in the account, the amount being shown as the balance of the account at the end of six months. Note.—This certificate is given subject to a final audit of certain vouchers which, owing to the post-audit system provided for by the Public Revenues Act, 1926, cannot be completely audited before the date at which the abstract is required by the Act to be certified. The Secretary to the Treasury supplies the following Treasury notes: As shown in the summaries, the balances of accounts, amounting in the aggregate to £13,516,284 18s Id, are made up as follows: Cash, £976,985 11s 4d; imprests, £2,518,782 7s 3d; investments, £10,020,516 19s 6d. (2) The £120,000 for the purchase of shares in the Mortgage Corporation is hot expenditure but investment, and lias been treated in the accounts as such.