BALANCE-SHEETS AND STATEMENTS OF ACCOUNTS OF VARIOUS GOVERNMENT DEPARTMENTS FOR THE YEAR 1947-48 AUDITED ACCOUNTS

Appendix to the Journals of the House of Representatives, 1949 Session I, B-01-part03

B—l [PT. IV]

. 1949 NEW ZEALAND

BALANCE-SHEETS AND STATEMENTS OF ACCOUNTS OF VARIOUS GOVERNMENT DEPARTMENTS FOR THE YEAR 1947-48 AUDITED ACCOUNTS

(Presented to Parliament in Terms of Section 57 of the Finance Act, 1932)

v This publication is one of a series of three statements dealing with the Public Accounts, as under : B-l [Pt. I]. —The Public Accounts with Supplementary Statements, including Statement of the Public Debt and Transactions in connection therewith previously incorporated in B-l [Pt. lII]. B-l [Pt. ll]. —Report of Controller and Auditor-General. B-l [Pt. IV]. —Balance-sheets and Statements of Account, of various Government Departments.

B—l [PT. IV]

CONTENTS PAGE Arawa District Trust Board .. .. . . .. .. .. ..4 Electric Supply Account (1949) .. .. .. .. .. .. ..9 Government Life Insurance Department (see Parliamentary Paper H-8). Hauraki Plains Settlement .. .. .. .. .. .. .. 14 Housing Account (see Parliamentary Paper B-13). Island Territories: " Maui Pomare" .. .. .. .. .. 17 Land for Settlements Account .. .. .. .. .. .. .. 19 Main Highways Account (see Parliamentary Paper D-l). Maori Affairs Department— Building Construction Fund .. .. .. .. .. .. .. 24 District Maori Land Boards .. .. .. .. .. .. 26 Maori Housing Act, 1935 .. .. .. .. .. .. .. 32 Maori Land Development Schemes .. .. .. .. .. .. .. 34 Maori Purposes Fund Board .. .. .. .. .. .. .. 36 Maori Rehabilitation .. .. .. .. .. .. .. 38 Special Maori Housing Fund .. .. .. .. .. ... 40 Maori Trustee .. .. .. .. .. .. .. .. .. 42 Marketing Department— Export Division (see Parliamentary Paper H-30). Internal Marketing Division (see Parliamentary Paper H—3oa). - National Broadcasting Service .. .. .. .. .. .. .. 44 National Broadcasting Service : Commercial Division .. .. .. .. 46 Post and Telegraph Department .. .. .. .. .. .. .. 48 Printing and Stationery Department .. .. .. .. .. .. 53 Public Service Superannuation Board (see Parliamentary Paper H-26). Public Trust Office (see Parliamentary Paper B-9a). Railway Department (see Parliamentary Paper D-2). Railway Superannuation Fund (see Parliamentary Paper D-5). Rangitaiki Land Drainage Scheme .. .. .. .. .. .. 58 Reparation Estates .. .. .. .. .. .. .. .. 68 Small Farms Scheme .. .. .. .. .. .. .. .. .. 64 State Coal-mines Account (see Parliamentary Paper C-2a). State Fire Insurance Office— Fire Branch (see Parliamentary Paper H—6). Accident Branch (see Parliamentary Paper H-6a). State forest Service .. .. .. .. .. .. .. .. - .. 72 Swamp Land Drainage Scheme ~ .. .. .. .. .. 75 Taranaki Maori Trust Board .. .. .. .. .. .. .. .. 80 Teachers' Superannuation Fund .. .. .. .. .. .. 82 Tourist and Health Resorts .. .. .. .. .. .. .. .. 86 Tuwharetoa Trust Board .. .. .. .. .. .. .. .. 90 War Damage Fund (see Parliamentary Paper B-ll). Westport Harbour Account .. .. .. .. .. .. .. .. 92

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B—l [Pt. IV]

