PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1935.

Appendix to the Journals of the House of Representatives, 1935 Session I, B-09a

B. —9a,

1935. NEW ZEALAND.

PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1935.

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

The Controller AjiD Auditor-General to the Right Hon. the Minister of Finance. gir _ The Audit Office, Wellington, 22nd October, 1935. 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, 1935, 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 Minister of Finance, Wellington.

B.—9a,

PUBLIC TRUST OFFICE. Balance-sheet of the Public Trust Office as at 31st March, 1935. Liabilities. Assets £ s. d. £ s. d. £ g> Amounts held in Common Freehold and leasehold premises and sites .. 419,141 12 11 Fund for sundry estates Furniture and plant, &c. .. .. .. 40 437 10 5 and funds .. .. 24,979,343 16 1 Stationery and stores, &c. .. .. 4'799 0 5 Amounts held for special in- Stock, bonds, and debenvestment on behalf of tures (book value)— £ s. d. certain funds, but not yet Government securities .. 3,359,375 0 0 invested .. .. 292,390 16 0 Less reserve for preAmounts specially invested miums and discounts on behalf of certain estates on conversion or purand funds .. .. 11,394,462 7 10 chase .. .. 10 002 0 7 36,666,196 19 11 Sundry creditors, including 3 349 372 19 5 accounts passed for pay- , Rural Intermediate Credit ment, but not yet paid .. .. 138,051 10 8 Board debentures .. 60,050 0 0 Reserve in respect of ex- Fixed deposits, £400 ; less enemy-property moneys 18,729 2 7 discount on purchase, £3 397 0 0 Special reserve for securities 56,051 4 10 Local bodies' debentures, General Legal Expenses £7,517,494105. Bd. ; less Account .. .. 7,860 17 0 reserve for premiums Investment Fluctuation Ac- fi nd discounts on eoncount .. .. 81,428 19 6 version or purchase, —— 164,070 3 11 £168,514 7s. 2d. .. 7,348,980 3 6 Assurance and Reserve Fund .. .. 413,715 16 1 _ 10 753 B qo 211 Profit and Loss Appropriation Account .. 3,359 0 10 Mortgages, &c. (book value) 12,543,984 5 10 Less reserve .. .. 107,408 19 10 — 12,436,575 6 0 Advances for protection of securities acquired or in possession, &c. .. .. * 56,051 4 10 Properties acquired (book value) .. .. 198,181 4 10 Less reserve .. .. 15,854 611 182,326 17 11 Advances (on overdraft) to estates and accounts (book-value)- 568,602 11 7 Less reserve .. 2,846 18 1 565,755 13 6 Interest and rent accrued, " " due, and overdue— - Interest accrued up to 31st March, 1935, but not yet due, and interest overdue .. .. 743,406 4 0 Rent due or accrued .. 194 19 8 743,601 3 8 Less reserve .. 206,018 5 6 » 537,582 18 2 Sundry debtors ~ .. .. . . 109,395 9 5 Cash in hand on current account and on deposit in New Zealand and London •• .. 845,682 15 4 Investments of reserve for mortgages : Mortgages, &c. . . .. .. .. 34,382 11 9 Special investments (book value) held on behalf of certain estates and funds— £ s. d. Government securities .. 3,089,157 3 11 Rural Intermediate Credit Board debentures .. 29,000 0 0 Rural Advances bonds .. 2,182,982 15 0 Local bodies'debentures 1,202,789 3 5 Private debentures and shares .. .. 16,567 4 4 Realty .. .. 600 0 0 Fixed deposits .. 273 14 0 Mortgages .. .. 4,726,483 5 4 Mortgage securities acquired .. .. 28,390 17 7 Loans .. .. 5,611 14 11 Savings-banks accounts 722 8 10 Overdue interest 011 special investments .. .. 111,884 0 6 — 11,394,462 7 10 £37,385,393 11 5 £37,385,393 11 5 E. 0. Hales, 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.

2

B.— 9A.

PUBLIC TRUST OFFlCE—continued. Profit and Loss Account foe the Year ended 31st March, 1935. £ s. d. s - To Salaries .. .. . ■ •• •• 213,292 6 2 By Commission and other income .. . • 355,564 5 5 Overtime.. . . ■. • • • • 105 19 1 Service charges— £ s. d. Agents' commission .. 3,963 611 Services of High Commissioner 1,110 10 0 Services of General Post Office 869 17 0 5,943 13 11 Audit of books and accounts .. .. 850 0 0 Maintenance of premises and plant: Repairs, insurances, &c. .. .. .. 7,641 18 9 Rent 1,762 16 11 General charges— £ s. d. Advertising .. .. 3,201 4 5 Cleaning, lighting, heating, and power .. . • 5, 092 9 7 Legal expenses . . . ■ 210 0 0 Rates 817 13 2 Miscellaneous payments .. 363 14 0 Postages and freight .. 4,008 8 6 Stamp duty on receipts and cheques .. ■■ 1,212 10 4 Telephone subscriptions .. 1,579 6 3 Printing, stationery, and requisites .. 5, 262 1 10 Travelling-expenses .. 3,464 10 10 Salaries and expenses of Farm Inspectors .. . • 3,798 16 10 Salaries of custodians and staff 5,584 12 2 34,595 7 11 Compassionate allowances to dependants of deceased officers .. .. . • • • 1,102 10 0 Losses on realization of mortgages and of mortgage securities acquired and reserve for anticipated losses on mortgages and on advances (on overdraft) to estates and accounts .. .. 63,832 9 2 Depreciation on office premises, furniture, plant, &c •• 15,614 1 9 Contribution to subsidy to Public Service Superannuation Fund . • •• 3,659 18 8 Land-tax . • • • ■ • • • 445 1 4 Balance, being net profit for year, transferred to Appropriation Account .. .. •• 6,71819 £355,564 5 5 £355,564 5 5 E. 0. Hales, Public Trustee. F. Menneer, Chief Accountant. Profit and Loss Appropriation Account for the Year ended 31st March, 1935. £ s. d. £ s - d ; To Consolidated Fund: One-half profits for year By Balance .. .. . • • • • • 658 18 6 ended 31st March, 1934, payable in accordance Profit and Loss Account: Balance transierred. . o, /I» I J with section 24 (1) of the Finance Act, 1929 .. 658 18 6 Investment Fluctuation Account .. .. 3,359 011 Balance .. .. •• •• 3,359 010 £7,377 0 3 £7,377 0 3 £ s. d. By Balance .. .. .. • 3,359 010 E. 0. Hales, Public Trustee. F. Menneer, Chief Accountant.

Approximate Cost of Paper.—Preparation, not given ; printing (610 copies), £3 10s,

Authority: G. H. Loney, Government Printer, Wellington. —1935.

Price 3<Z.]

3