PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1947

Appendix to the Journals of the House of Representatives, 1947 Session I, B-09a

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1947 NEW ZEALAND

PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1947

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

. -The Audit Office, Wellington, 27th*August, 1947. The Eight Honourable the Minister oe. Finance, Wellington. Sir, — PUBLIC TRUST OFFICE Balance-sheet as at 31st March, 1947 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, 1947, 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, Controller and Auditor-General.

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PUBLIC TRUST OFFICE Balance-sheet of the Public Trust Office as at 31st March, 1947 Liabilities £ ' £ Assets £ Amounts held in Common Fund for sundry Premises, furniture, plant, stationery, &c. .. .. 362, 406 estates and funds .. .. .. 23,337,397 Government securities .. .. .. .. .. 7,673,360 Amounts held for special investment on behalf Local bodies' debentures .. .. .. .. 5,592,654 of certain funds, but not yet invested .. 35,133 Mortgages (including investments of reserve for mortgages) 9,237,539 Amounts specially invested on behalf of certain Properties acquired and advances for protection of securities estates and funds .. .. .. 18,514,618 (book value) .. .. .. .. .. 253,088 41,887,148 Advances (on overdraft) to estates and accounts (book value) 490,212 Sundry creditors .. .. .. .. .. 250,993 Interest and rent accrued, due, and overdue .. .. 257,579 Writings-off Suspense Account .. .. 14,031 Sundry debtors .. .. .. .. .. 106,237 Reserve in respect of enemy property moneys 37,427 Assets in suspense (pending final writing off) .. .. i 4,031 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 Zealand and London .. .. .. ... 408, 495 securities .. .. .. .. 143,877 Special investments, and overdue interest thereon, held on Reserve for deferred maintenance .. .. 4,270 behalf of certain estates and funds .. .. .. 18,514,618 185,574 General Legal Expenses Account .. .. .. 7,646 Investment Fluctuation Account ...... 161,136 Assurance and Reserve Fund .. .. .. 399,564 Profit and Loss Appropriation Account (being one-half profits for year ended 31st March, 1946, payable to Consolidated Fund in accordance with section 24 (1), Finance Act, 1929) 4,127 £42,910,219 £42,910,219

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Profit and Loss Account for the Year ended 31st March, 1947 Dr. £ Cr. £ Salaries and general working expenses .. .. .. 489,366 Commission and other income (net).. .. .. .. 485,169 Losses on realization of mortgages .. .. .. .. 24 Over-provision for taxation on income for year ended 31st March, Depreciation on office premises, furniture, &c. .. .. 16,608 1946 .. .. .. .. .. .. • • 10,266 Balance, being net loss for year, transferred to Appropriation Account .. .. .. .. .. .. 10,563 £505,998 £505,998 Profit and Loss Appropriation Account for the Year ended 31st March, 1947 Dr. £ Cr. £ Profit and Loss Account: Balance transferred .. .. 10,563 Balance .. .. .. .. .. .. .. 4,127 Balance .. .. .. .. .. .. .. 4,127 Transfer from Assurance and Reserve Fund .. .. .. 10,563 £14,690 £14,690 Balance \(being one-half profits for year ended 31st March, 1946, payable to Consolidated Fund in accordance with section 24 (1), Finance Act, 1929) .. .. .. .. .. £4,127 W. Gr. 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.

By Authority: E. Y. Paul, Government Printer, Wellington. —1947.

Price 3d.]

Approximate Cost of Paper.—Preparation, not given ; printing (588 copies), £6.

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