EXPLANATORY MEMORANDUM The following notes are explanatory of the more important matters relating to the preparation of the balance-sheets and revenue accounts included in B-l [Pt. IV], 1949, which are prepared on an income and expenditure basis and present a more comprehensive statement of the financial operations of Departments and services than is possible in the cash statements included in paper B-l [Pt. I]. (i) Authority.—Section 57 of the Finance Act, 1932, requires the preparation of these accounts and their presentation to Parliament. (ii) Capital—(a) General: The amounts under this heading in the accounts usually represents the value of fixed assets at the conclusion of the financial year, and the amounts are divided to show loan capital separate from that provided from revenue or other source. (b) Public Works Loans : Loajis for the Public Works Account are shown as Public Works Fund Capital in the appropriate accounts recording the expenditure. Redemptions of those loans are allocated by the Treasury to the accounts whose expenditure is represented by the least productive assets. (iii) Depreciation.—Treasury Instruction No. 79 specifies various rates of depreciation based on an estimated average life for different classes of assets. The rates are computed usually on the original capital cost. If the nature of a Department's depreciating assets calls for special rates, these are approved as required. (iv) Exchange.—As from Ist April, 1943, exchange has been charged to the various votes, &c., on all payments made overseas. Prior to this date exchange was charged to the Consolidated Fund, but was recouped in the case of payment made for the following purposes : for Telegraph Extension in the case of purchases made for the Post Office, and for Railways Improvement and Additions to Open Lines in the case of purchases made for the Railways. Exchange was also recovered from all separate accounts, both within and outside the Public Account, in respect of remittances for the purchase of materials and miscellaneous services. (v) Charges not Subject to Specific Appropriation. —In pursuance of the general authority quoted in (i) above, certain charges such as administration, exchange of properties, assessed rental values, interest on capital and depreciation allowances, &c., are made between Government accounts through the Treasury Adjustment Account without cash payments or specific appropriation by Parliament. (vi) Interest. —In the accounts an average rate, at present 4 per centum per annum, is charged for all accounts with the exception of Housing Account. (vii) Rentals.—Some Departments occupying private premises actually pay rentals. Others occupying Government buildings are assessed annually with rental based on the average rate of interest, the cost or valuation of the property, and the class of building. (viii) Treasury Adjustment Account. —This is the equivalent of a " Head Office Account " in branch accounting, and through it are passed inter-departmental transfers and the total of cash transactions for the year. Separate accounts (see vi) having their own cash balances do not utilize a Treasury Adjustment Account. (ix) Values. When the provision of accounts and balance-sheets on a commercial basis bv all Departments was first instituted about 1922, it was necessary to bring numerous properties and assets into account by means of a fair valuation. New assets since then, or additions, are usually recorded at actual cost with any depreciation provision shown either as a deduction or separately. (x) Non-publication of Balance-sheets. —Publication of a considerable number of balance-sheets has been discontinued because of shortage of staff and as a paperconservation measure.

3

B— 1 [Pt. IV

ARAWA DISTRICT TRUST BOARD General Statement of Receipts and Payments for year Ended 31st March 1948 T-> 1 ! , Receipts £ £ -Bank balance at 31st March, 1947 ut - 0 , , , , Payments £ $ Reserve Bank of New Zealand: War bonds !! V. 2,looAdmtiXaMo^ N °' ' ' ' 2 ' l3 * N^Xlymen t - yBrant "" ~ M» "!! Miscellaneous ... oor. r Miscellaneous .. .. .. .. 7fi() . Workers' dwellings .. " 34J Workers' dwellings ]' Contributions and subsidies- 696 Grants ~ 798 Maraes, meetinghouses, &c. .. .q a a -M-araes .... .. • __.. _ „ Maintenance of meetinghouses ." " «o Maintenance of meetinghouses .. Miscellaneous .. g _ Education .. .. .. " i 97J a o opecial grants. .. ' ' ' ' 0 Deposits .. .. I >°JA 2- P °il tS •' •' '• •• Miscellaneous . . " " '" '' "' Miscellaneous . . .. _ ;' " * • Refunds " " '' ' ' Election of Board members .. • • .. 4Zb Arawa Maori' Council" 42 J library .•• .. !.' "" ? Maketu rents, taxes . . '' .... 2 Office furniture .. . . '' Interest .. '"" ' ' " A „ ank balance at 31st March, 1948 ''' oA,Election of Board members 2 '° 7B War loans- * " " 70 Liberty .. .. • Victory Loan .. . . " " " Ngati Pikiao Bond .. '' " " 1,405 £13,291 £13,291

4

B—l [Pt. IV]

Income and Expenditure for the Year Ended 31st March, 194-8 Part I Expenditure £ | Income f Education grants 1,677 Arawa District Trust Board .. .. 6 q UO Marae grants 511 Maketu : Interest, 1947-48 .. .. " " J 039 Members expenses . . . . . . . , _ . 69 Interest received .. . . .. .. ' Office rent .. .. .. , . . , gg Arawa Maori Council .. .. 2 Office expenses .. .. .. .. .. ~ 192 Discounts " " in Series 942 Fishing licences .. . . 2 Special grants 858 Maketu rents ] " " " Depreciation ...... .. , , 152 Maori arts and crafts : Maintenance .! .' " 64 Election of Board members 8 ! Te Miringa 2a : Rent .. " 16 Omnemutu sewerage . . .. .. ~ ~ 271 Liberty Loan : Loss on realization .. .. .. .. 6 Interest .. .. .. .. ~ , , _ _ 372 r> 5,156 Balance carried down .. .. .. .. . . 3 122 £8,278 Part II Expenditure £ Income +' Loans Repayment Reserve 1,761 Balance brought down .. .. 31 Accounts written off to special grants .. .. .. 859 Education Reserve .. " " ''4oo Bad debts written off 294 Maketu Farm : Profit for year ..!! " " X 321 Balance at 31st March, 1948 .. .. .. .. 22,076 Balance at Ist April, 1947 .. .. .. .. 20,'147 £24 '"° , £24,990

