PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1931.

Appendix to the Journals of the House of Representatives, 1931 Session I-II, B-09a

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1931. NEW ZEALAND.

PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1931.

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 Eight Hon. the Minister of Finance. Sir,— The Audit Office, Wellington, 25th August, 1931. 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 31st March, 1931, and to advise you that it has been examined and found correct. I have, &c, G. F. C. Campbell, The Right Hon. the Minister of Finance, Wellington. Controller and Auditor-General.

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PUBLIC TRUST OFFICE. Balance-sheet as at 31st March, 1931. Liabilities. Assets. £ s. d. £ s. d. £ s. d £ s d Amounts held in Common Freehold and leasehold preFund for sundry estates mises and sites .. .. 455 738 ] g g and funds .. ..25,164,532 211 Furniture and plant, &o. .. .. 0 8 Amounts held for special Stationery and stores, &c. .. 6 364 14 4 investment on behalf of Business Extension Account .. 2 693 11 7 certain funds, but not yet Stocks, bonds, and debeninvested .. .. 71,050 11 7 tures— Amounts specially invested Government securities .. 2,238.541 13 7 on behalf of certain Rural Intermediate Credit estates and funds .. 11,252,851 11 8 Board debentures .. 72.050 0 0 — 36,488,434 6 2 Land Settlement Finance Sundry creditors, including Act debentures .. 38,500 0 0 . accounts passed for pay- Local bodies' debentures 7,852'111 9 7 ment but not yet paid .. 112,724 6 5 10,201 203 3 2 Overdraft at Bank of New Mortgages, &c. .. .. 13,979,927 11 10 Zealand .. .. .. 93,489 12 4 Less reserve .. .. 64,593 19 1 Reserve for land and in- jy gjg 333 jg „ come tax .. .. 484 18 0 Advances for protection of Reserve in respect of enemy- securities acquired or in property moneys .. 9,070 7 4 possession, &c .. .. 33 043 14 6 Special reserve for securities 33,043 14 6 Properties acquired .. 134,447 4;j General Legal Expenses Less reserve .. .. 16,081 14 7 Account .. .. 16,023 1 1 118,365 9 8 Investment Fluctuation Advances (on overdraft) to Account .. .. 100,452 18 0 estates and accounts 656,989 8 7 159,074 18 11 Less reserve .. .. 846 18 1 Assurance and Reserve , '. ggg 10 6 Fund .. .. .. 427,346 1 3 Interest and rent accrued, Profit and Loss Appropria- due, and overdue tion Account .. .. .. 762 15 10 Interest accrued up to 31st March, 1931, but not yet due, and interest overdue .. 484,899 1 0 Rent due or accrued .. 399 18 7 485,298 19 7 Sundry debtors .. .. .. 15,705 10 3 Cash in hand, on current account, and on deposit in New Zealand and in London .. .. .. 50,083 14 0 Investments of reserve for mortgages— Mortgages, &c. .. .. 34,382 11 9 Special investments held on behalf of certain estates and funds — Government securities .. 2,073,649 9 0 Rural Intermediate Credit Board debentures .. 29,000 0 0 Rural Advances bonds .. 2,011.857 15 0 Land Settlement Finance Act debentures .. 3,500 0 0 Local bodies'debentures 1,871,328 9 1 Private debentures and shares .. .. 29.359 19 5 Mortgages .. .. 5,184,457 1 2 Mortgage securities acquired .. .. 9,667 12 3 Advances for protection of securities.. .. 4 2 10 Loans .. .. 446 14 11 Savings-banks accounts 577 9 8 Overdue interest on special investments .. 39,002 18 4 11,252,851 11 8 £37,281,832 0 11 J. W. Macdonald, Public Trustee. F. Menneer, Chief Accountant. I hereby certify that the balance-sheet and accompanying accounts have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby. G. F. C. Campbell, Controller and Auditor-General.

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PUBLIC TRUST OFFlCE— continued. Profit and Loss Account for the Year ended 31st March, 1931. £ s. d. £ s. d. £ s. d. To Salaries .. .. .. .. 224,858 18 7 By Commission and other income .. -.314,227 5 9 Overtime .. .. .. .. 435 7 5 Service charges— Agents'commission .. 6,481 18 0 Services of High Commissioner 1,190 0 0 Services of General Post Office 858 1 0 8,529 19 0 Audit of books and accounts .. .. 700 0 0 Maintenance of premises and plant— Repairs, insurances, &c. .. .. 6,909 16 2 Rent .. .. .. .. 1,807 3 8 General charges— Advertising .. .. 4,782 15 2 Cleaning, lighting, heating, and power .. .. 5,963 0 9 Legal expenses .. .. 195 1 4 Rates .. .. .. 762 1 8 Miscellaneous payments .. 1,373 9 5 Postages and freight .. 4,950 19 3 Stamp duty on receipts and cheques .. .. 1,134 12 1 Telephone subscriptions .. 1,502 11 6 Printing, stationery, requisites .. .. 6,459 1 3 Travelling-expenses . . 3,494 12 0 Salaries and expenses of Farm Inspectors .. .. 4,200 1 2 Salaries of custodians and staff 7,181 16 8 42,000 2 3 I Compassionate allowances to dependants of deceased officers .. .. .. 200 0 0 Depreciation on office premises, furniture, plant, &c. .. .. .. .. 17,702 2 5 Contribution to subsidy to Public Service Superannuation Fund .. .. .. 6,917 1 5 Land-tax .. .. .. .. 2,580 3 2 Income-tax .. .. .. .. 61 0 3 Balance, being net profit for year, transferred to Appropriation Account .. .. .. 1, 525 11 5 £314,227 5 9 £314,227 5 9 J. W. Macdonald, Public Trustee. F. Menneer, Chief Accountant. Profit and Loss Appropriation Account for the Year ended 31st March, 1931. £ s. d. £ s. d. To Consolidated Fund — By Balance .. .. .. .. 5,498 7 7 One-half profits for year ended 31st March, Profit and Loss Account — 1930, paid in accordance with section 24(1) Balance transferred .. .. .. 1,525 11 5 of the Finance Act, 1929 .. .. 5,498 7 7 Profit on sale of investments .. ■ .. 717 0 0 Investment Fluctuation Account .. .. 1,479 15 7 Balance .. .. .. .. 762 15 10 £7,740 19 0 £7,740 19 0 £ s. d. By Balance .. .. .. .. 762 15 10 J. W. Macdonald, Public Trustee. F. Menneer, Chief Accountant.

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