PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1932.

Appendix to the Journals of the House of Representatives, 1932 Session I-II, B-09a

B.—9a.

1932. NEW ZEALAND.

PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1932.

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

The Controller and Auditor-General to the Right Hon. the Acting Minister of Finance. Sir, The Audit Office, Wellington, 9th November, 1932. 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 balance-sheet of the Public Trust Office for the year ended on 31st March, 1932, and to advise you that it has been examined and found correct. I have, &c., G, F. C. Campbell, Controller and Auditor-General. The Right Hon. the Acting Minister of Finance, Wellington.

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PUBLIC TRUST OFFICE. Balance-sheet as at the 31st March, 1932. Liabilities. Assets. Amounts held in Common £ s. d. £ s. d. £ s. d. Fund for sundry estates Freehold and leasehold premises and sites .. 450,287 8 5 and funds .. .. 25,330,259 5 6 Furniture and plant, &c. .. .. .. 50,562 17 8 Amounts held for special Stationery and stores, &e. .. .. .. 6,091 19 7 investment on behalf of Business Extension Account .. .. 875 11 1 certain funds, but not yet Stocks, bonds, and debeninvested .. • • 37,950 9 7 tures £ s. d. Amounts specially invested Government securities .. 2,096,612 3 11 on behalf of certain Rural Intermediate Credit estates and funds ..11,491,309 3 4 Board debentures .. 94,850 0 0 36,859,518 18 5 Land Settlement Finance Sundry creditors, including Act debentures .. 38,500 0 0 accounts passed for pay- Local bodies'debentures 7,853,215 9 11 ment but not yet paid .. .. 137,095 16 8 10,083,177 13 10 Overdraft at Bank of New Mortgages, &c. .. .. 13,952,053 4 8 Zealand .. .. •• 16,017 5 9 Less reserve .. .. 59,408 19 10 Reserve in respect of ex- 13,892,644 4 10 enemy-property moneys 11,858 1 7 Advances for protection of Special reserve for securities 35,525 6 2 securities acquired or in General Legal Expenses Ac- possession, &c... .. .. 35,525 6 2 count.. .. ■ • 15,958 4 2 Properties acquired .. 174, 852 6 6 Investment Fluctuation Ac- Less reserve .. .. 16,032 9 0 count.. .. .. 98,836 11 4 158,819 17 6 162,178 3 3 Advances (on overdraft) to Assurance and Reserve Fund .. 427,346 1 3 estates and accounts .. 665,538 6 3 Less reserve .. .. 846 18 1 664,691 8 2 Interest and rent accrued, due, and overdue — Interest accrued up to 31st March, 1932, but not yet due, and interest overdue .. 661,628 13 7 Rent due or accrued .. 492 9 6 662,121 3 1 Less reserve .. .. 9,632 0 6 652,489 2 7 Sundry debtors .. .. .. .. 21,067 14 9 Cash in hand, on current account, and on deposit in New Zealand, Sydney, and London .. 41,616 16 1 Investments of reserve for mortgages —Mortgages, &c. .. .. .. .. 34,382 11 9 Special investments held on behalf of certain estates and funds— £ s. d. Government securities .. 2,452,004 19 11 Rural Intermediate Credit Board debentures .. 29,000 0 0 Rural Advances bonds .. 2,034,257 15 0 Land Settlement Finance Act debentures .. 2,000 0 0 Local bodies'debentures 1,715,029 9 1 Private debentures and shares .. .. 30,303 5 11 Realty .. .. 600 0 0 Mortgages .. .. 5,125,594 2 4 Mortgage securities acquired .. .. 13,202 14 8 Advances for protection of securities .. .. 30 9 5 Loans .. .. 446 14 11 Deposits with companies 122 11 3 Savings-banks accounts 355 11 1 Overdue interest on special investments.. .. 88,361 9 9 11,491,309 3 4 Profit and Loss Appropriation Account .. 18,614 9 7 £37,602,156 5 4 £37,602,156 5 4 J. W. Macdonald, Public Trustee. 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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B.—9A.

PUBLIC TRUST OFFICE —continued. Profit and Loss Account fob the Year ended 31st March, 1932. £ s. d. £ s. d. To Salaries .. .. .. .. 206,141 19 0 By Commission and other income .. .. 282,204 15 4 Consolidated Fund : Payment in terms of sec- Balance, being net loss for year, transferred to tion sof Finance Act, 1931 (No. 2), in respect Appropriation Account .. .. .. 18,614 9 7 of reduction in salaries effected by Fiuance Act, 1931 (No. 1) .. .. 23,120 16 0 Overtime .. .. .. • • 56 4 0 Service charges— £ s. d. Agents'commission .. .. 3,868 4 10 Services of High Commissioner 1,100 0 0 Services of General Post Office 760 8 6 5,728 13 4 Audit of books and accounts .. .. 700 0 0 Maintenance of premises and plant: repairs, insurances, &c. .. 7.917 10 8 Rent 2,080 11 2 General charges— Advertising .. .. 1,850 9 3 Cleaning, lighting, heating, and power .. .. .. 5,800 14 2 Legal expenses .. .. 184 15 3 Rates . . . . • ■ 753 17 0 Miscellaneous payments .. 725 3 5 Postages and freight.. .. 6,206 1 1 Stamp duty on receipts and cheques .. .. .. 1,101 15 11 Telephone subscriptions .. 1,541 7 10 Printing, stationery, and requisites .. .. .. 4,766 15 0 Travelling-expenses .. .. 3,565 15 9 Salaries and expenses of Farm Inspectors .. .. 3,724 16 2 * Extension of business .. 1,983 3 4 Salaries of custodians and staff 5,637 210 37,841 17 0 Compassionate allowances to dependants of deceased officers .. . • .. 743 0 0 Depreciation on office premises, furniture, plant, &c. .. •• •• •• 11,415 4 9 Contribution to subsidy to Public Service Superannuation Fund .. .. .. 3,454 18 5 Land-tax .. .. • • • • 721 22 Income-tax .. .. .. • • 897 8 5 £300,819 4 11 £300,819 4 11 J. W. Macdonald, Public Trustee. Profit and Loss Appropriation Account for the Year ended 31st March, 1932. £ s. d. £ s. d. To Consolidated Fund —One-half profits for year By Balance .. .. .. .. .. 762 15 10 ended 31st March, 1931, paid in accordance Profit on sale of investments .. .. 865 5 0 with section 24 (1) of the Finance Act, 1929.. 762 15 10 Balance .. .. .. .. .. 18,614 9 7 Investment Fluctuation Account .. .. 865 5 0 Profit and Loss Account: Balance transferred.. 18,614 9 7 £20,242 10 5 £20,242 10 5 £ s. d. To Balance .. .. .. •• 18,614 9 7 J. W. Macdonald, Public Trustee.

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