PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1926.

Appendix to the Journals of the House of Representatives, 1926 Session I, B-09a

B. —9 a,

1926. NEW ZEALAND.

PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1926.

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., sth August, 1926. 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, 1926. I have, &c., G. P. C. Campbell, The Hon. the Minister of Finance, Wellington. Controller and Auditor-General.

Balance-sheet of the Public Trust Office as at 31st March, 1926. Liabilities. Assets. £ s. d. £ s. d. £ s. d. Amounts held in Common Freehold and leasehold premises and sites .. 438,377 13 7 Fund for sundry estates Furniture and plant, &c. .. .. .. 38,462 1 9 and funds .. .. 17,682,607 15 9 Stationery and stores, &c. .. .. .. 5,859 3 11 Amounts held for special Stocks, bonds, and debeninvestment on behalf of tures— £ s. d. certain funds, but not Government securities .. 1,105,419 010 yet invested .. .. 83,481 1 10 Land Settlement Finance Amount specially invested Act debentures .. 40,100 0 0 on behalf of certain Local bodies' debentures 5,824,922 13 3 estates and funds .. 6,659,920 12 2 6,970,441 14 1 —— 24,426,009 9 9 Mortgages, &c. .. .. 10,370,796 0 3 Sundry creditors, including Less reserve .. .. 37,309 10 7 accounts passed for pay- 10,333,486 9 8 ment but not yet paid .. .. 152,956 6 8 Advances for protection of Reserve for income-tax .. 4,370 3 11 securities acquired or in Reserve in respect of enemy- I possession .. .. .. 6,658 5 1 property moneys .. 75,951 8 8 Properties acquired .. 39,936 16 1 Special reserve for securities 15,000 0 0 Less reserve .. .. 11,350 0 0 General Legal Expenses 28,586 16 J. Account .. .. 10,663 14 6 Advances (on overdraft) to Investment Fluctuation Ac- estates and accounts .. .. 332,694 15 10 count .. •• 120,278 0 2 Interest and rent accrued, 226,263 7 3 due and overdue— Assurance and Reserve Interest accrued up to Fund .. •• ■■ 427,346 1 3 31st March, 1926, but not yet due, and interest overdue .. 299,951 10 2 Rent due or accrued .. 597 19 5 300,549 9 7 Sundry debtors, including transactions in process of adjustment between Head Office and District Offices and Head Office and London .. .. .. 6,189 18 S Cash in hand, on current account, and on deposit in New Zealand and in London .. .. .. 111,348 4 8 Special investments held on behalf of certain estates and funds— Government securities .. 549,173 4 10 Local bodies'debentures 1,589,143 4 4 Land Settlement Finance,- , t .... Act debentures .? "o,r>o<i 0 0 Private shares and debentures .. .. 10,789 1 6 Mortgages .. .. 4,489,783 17 2 Loan .. .. 100 0 0 Savings-bank accounts .. 374 7 0 Overdue interest on special investments .. 15,050 17 4 6,659,920 12 2 £25,232,575 4 11 £25,232,575 4 11 J. W. Macdonald, Public Trustee. W. Bare, Chief Accountant.

B— 9a

2

Profit and Loss Account for. the Year ended 31st March, 1926. £ s. d. £ sf. <1, £ s. d. To Salaries .. .. .. .. 165,603 2 0 By Commission and other income .. .. 282,386 410 Overtime .. .. .. .. 306 X 4 Service charges — Agents' commission .. 7,908 11 1 Services of High Commissioner 1,150 0 0 Services of General Post Office 608 13 6 9,667 4 7 Audit of books and accounts ~ .. 700 0 0. Maintenance of premises and plant— Repairs, insurances, (fee. .. .. 4,445 8 6 Rent .. .. .. .. 1,905 0 2 General charges— Advertising .. .. 4,396 12 11 JDunedin Exhibition display .. 897 18 8 Cleaning, lighting, heating, and power .. .. .. 3,893 14 1 Legal expenses .. .. 195 1 11 Rates .. .. . . 815 15 2 Miscellaneous payments . . 668 4 7 Postages and freight .. 3,404 6 6 Stamp duty on receipts arid cheques .. .. .. 682 11 7 Telephone subscriptions .. 1,333 8 9 Printing, stationery, and requisites .. .. .. 6,379 4 3 Travelling-expenses .. 5,463 5 2 Salaries and expenses of Farm Inspectors .. .. 3,446 0 11 Salaries of custodians and staff 5,789 16 9 37,366 1 3 Depreciation on office premises, furniture, plant, &c. .. .. 14,194 8 4 Retiring-allowances— Mr. C. Zachariah .. .. 382 10 0 Mr. T. D. Kendall .. .. 332 10 0 715 0 0 Balance, being net profit for year, transferred to Appropriation Account .. .. 47,483 17 11 £282,386 4 10 £282,386 4 10 J. W. Macdonald, Public Trustee. W. Barr, Chief Accountant. Profit and Loss Appropriation Account for the Year ended 31st March, 1926. £ s. d. £ s. <1. To Public Service Superannuation Fund— By Profit and Loss Account — Proportion of subsidy for year 1925-26 .. 4,367 18 3 Balance transferred .. .. .. 47,483 17 11 Reserve for Income-tax, 1926-27 .. . . 500 0 0 Profit on sale of office premises .. .. 44 13 3 General Legal Expenses Account .. .. 1,000 0 0 Balance transferred'to Investment Fluctuation Account .. .. .. .. 41,660 12 11 £47,528 11 2 £47,528 11 2 1 J. W. Macdonald, Public Trustee. W. Barr, Chief Accountant. I hereby certify that the Balance-sheet and accompanying accounts have been duly examined and compared with the books and documents submitted for audit, and correctly state the position as disclosed thereby. In the case of one mortgage a sum of £27 has been advanced in excess of the statutory limit. —G. F. C. Campbell, Controller and Auditor-General.

Approximate Cost of Paper.—Preparation, not given; printing (500 copies), £6.

By Authority: W. A. G. Skinner, Government Printer, Wellington.—l 926.

Price 3d.]