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B—l [Ft. IV]

' ARAWA DISTRICT TRUST m&KD~continued Balance-sheet as at 31st March, 1948 Liabilities £ • a . ~ Maori Trustee : Mortgage No. 1 9,682 Property investments—sZw n C ? i Visit ° rS r 7B Maketu Farm investment ... 37 352 Sundry accounts m credit : Maintenance of meetinghouses .. 127 Harakekeroa A 2 " A iSiKfi® held . in ,•• 101 Maori arts and crafts : Leasehold" " 73? Sundry villages ut 1 ees " •• •• 40 Maketu A, Section 134 : Prentice's House .. 271 sundry villages 1,394 Maketu A, Section 10b .. 7 « K«L 68 17 Maketu a! Section 99a .. " " " J5 Deposits ■■ ■■ 159 Te Miringa 2a . . .. "256 Election of Board members 68 Puketawhero Consolidation .. " 73 Fn ?l P ! y n SerVe 19 ' 358 Taheke Consolidation : Purchase " " 337 Income and expenditure 22,076 Tautara No. 20a .. .. Section 8, Block LI, Rotorua : Leasehold .. .. 113 Whakapoungakau 4k .. .. .. , _ 438 r -it. 39,916 Loans, mcludmg interest— Education suspense . . .. .. ~ 14 Miscellaneous .. .. .. .. .3 523 Workers' dwellings .. .. .. 2'344 | Sundry debtors : Villages and tribal .. .. .. 5^304 Equipment and plant, &c. . . ~ ~ .. '' '594 | Bank of New Zealand, 31st March, 1948 .. .. 373 Less outstanding cheques . . .. ~ 68 w i War loans investment .. .. .. .; _ _ 1 100 £53 > 100 £^UOO J. Z. N. Mitchell, Chairman. Kongo Winiata, Secretary. ~J he +^ U(ll1 l O ? C05 hav * ng T X^mi S ed the balance " slleet and accompanying accounts, required by law to be audited, hereby certifies them to be correct.— J. P. Rutherford, Controller and Auditor-General.

6

B—l [Pt. IV]

/ MAKETU FARM Profit and Loss Account foe the Period Ended 31st March, 1948 Dr. £ Gr. £ Depreciation .. .. • • • • ■ • • • 415 Dairy company shares : Interest .. .. .. .. 4 Interest .. • .. • • • • • • • • • • 2,039 Profit on run cattle.. .. .. .. .. .. 159 Maintenance cost .. .. .. .. •• ..4,827 Profit on dairy cattle .. .. .. .. .. 171 Profit, to Appropriation .. .. .. .. .. 1,321 Profit on pigs .. .. .. .. .. .. 334 Profit on sheep .. .... .. .. .. 878 Butterfat receipts .. .. .. .. .. .. 5,700 Sundry receipts .. .... ' .. .. .. 114 Wool receipts .. .. .. .. .. .. 1,242 £8,602 £8,602 Appropriation Account £ , £ Balance, Ist April, 1947 .. .. .. •• ..5,146 Balance, 31st March, 1948 .. .. .. .. ..1,321 Balance .. .. .. .. .. .. .. 3,825 £5,146 £5,146

7

B—l CPt. IV]

ARAWA DISTRICT TRUST BOARD— continued MAKETU FARM— continued Balance-sheet as at 31st March, 1948 (As incorporated in Arawa District Trust Board books for period ended 31s.t March, 1948) n 'j- i a Liabilities £ Capital Account, Arawa District Trust Board ai m a . ,i j , Assets £ £ Sundry creditors ... " " 4 J'}™ Land-development .. .. * 1,186 Buildings ..... Aqk ' Less depreciation . . ]] " 'jgg Replacement of sheds : Dairy .. I'ocn Implements and equipment '. '' " i 4?q ' Less depreciation ..'' '' ' , Q ~ 100 Office car and garage .. ~ 777 Less depreciation .. .' '' '' 60 Tauranga Power Board : Deposit . . | Dairy company shares . . . " " " ZfSundry debtors .. . . '' ' ' ' ' ' ' 17 Appropriation Account .. " " « , 1(i ' Less profit for year .. .. '' " l' 321 Cash at bank, 31st March, 1948 .. o koq 3 ' 825 Less outstanding cheques ..[[ ' ' 753 Stock on hand .. .. _ __ £42,362 I £42,362 A. Mclntyre, A.R.A.N.Z., Advisory Accountant to Board. J. Z. N. Mitchell, Chairman, Arawa District Trust Board.

