PATRIOTIC FUNDS".
: WAIRARAPA SOaETX '.- ■>'■■ -i i (By ,Tel«flr»ph.) ,-.-• (Special lo the "Evening Post") MASTERTON, This Day.. The total receipts in the fund administered by the Wairarapa Patriotic Association since its inceptionin 1915' are £226,23-1 16s S'd, arid' the tbtal; payments .in the same period £192,359 lls 4d, leaving a net balance in. hand of £ 33,875 5s Id. ■ After■;'■■ ; meeting the, charge for overdraft, £6828.93 6d, th(? interest < account shows a profit over the eighteen years of £29,512 3s sd, an average annual accretion of £1639 11s 3d. The total cost of collection and administration of the fund over eight-, een years has been met from interest earnings;-the interest account still showing a surplus of £21,730 3s 7d. The ratio of expenses, to'the total receipts and contributions over,eighteen years is 3.44 per cent. only. The total administrative costs and charges have absorbed 21.4' per' cent; ; only of the, interest earned on investments for the same period; The balance of funds in hand is .£31,725 18s 7d net, a decrease of £1122 14s 9don the balance brought forward at the beginning of the year. Assuming the annual charge to be £2000, and after allowing for probable loss of 50 per cent., of soldiers', loans outstanding, the fund should ; not be depleted inside; twelve years. The- total amount advanced by the board by loans to soldiers is • £97,696 0s 2d, and the repayments of advances has reached the satisfactory- total of £58,857 5s Bd. Conversions to, grants and writings off as irrecoverable through economic conditions and as bad'debts/ account for £19,486 14s 9d, or 19.95 per cent, of the total loans advanced, and £19,351 19s 9d, or 19.8 per cent,, is now outstanding. The total sum paid in grants to soldiers or the dependants of soldiers over the past eighteen' years by way of temporary relief is .£.48,107 15s 7d. Approximately 3700 individual returned soldiers^ or dependants of returned soldiers have received assistance from the association cither by way" of loans or grants. ' " ■, '*'. ■■:'■'•■.•
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https://paperspast.natlib.govt.nz/newspapers/EP19330523.2.92
Bibliographic details
Evening Post, Volume CXV, Issue 119, 23 May 1933, Page 9
Word Count
330PATRIOTIC FUNDS". Evening Post, Volume CXV, Issue 119, 23 May 1933, Page 9
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