PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1929.

Appendix to the Journals of the House of Representatives, 1929 Session I, B-09a

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1929. NEW ZEALAND.

PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1929.

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 Right Hon. the Minister of Finance. Sir, — Audit Office, Wellington, 3rd October, 1929. 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, 1929, and to advise you that it has been examined and found to be correct. I have, &c., G. F. C. Campbell, Controller and Auditor-General. The Right Hon. the Minister of Finance, Wellington.

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PUBLIC TRUST OFFICE. Balance-sheet as at 31st March, 1929. Liabilities. Assets. £ s. d. £ s. d. £ s. d. Amounts held in Common Freehold and leasehold premises and sites, and Fund for sundry estates balance purchase-money of premises sold .. 460,135 6 9 and funds .. .. 21,943,047 13 10 Furniture and plant, &c. .. .. .. 38,631 18 4 Amount held for special Stationery and stores, &c. .. .. .. 6,194 9 0 investment on behalf of Stocks, bonds, and debencertain funds, but not tures— £ s. d. yet invested .. .. 67,521 19 6 Government securities .. 1,841,654 2 5 Amount specially invested Land Settlement Finance on behalf of certain Act debentures .. 38,500 0 0 estates and funds .. 9,032,602 1 1 Local bodies'debentures 6,782,042 18 11 31,043,171 14 5 8,662,197 1 4 Sundry creditors, including Mortgages, &c. .. .. 12,706,333 14 5 accounts passed for pay- Less reserve .. .. 62,502 11 6 ment, but not yet paid .. 155,198 13 9 12,643,831 2 11 Reserve for income-tax .. 194 0 11 Advances for protection of Reserve in respect of enemy- securities acquired or in property moneys .. 82,805 1 4 possession, &c. .. .. 18,047 4 0 Special reserve for securities 15,000 0 0 Properties acquired .. 158,392 3 6 General Legal Expenses Less reserve .. .. 34,040 2 6 Account .. .. 15,835 19 11 124,352 1 0 Investment Fluctuation Ac- Advances (on overdraft) to count .. .. 146,922 17 10 estates and accounts .. 371,031 1 5 260,758 0 0 Less reserve .. .. 893 11 6 Assurance and Reserve 370,137 911 Fund .. .. .. 427,346 1 3 Interest and rent accrued, due, and overdue — | Interest accrued up to 31st March, 1929, but not yet due, and interest overdue .. 356,684 15 8 Rent due or accrued .. 451 16 4 357,136 12 0 Sundry debtors, including transactions in process of adjustment between Head Office and London .. .. 57,141 14 1 Cash in hand, on current account, and on deposit in New Zealand and in London .. .. .. 116,067 9 0 Special investments held on behalf of certain estates and funds— Government securities .. 1,220,163 3 1 Rural Advances bonds .. 199,395 0 0 Land Settlement Finance Act debentures .. 4,500 0 0 Local bodies'debentures 2,137,140 19 1 Private debentures and shares .. .. 18,640 11 6 Mortgages .. .. 5,389,828 1 0 Mortgage securities acquired .. .. 47,921 10 5 Advances for protection of securities.. .. 51 12 11 Loans .... 946 14 11 Savings-bank accounts 319 5 5 Overdue interest on special investments .. 13,695 2 9 9,032,602 1 1 £31,886,474 9 5 £31,886,474 9 5 J. W. Macdonald, Public Trustee. W. Babr, Chief Accountant. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.— €(. F. C. Campbell, Controller and Auditor-General.

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PUBLIC TRUST OFFlCE—continued. Profit and Loss Account foe the Year ended 31st March, 1929. £ s. d. £ s. d. £ s. d. To Salaries .. .. .. .. 195,246 611 By Commission and other income .. .. 296,296 19 4 Overtime .. .. .. .. 576 7 3 Service charges— Agents' commission .. 8,842 9 5 Services of High Commissioner 1,150 0 0 (Services of General Post Office 811 2 0 — 10,803 11 5 Audit of books and accounts .. .. 700 0 0 Maintenance of premises and plant— Repairs, insurances, &c. .. .. 4,267 1 11 Rent .. .. .. .. 1,047 19 10 General charges— Advertising .. .. 4,451 0 1 Cleaning, lighting, heating, and power .. .. .. 4,349 19 11 Legal expenses .. .. 274 6 .6 Hates .. .. .. 644 1 0 Miscellaneous payments .. 829 9 9 Postages and freight .. 4,182 8 2 Stamp duty on receipts and cheques .. .. .. 960 8 6 Telephone subscriptions .. 1,023 9 6 Printing, stationery, and requisites .. .. .. 6,029 14 11 Travelling-expenses .. 4,124 4 4 Salaries and expenses of Farm Inspectors .. .. 3,825 17 1 Salaries of custodians a,nd staff 5,634 15 11 36,329 15 8 Depreciation on office premises, furniture, plant, &c. .. .. .. .. 14,795 2 3 Contributions to subsidy to Public Service Superannuation Fund .. .. .. 3,063 4 5 Balance, being net profit for year, transferred to Appropriation Account .. .. 29,467 9 8 £296,296 19 4 £296,296 19 4 J. W. Macdonald, Public Trustee. W. Barr, Chief Accountant. Profit and Loss Appropriation Account for the Year ended 31st March, 1929. £ s. d. £ s. d. To General Legal Expenses Account .. .. 3,000 0 0 By Profit and Loss Account— Balance transferred to Investment Fluctuation Balance transferred .. .. .. 29,467 9 8 Account .. .. .. .. 30,154 9 9 Profit on sale of freehold property .. .. 3,687 0 1 £33,154 9 9 £33,154 9 9 J. W. Macdonald, Public Trustee. W. Barr, Chief Accountant.

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