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B—l [Pt. IV]

ELECTRIC SUPPLY ACCOUNT—STATEMENT OF ACCOUNTS AT 31st MARCH, 1949 Profit and Loss Account for the Year Ended 31st March, 1949, Compared With Year Ended 31st March, 1948 Gross Revenue Account

9

Dr. | 1 948-49. 1947-48. Cr. 1948-49. 1947-48. (J enerating-expenses — £ £ £ Sales of electrical energy — £ £ £ Hydro-electric — Bulk for resale .. .. .. 3,222,900 2,848,883 Arapuni .. .. .. 44,615 38,088 Other than for resale — Karapiro .. .. .. •• 17,483 12,832 Traction .. .. 54,783 53,471 Horahora .. .. .. . . ■ • 6,318 Industrial .. .. 161,832 157,853 Waikaremoana (Tuai) .. .. 41,373 26,271 Retail .. .. 169,138 150,221 Waikaremoana (Piripaua) .. .. 10,243 5,752 38.), io3 Waikaremoana (Kaitawa) .. . . 7,149 .. . . 3,608,653 3,210,4*8 Mangahao .. .. .. .. 18,754 15,166 Rents — Cobb River . . .. .. .. 21,092 38,152 Land and buildings .. .. 29, <46 2/ ,491 Lake Coleridge .. .. .. 22,600 20,265 Lines and plant .. .. .. 1,089 _ 1,286 Waitaki . . . . . . . . 15,956 13,$35 30,835 - - Arnold .. .. .. .. 3,305 3,356 . 28,777 Highbanli .. .. .. .. 17,570 7,160 Monowal .. .. 12,196 11,251 Miscellaneous revenue .. .. .. 21,917 19,197 ~— 232,336 197,946 Fuel — „ " King's Wharf ... .. .. 173,250 171,780 Penrose .. .. .. . . 11,968 22,517 Huntlv .. .. • ■ • ■ • • 26 8 Stoke 1,214 4,892 Dobson .. .. .. .. 13,631 25,940 200,063 — — 225,397 Purchase of power in bulk .. .. .. 460,215 348,854 Standby charges .. .. .. .. 38,725 34,517 931,339 806,714 Transmission system: Patrol and maintenance .. 95,124 76,961 Substations: Operation and maintenance .. .. ] 49,395 128,149 Communications system: Patrol and main- .. 24,338 15,568 tenance Distribution: Maintenance .. .. .. 48,282 33,727 System operation, testing, &c. .. . . .. 66,615 55,700 Administration costs and expenses .. .. 394,281 342,502 1,709,374 1,459,321 Balance, to Net Revenue and Appropriation 1,952,031 1,799,081 £3,661,405 £3,258,402 j £3,661,405 £3,258,402

B—l [PT. IV]

Depreciation Reserve Account

ELECTRIC SUPPLY ACCOUNT—STATEMENT OF ACCOUNTS AT 31st MARCH, 1949—continued Net Revenue and Appropriation Account

10

Dr. 1948-49. 1947-48. Cr. 1948-49. 1947-48. North Island Account balance • Interest — On capital liability at 3 J per cent, per annum Less interest capitalized £ 1,221,381 283,316 £ £ 167,606 1,204,946 294,308 Balance from Gross Revenue Account Interest Reserve £ 1,952,031 £ 1,799,081 60,997 On Depreciation Reserve at 4 per cent, per annum Depreciation at 1 per cent, per annum on completed works 938,065 163,7831,101,848 306,402 910,638 161,618 1,072,256 263,054 Social security charge Income-tax 23,054 153,178 176,232 356,401 11,148 21,684 144,076 Loan Redemption Fund Balance to General Reserve 165,760 191,402 £1,952,031 £1,860,078 £1,952,031 £1,860,078 1

Dr. 1948-49. 1947-48. Cr. 1948-49. 1947-48. Replacements, renewals, &e. .. .. .. .. Balance .. .. .. .. .. !. £ 97,922 4,460,848 £ 370,546 4,094,085 Balance Interest at 4 per cent, per annum Net Revenue and Appropriation Account: Depreciation at 1 per cent, on completed works £ 4,094,585 163,783 306,402 £ 4,040,459 161,618 263,054 £4,564,770 £4,465,131 £4,564,770 £4,465,131

Loan Redemption Fund Account

Taxation Reserve Account

General Reserve Account

B—l [Pt. IV]

11

Dr. 1948-49. 1947-48. Or. | 1948-49. | 1947-48. I 1 £ £ £ £ Balance at end of year .. 3,896,827 3,540,426 Balance . 3,540,420 3,349,024 Net llevenue and Appropriation Account: Amount available (a) 3oo, 401 rJl, 40' f or further redemption - £3,896,827 £3,540,426 £3,896,827 £3,540,426 1 (a) The provision for the redemption of loans was amended by section 8 of the .Finance Act, 1948, from 1 per cent, per annum, to J per cent, per annum as from 1st April. 1948. By the same Act the deficiency in the amounts set aside for loan redemption was deemed to be extinguished.

