PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1946

Appendix to the Journals of the House of Representatives, 1946 Session I, B-09a

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1946 NEW ZEALAND

PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1946

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

The Audit Office, Wellington C. 1, 2nd August, 1946. The Eight Honourable the Minister of Finance, Wellington. Sir, — 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, 1946, and to advise you that it has been examined and found correct. I have the honour to be, Sir, Your obedient servant, J. P. Rutherford, Gontroller and Auditor-General.

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PUBLIC TRUST OFFICE Balance-sheet of the Public Trust Office as at 31st March, 1946 Liabilities £ £ Assets £ Amounts held in Common Fund for sundry Premises, furniture, plant, stationery, &c. .. .. .. 365,570 estates and funds. .. .. .. 24,257,525 Government securities .. .. .. .. .. 7,836,358 Amounts held for special investment on behalf Local bodies' debentures . . .. .. . . 5,778,491 of certain funds,- but not yet invested .. 63,042 Mortgages (including investments of reserve for mortgages) .. 9,756,364 Amounts specially invested on behalf of certain Properties acquired and advances for protection of securities. estates and funds . . .. .. 17,664,997 (book value) .. .. .. .. .. 259,741 , : 41,985,564 Advances (on overdraft) to estates and accounts (book value) 613,430 Sundry creditors .. .. .. 394,444 Interest and rent accrued, due, and overdue .. .. 294,724 Writings off Suspense Account .. .. .. 18,224 Sundry debtors .. .. .. .. .. 44,570 Reserve in respect of enemy property moneys .. 35,670 Assets in suspense (pending final writing off) .. .. 18,224 Reserves for losses on mortgages, &c., and in Cash in hand, on current account, and on deposit in New' respect of advances for protection of securities 168,467 Zealand and London .. .. .. .. 567,909 Reserve for taxation .. .. .. 12,835 Special investments, and overdue interest thereon, held on Reserve for deferred maintenance .. .. 7,000 behalf of certain estates and funds .. .. .. 17,664,997 223,972 General Legal Expenses Account ...... 7,716 Investment Fluctuation Account .. .. .. 156,204 Assurance and Reserve Fund .. .. .. 410, 127 Profit and Loss Appropriation Account .. .. 4,127 i £43,200,378 £43,200,378

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Profit and Loss Account for the Year ended 31st March, 1946 Dr. £ Cr. £ Salaries and general working expenses .. .. .. 434,439 Commission and other income (net) .. .. .. 486,781 Losses on realization of mortgages and reserve for anticipated losses .. .. .. .. . . .. 15,233 Depreciation on office premises, furniture, &c. .. .. 16,020 Taxes and reserve therefor .. .. .. 12,835 Balance, being net profit fat year, transferred to Appropriation Account .. .. .. .. .. .. 8,254 £486,781 £486,781 I Profit and Loss Appropriation Account for the Year ended 31st March, 1946 Dr. £ Cr. £ Investment Fluctuation Account .. .. .. .. 4,300 Profit and Loss Account: Balance transferred .. .. 8,254 Balance .. .. .. .. .. .. 4,127 Profit on sale of investments .. .. .. .. 173 £8,427 £8,427 Balance .. .. .. .. .. .. £4,127 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.— J. P. Rutherford, Controller and Auditor-General. Approximate Cost of Paper.—Preparation, not given ; printing (533 copies, £5-10-0)

By Authority: E. V. Paul, Government Printer, Wellington.— 1946. Price 3d.]

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