PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1944

Appendix to the Journals of the House of Representatives, 1944 Session I, B-09a

B.—9a

1944 NEW ZEALAND

PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1944

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

The Honourable the Minister of Finance, Wellington. Sir, — The Audit Office, 27th July, 1944. 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 as at 31st March, 1944, and to advise you that it has been examined and found correct. I have the honour to be, Sir, Your obedient servant, Cyril G. Collins, Controller and Auditor-General.

PUBLIC TRUST OFFICE Balance-sheet of the Public Trust Office as at 31st March, 1944 Liabilities Assets £ £ £ Amounts held in Common Fund for Premises, furniture, plaht, stationery, &c. .. .. 385,237 sundry estates and funds .. .. 24,157,287 Government securities .. .. .. .. 6,435,523 Amounts held for special investment on Local bodies'debentures .. .. .. 6,057,649 behalf of certain funds, but not yet Mortgages (including investments of reserve for invested .. .. .. 61,867 mortgages) .. .. .. .. .. 10,714,979 Amounts specially invested on behalf Properties acquired and advances for protection of of certain estates and funds .. 16,399,887 securities (book value) .. .. .. 299,925 40,619,041 Advances (on overdraft) to estates and accounts Sundry creditors, writings off, &c. .. .. 274,131 (book value) .. .. .. .. 577,441 Reserve in respect of enemy property Interest and rent accrued, due, and overdue .. 322,290 moneys .. .. .. 32,198 Sundry debtors, assets in suspense, &c. .. .. 50,243 Reserve for taxation .. .. 6,325 Cash in hand, on current account, and on deposit in Reserves for losses on mortgages, &c., New Zealand and London .. .. .. 452,592 and in respect of advances for pro- Special investments, and overdue interest thereon, tection of securities .. .. 190,322 held on behalf of estates and funds .. .. 16,399,887 • 228,845 General Legal Expenses Account .. .. 7,716 Investment Fluctuation Account .. .. 146,013 Assurance and Reserve Fund .. .. 413,716 Profit and Loss Appropriation Account .. 6,304 £41,695,766 £41,695,766 Profit and Loss Account for the Year ended 31st March, 1944 Dr. £ Cr. £ Salaries and general working-expenses .. .. 357,740 Commission, and other income (net) .. .. 406,657 Losses on realization of mortgages, and reserve for anticipated losses .. .. .. 7,665 Depreciation on office premises, furniture, &c. .. 15,973 Taxes and reserve therefor .. .. .. .. 12,671 Balance, being net profit for year, transferred to Appropriation Account .. .. .. 12,608 £406,657 £406,657 Profit and Loss Appropriation Account for the Year ended 31st March, 1944 Dr. £ Cr. £ Consolidated Fund: One-half profits for year ended Balance .. .. .. .. .. .. 6,383 31st March, 1943, payable in accordance with section Profit and Loss Account: Balance transferred .. 12,608 24 (1), Finance Act, 1929 .. .. .. .. 6,383 Investment Fluctuation Account .. .. .. 6,304 Balance .. .. . ■ •. • • .. 6,304 £18,991 £18,991 ■ £ Balance .. .. .. .. .. .. 6,304 W. G. Baird, Public Trustee. A. J. Anderson, F.R.A.N.Z., 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.-— Cyril G. Collins, Controller and Auditor-General.

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