Dr. 1948-49 1947-48. Or. 1948-49 1947-48. Balance at end of year .. .. .. £176,231 1 Net. llevenue and Appropriation Account: Amount set aside to provide a reserve for income-tax and social security charge on the year's profits £176,231 1

Dr. 1948-49 1 00 Cr. 1948-49. 1947-48. Balance at end of year £11,148 .. Net Revenue and Appropriation Account £11, 148

B—l [PT. IV]

ELECTRIC SUPPLY ACCOUNT— STATEMENT OF ACCOUNTS AT 31st MARCH, 1949-continued General Balance-sheet at 31st March, 1949, Compared With Position at 31st March, 1948

12

Liabilities 31/3/49. | 31/3/48. Assets 31/3/49. | 31/3/48. Capital liability : National Development Loans Account at. 3J per cent, interest Current and accrued liabilities — Interest Sundry creditors .. ... '. Sundry credit balances £ 9io, 665 4,047 £ 38,080,487 914,712 £ 33,271,888 318,103 923,186 9,973 Operating capital — Hydro-electric plants — Arapuni Ivarapiro Lake Taupo Control Waikaremoana (Tuai) Waikaremoana (Piripaua) Waikaremoana (Kaitawa) .. • Mangahao Cobb River Lake Coleridge Waitaki Arnold Highbank Lake Pukaki Control Monowai £ 3,069,442 4,086,135 195,091 980,489 1,057,969 £ 1 £ 1 3,032,453 3,700,433 186,683 968,910 1,044,175 1,251,264 1,778,368 1,373,011 1,372,777 Reserves — Depreciation Reserve Loans Redemption FundUsed for redemption of loans Available for further redemption 3,540,426 356,401 4,466,848 3,896,827 4,094,585 3,349,024 191,402 640,470 949,703 2,177,884 147,663 513,768 480,245 638,603 859,166 1,980,671 147,601 508,310 3,540,426 207,698 17,657,936 207,283 14,647,065 341,476 Taxation Reserve General Reserve .. .. )'* \ [ 176,231 11,148 Fuel plants — King's Wharf Penrose Huntly Stoke .. .. .. .. Dobson 342,586 8,551,054 7,635,011 66,522 24,465 169,851 603,424 66,522 11,264 20,046 176,865 616,173 * - Transmission system Substations .. . .. • Communication •system Distribution system Offices, stores, land, and buildings Cost of raising loans .. .. Interest during construction on assets in operation 4,949,306 4,592,603 460,773 1,173,966 326,294 875,909 2,365,616 4,096,666 4,254,694 426,823 1,126 306 261,326 876,346 2,106,864 Works under construction — Hydro-electric plants — Maraetai Whakamaru Cobb River .. Lake Tekapo Lake Pukaki Control Transmission lines Substations Other works 4,527,403 158,638 472,222 1,544,071 621,471 208,202 1.199,650 1,853,587 141,060 33,005,827 10,726,304 546,777 209,112 28,412,263 9,864,715 545,068 229,784 Interest capitalized on works under con-, struction Surveys and investigations of other schemes '' I 44,488,020 39,051,830

B—l [Pt. TV]

E. Percy,-A.R.A.N.Z., Chief Accountant, State Hydro-electric Department. I hereby certify that the Gross Revenue and Net Revenue and Appropriation Accounts and the General Balance-sheet have been duly 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.

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Current and accrued assets — / Plant, motor-vehicles, and tools .. 504,969 538,778 Stocks of materials .. .. .. 1,276.470 1,018,120 Sundry debtors .. .. 971,711 911,330 Cash in Public Account .. .. 184,743 483,504 ' Imprests outstanding . .. .. 60,340 124,601 3,058,233 3,106,333 £47,546,253 £42,158,163 £47,546,253 £42,138 ,463 £ £ Contingent liability: Arrears of appropriation .. 1,166,804 to Loan Redemption Fund

B—l. [Ft. IV]

HAUKAKI PLAINS SETTLEMENT ACCOUNT Receipts and Payments Account for the Year Ended 31st March, 1948 ° A ® C , ount T £ Ordinary Revenue Account : Vote 7 " Lands and Survey £ Hauraki Plains' Ac? 1926— 6n S ' C " " " " 1,104 damage works: Stopbanks, clearing channels, and other Rates , rTI expenditure incidental to conducting drainage operations Miscellaneous" !! " " " " metaUing ° f r ° ads) ' materials 5* W + ork T s Account: Finance Act, 1932, section 7 (4) . . 5,805 Maintenance of completed works !! ! HS Transfei to Treasury Adjustment Account .. .. .. 5,319 Kai here Ferry— " -3,39 o Pontoon renewal .. . . .. g7Q Expenses .. .. ~ ,_ '' gg2 I 259 ! Transfer to Public Works Account . . .. 5'805 £9,700 | Revenue Account for the Year Ended 31st March, 1948 Dr. £ Cr Interest on capital .. .. .. .. 5>815 Accrued rents £ Administration expenses, rebates, and remissions .. .. '*642 Accrued interest on sales of land, &c.' o'S Kaihere Ferry (net cost of operating) 330 Loss for year carried down .. ;; BAMfmpreSyear' " " " ;; 764 Balance carried fonvard : Loss to 31st March, 1948 .. .. 383^788 £383 ' 788 £383,788 char^edTa'ld^ance^of! 1 iayabfe^t^lsfLreri^l^ 946 ' all ° WanCe has been made in the above Revenue Account for rent

