PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1925.

Appendix to the Journals of the House of Representatives, 1925 Session I, B-09a

B.—9A,

1925. NEW ZEALAND.

PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1925.

Laid before the General Assembly in pursuance of Section 27 of the Public Trust Office Amendment Act, 1921-22.

The Controller and Auditor-General to the Hon. the Minister of Finance. Sir, — The Audit Office, Wellington, N.Z., 27th July, 1925. I have the honour, in accordance with the provisions of section 27 of the Public Trust Office Amendment Act, 1921-22, to transmit to you the attached balance-sheet of the Public Trust Office for the year which ended on the 31st March, 1925, and to report that I have examined the balance-sheet and found it correct. I have, &c., G. F. C. Campbell, The Hon. the Minister of Finance, Wellington. Controller and Auditor-General.

Balance-sheet of the Public Trust Office as at 31st March, 1925. Liabilities. Asset'. £ s. d. £ s. d. £ s. d. £ s. d. Amounts held in Common Freehold and leasehold pre - Fund for sundry estates mises, sites, and balance and funds .. .. 16,573,026 19 3 purchase-money of preAmounts held for special mises sold .. .. .. 393,058 6 1 investment on behalf of Furniture and plant, &c. .. .. 34,287 15 2 certain funds, but not Stationery and stores, &c. .. 5,628 9 3 yet invested .. .. 74,339 15 0 Stocks, bonds, debentures — Amount specially invested Government securities .. 955,415 8 10 on behalf of certain Land Settlement Finance estates and funds .. 3,462,455 6 5 Act debentures .. 43,200 0 0 20,109,822 0 8 Local bodies'debentures 4,827,646 13 3 Sundry creditors, including 5,826,262 2 1 accounts passed for pay- Mortgages .. .. 10,158,320 19 11 ment but not yet paid .. .. 125,621 8 11 Less reserve .. .. 54,917 0 0 Reserve for income-tax .. 19,659 15 10 10,103,403 19 11 Reserve in respect of enemy- Advances for protection of property moneys .. 68,253 11 4 of securities acquired or Special reserve for securities 15,000 0 0 in possession .. .. .. 6,828 18 0 General Legal Expenses Properties acquired .. 45,598 17 2 Account .. .. 9,889 11 6 Less reserve .. .. 9,358 0 0 Investment Fluctuation Ac- 36,240 17 2 count .. .. 88,763 19 2 Advances (on overdraft) to 201,566 17 10 estates and accounts .. .. 318,426 2 5 Assurance and Reserve Interest and rent accrued, Fund .. .. .. 427,346 1 3 due and overdue— Interest accrued up to 31st March, 1925, but not yet due, and interest overdue .. 282,467 9 0 Rent due or accrued .. 592 8 4 283,059 17 4 Sundry debtors, including transactions in process of adjustment between Head Office and District Offices and Head Office and London .. .. .. 109,894 12 0 Cash in hand, on current account, and on deposit in Sew Zealand and in London .. .. .. 284,810 2 10 Special investments held on behalf of certain estates and funds— Government securities .. 188,509 18 0 Local bodies'debentures 919,379 10 0 Private shares and debentures .. .. 10,877 1 6 Mortgages .. .. 2,334,991 1 9 Savings-bank accounts .. 174 7 0 Overdue interest on investments .. .. 8,523 8 2 3,462,455 6 5 £20,864,356 8 8 £20,864,356 8 8 J. W. Macdonald, Public Trustee. W. Barr, Chief Accountant. The Audit Office having examined the balance-sheet and accompanying accounts, and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith. G. F. C. Campbell, Controller and Auditor-General.

B.—9a

Profit and Loss Account foe the Year ended 31st March, 1925. £ s. d. £ s. d. £ s. d. To Salaries .. .. .. .. 149,981 13 3 By Commission and other income .. .. 299,438 14 10 Overtime .. .. .. 280 15 7 Service charges— Agents' commission.. .. 5,856 14 0 Services of High Commissioner 1,150 0 0 Services of General Post Office 528 0 0 7,534 14 0 Audit of books and accounts .. .. 700 0 0 Maintenance of premises and plant— Repairs, insurances, &c... .. .. 4,629 3 7 Rent .. .. .. . . .. 2,362 15 6 General charges— £ s. d. Advertising .. .. 4,314 7 6 Cleaning, lighting, heating, and power .. .. .. 3,152 9 1 Legal expenses .. .. lOt 14 9 Rates .. .. .. 865 9 4 Miscellaneous payments .. 525 17 5 Postages and freight .. 2,942 4 0 Stamp duty on receipts and cheques .. .. .. 601 14 4 Telephone subscriptions .. 1,288 12 8 Printing, stationery, and requisites .. .. .. 5,974 3 10 Travelling-expenses.. .. 4,266 16 5 Rangers' expenses in excess of fees charged .. .. 2,376 14 5 Extension of business .. 958 5 11 Salaries of custodians and staff 4,830 17 2 32,198 6 10 Depreciation on office premises, furniture, plant, &c. .. .. .. ..11,229 0 0 Balance, being net profit for year, transferred to Appropriation Account .. .. 90,522 6 1 £299,438 14 10 £299,438 14 10 J. W. Macdonald, Public Trustee. W. Barb, Chief Accountant. Profit and Loss Appropriation Account for the Year ended 31st March, 1925. To Expenditure relative to years prior to Ist April, £ s. d. I By Profit and Loss Account— £ s. d. 1924— | Balance transferred .. .. .. 90,522 6 1 Interest payable to Native Trustee in Profit on sale of office premises .. .. 4,286 1 2 respect of sundry Native accounts .. 2,937 6 5 Public Service Superannuation Fund — Proportion subsidy for year 1924—25 .. 4,408 14 0 Reserve for income-tax, 1925-26 .. .. 15,500 0 0 General Legal Expenses Account .. .. 3,000 0 0 Assurance and Reserve Fund .. .. 23,708 13 5 Balance transferred to Investment Fluctuation Account .. .. .. .. 45,253 13 5 £94,808 7 3 £94,808 7 3 J. W. Macdonald, Public Trustee. W. Barr, Chief Accountant.

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