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B—l [Ft. IV]

Rate Account for the Year Ended 31st March, 1948 Dr. £ I Cr. £ Maintenance of completed works .. I . . . 3,765 Balance at Ist April, 1947 . . .. .. .. .. .33 Remissions ............ 1 £ Rates levied for 1947-48 .. .. .. .. 3,366 Penalty on 1947-48 rates . . . . .. .. 21 3,387 Balance at 31st March, 1948 . . .. .. . . 346 £3,766 £3,766 Treasury Adjustment Account for the Year Ended 31st March, 1948 Dr. £ Cr. £ Capital Account .. .. .. .... .. 3,002 Balance at Ist April, 1947 .. * .. .. 380,734 Transfer to— Interest on Loan capital .. .. .. .. .. 5,815 Swamp Land Drainage .. .. .. .. .. 39 Lands and Survey Department Account : Administration Lands and Survey Department Account .. .. .. 3 Expenses .. .. .. .. ... .. 246 Balance, 31st March, 1948 .. .. .. .. 389,082 Transfer to Rangitaiki Land Drainage . . .. .. 12 Receipts and Payments .. .. .. .. .. 5,319 £392,126 £392,126

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B—l [Pt. IV]

HAURAKI PLAINS SETTLEMENT ACCOUNT— continued Balance-sheet as at 31st March, 1948 Liabilities | Assets Capital Accounts— £ £ £ j Improved lands handed over to Land Board for Loan capital, . .. .. .. 800,371 settlement— £ £ Less redemption .. .. .. 682,939 Leased .. .. .. .. .. 73,734 117,432 Unleased .. .. .. . . '745 Capital provided from Ordinary Revenue Account .. 26,130 Unpaid purchase-money for land sold on deferred 31,729 Value of Crown land set apart under Act .. .. 45,000 payment 1_ 106 208 Transferred from Discharged Soldiers Settlement 405 Unimproved value of lands .. .. .. ... 14^348 Account Works in progress : Expenditure on land in course of 188,967 reclamation, including formation, metalling of Less cash to credit of Land for Settlements Account 3,240 roads .. .. .. .. 714 385 185,727 Less amount written oft' .. .. .. 665,000 Capital subsidies— • • 49 ggg Employment Promotion Fund .. .. 10,084 Capital expenditure— Consolidated Fund .. .. .. .. 6,112 Employment Promotion Fund .. ... .. .. 10,084 16,196 Consolidated Fund .. .. .. .. .. 6,112 Sundry creditors .. ... .. .. .. 391 Artesian wells : Crown lands .. .. .. .. '217 Payments in advance .. ..... . . . 628 ' Buildings ...... . . . . '' 785 Writings-off in Suspense .. . . . . ~ 8 Wharves . , . . . . .. . , , [ g Treasury Adjustment Account .. .. .. .. 389,082 Machinery, plant, and tools .. .! . 1 !! 6,895 Stores . . .. . . . . ..• . . .. 6^755 Rate Account . . .. . . . . , . .. 346 Debtors— £ Rates- ... .. .. .. .. 178 Rents, &c. . . .. .. .. .. 40 Miscellaneous" .. .. .. .. .6,878 . ' 7,096 Losses in Suspense .. .. .. .. * .. 8 Revenue Account , .. .. .. .. 383, 788 £592,032 . £592,032 D. M. Greig, Under-Secretary for Lands. V. J. H. Pledger, A.R.A.N.Z.. Chief Accountant. I hereby certify that the Rate Account, the Revenue Account, and the Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return B-l [Pt. IV]. J. P. Rutherford, Controller and Auditor-General.

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B—l [Pt. IV]

/ DEPARTMENT OF ISLAND TERRITORIES N.Z.G.M.Vi " MAUI POMARE " Revenue Account fob the Year Ended 31st March, 194-8 Dr. £ Or. £ Salaries, wages, and overtime .. .. 18,429 Freights, passage-money, and miscellaneous Teceipts .. 47,510 Labour at island ports .. .. .. .. 4,202 Balance carried down .. .. .. .. .. 36,911 Victualling .. .. .. .. .. .. 4,975 Deck stores .. .. .. .. .. .. 950 Engine-room stores . . .. .. .. .. 1,713 Fuel oil .. .. .. .. .. .. 7,732 Lubricating- oil.. .. .. .. .. • • 449 Painting .. .. .. . . .. . . 857 Repairs .. .. .. .. .. .. 24,187 Docking .. .. .. .. . • • • 42 Laundry .. .. . . .. .. • ■ 374 Medical expenses and insurance .. .. .. .. 668 Stevedoring and tallying .. .. .. .. '7,621 Harbour Board charges ........ 1,183 , Agency commission .. .. .. .. . . 375 Water 107 Printing and stationery . . . . .. . . 251 Transhipping charges and freights .. .. .. 262 Audit fees .. .. .. .. .. .. 15 ' Miscellaneous . . .. .. .. .. . . 2,168 Depreciation .. .. .. .. .. . • 4,295 Head Office overhead expenses ........ 1,173 Insurance .. .. .. . . .. .. 1,414 Refunds of fares .. .. .. .. .. 979 £84,421 £84,421 £ £ Balance brought down .. .. .. .. .. 36,911 Working loss for year .. .. .. .. .. 38,796 Interest on capital .. .. .. .. .. 1 > 885 £38,796 £38,796

17

B—l [Pt. IV]

DEPARTMENT OF ISLAND TERRITORIES— continued Balance-sheet as at 31st March, 1948 Liabilities £ A „ . W 42,834 Stores on hand .. , Creditors £ Debtors : Sundry .. .. "" " 2 o'oio T)priflr+m Anto'l' " " " M.v. " Maui Pomare," less depreciation .. 42 834 Departmental 21,451 Net working loss for year .. ' 21,732 " ' ' ° Insurance Reserve .. .. .. 15 935 Treasury Adjustment Account .. .. .] '' 31'126 £lll ' 627 £111,627 A. Kuch, Accountant, Department of Island Territories. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the books and documents submitted for audit and correctly state the position as disclosed thereby, subject to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return B-l [Pt. IVI — J P Rutherford Controller and Auditor-General. L '

18

B—l [Pt. IV]

LAND FOR SETTLEMENTS ACCOUNT Revenue Account for the Year Ended 31st March, 1948 Dr. Cr. Expenses of a general nature— Revenue of a general nature : Interest on funds in— £ Interest on capital— £ Small Farms Account .. .. .. .. .. 230,779 Loans .. .. .. .. .. .. 465,467 Maori Affairs Department Account .. .. .. 3,641 Value of Crown land in estates .. .. .. 8,478 Revenue derived from estatesAccumulated funds of Cheviot Estate .. .. .. 18,593 Rents .. .. .. .. .. .. 367,775 Interest payable under section 208, Land Act, 1924 .. 575 Interest on salesAudit fees .. .. .. .. .. .. 250 Land .. .. .. .. .. .. 19,568 Expenses referring to estates— Buildings .. .. .. .. . . . . 3,045 Capital losses on revaluation, reallotment, &c. .. .. 18,344 Miscellaneous interest, &c. .. .. .. .. 73 Administration expenses .. .. .. .. 8,870 Royalties .. .. .. .. .. .. 769 Rebates .. . . . . . . . . . . 32,669 Land-development revenueRemission of rent, &e. .. .. .. .. 2,150 Rents .. .. .. .. .. .. 3,591 Rents, &c., Avritten off .. .. .. .. 1,023 Interest on sales, &c. .. .. .. .. .. 966 Protection of securities : Repairs, &c. . . . . . . 301 Interest on advances . . .. . . .. . . 7,259 Expenses chargeable to land-development revenue— Interest earned on sundry blocks farmed by the Department .. 1,125 Administration expenses . . . . .. . . 279 Miscellaneous . . .. . . . . 2 Rebates .. ... . .. ... .. 786 Revenue derived under the Deteriorated Land Act, 1925 : Compensation for injuries to workmen .. .. .. 62 Interest on advances .. .. .. .. 11l Miscellaneous . . .. . . . . . . . . 1 Expenses chargeable on revenue derived under the Deteriorated Land Act, 1925— Administration expenses . . .. . . . . 2 Rebates .. .. .. .. . . .. 9 Balance: Surplus for year carried down .. 80,845 £638,704 ' £638,704 , £ £ Balance brought forward .. .. .. .. 163,498 Surplus for year ended 31st March, 1948, brought down .. 80,845 Interest on capital moneys received from sale of Crown lands Balance carried forward : Deficiency to 31st March, 1948 .. 163,498 (section 13, Land Laws Amendment Act, 1926) .. .. 80,845 £244,343 £244,343 Note.—In accordance with Treasury approval T. 40/436 of 25th March, 1946, no allowance has been made in the above Revenue Account for rent charged in advance of, or interest accrued to but not payable at, 31st March, 1948.

19

B—l [Pt. J>\

LAND FOR SEITLEMENTS ACCOUNT— continued Balance-sheet as at 31st March, 1948 Liabilities General Assets Capital— £ £■ ' General L° a «s .. .. .. .. .. 16,948,109 n , £ Crown lands included in estates .. .. 211,940 ™ " •• •• ••• •• 850,550 Accumulated funds : Cheviot Estate , . 464' 877 ' I Moneys advanced to— £ Sales of Crown land under section 20, Land Act, ' ' Small Farms Account .. .. .. 8,704,506 1924 .. .. .. .. ..3 585 933 Maori Land Settlement Account .. .. 2,376,859 Capital transferred from Discharged Soldiers ' . 11,081,365 Settlement Account .. .. .. 12,980 Consolidated Fund : Interest, Small Farms Account .. 517,406 Cash referring to other Departments Losses in Suspense . . . . .. , , _ _ 1 705 and funds— £ Revenue Account : Loss to 31st March, 1948 .. 163,' 498 Rangitaiki Drainage District Account 96 I Hauraki Plains Account . . . . 3,240 I Crown Lands Account .. .. 1,273 Land— Estates Survey Liens Account .. ■ 8,944 ' Leaserl 0 , j Swamp Land Drainage Account .. 530 • tr i " " " .. 8,704,067 8 ut noo Unleased .. 47,025 l_ 91 237 922 ' 8,801,592 Deposits by lessees: Section 208, Land Act, 1924 .. " ' 37'584 P rovisional State forest .. .. • .. 3,153 Funds held under section 14 (-1), Land Subdivision in Counties ' Buddings and improvements unsold .. .. .. 4,440 Act, 1946 .. .. .. .. 5,577 Advances on mortgage : Section 35, Finance Act, 1940 .. 132 Consolidated Fund: For interest due— £ Sales debtors e On loan capital .. .. .. 712 40c t>, „ On fundp of other Departments and accounts : T m § s ' c< • • ■ • • • • • 59,926 On Maori Land Settlement Account .. 3,999 an '' '' 338,362 On capital moneys received from sale of Crown 398,288 lands (section 13, Land Laws Amendment Plant and machinery .. .. .. 3,835 Act, 1926) . . .. ~ ~ 80 845 Less depreciation . . .. . . .. 3 451 w ... 0 : 797,342 J 384 Writmgs-off m Suspense . . .. .. 1,706 Loading on Otago University endowment leases : Capital .. 906 Mutt V alley Land Settlement Account (see subsidiary accounts f n attached) .. .. .. .. 160 debtors for— £ Rents, royalties, instalments, &c. . . .. 34,125 Estates j Postponed charges .. .. .. 3,775 Payments in advance : Rents and instalments .. .. 5,830 j Departmental and miscellaneous .. .. 1,388 Sundry suspense accounts . . .... .. '414 39 288 Creditors, departmental and miscellaneous .. .. 2,078 j Realization Account .. .. .. . '32 c

20

B—l [Pt. IV]

Land-development i Land-development Land sot aside: Section 8, Amendment Land— p p Act, 1929 £ Leased 79,534 Areas under development: Crown lands .. 27,734 £ Unleased .. .. 9 592 Settled areas— '' '''' ' ' 89 126 Crown lands .. .. .. .. 41,065 Sales debtorsPrimary education endowment lands .. 178 Buildings, &c. .. . . .. 1 922 68,977 Land .. .. .. .. .. 13414 Payments in advance: Rents and instalments .. . . 932 ' gg 6 Capital accounts in credit £ Mortgage outstandings (not yet payable)— Current Account mortgages .. .. 3,560 Current Account .. . . 44 517 Realization Account .. .. .. 23 Instalment mortgage .. .. .. 97^448 Creditors, departmental and miscellaneous .. .. 167 I Crown and settlement lands under development 23 250 Free capital from Consolidated Fund .. .. .. 1,590 j Expenditure on development of Crown and settleAccrued interest on capital expenditure .. .. 4,229 ment lands— £ Free capital on blocks disposed of .. .. .. 386 Improvements .. .. .. .. 8,448 Chattels .. . . . . .. .. 2 J3O Seasonal and Livestock .. . . . . 12,257 22,835 Debtors for rents, instalments, water levies &c. .. .. 3,422 Realization Account . . . . .. .. l~ 837 Subsidies in respect of blocks disposed of . . . . 386 Unrecouped interest on development expenditure .. 4,229 Improvements Unsold Account: Blocks .. .. 912 Deteriorated Land Act, 1925 Mortgage outstandings— , £ Current Account . . .. . . .. 200 Instalment mortgage .. .. .. 1,933 2,133 Debtors for interest and principal instalments .. .. 7 £22,168,477 | £22,168,477 D. M. Greig, Under-Secretary for Lands. V. J. H. Pledger, A.R.A.N.Z., Chief Accountant. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return B-l [Pt. IV].— J. P! Controller and Auditor-General.

21

B—l [Pt. IV]

LAND FOR SETTLEMENTS ACCOUNT— continued, HUTT VALLEY LAND SETTLEMENT ACCOUNT (Subsidiary to Land for Settlements Account) PiROTiT AND LOSS ACCOUNT FOR THE YEAR ENDED 31sT MARCH 1948 Dr. Administration expenses .. QO ' ~ , Gr - , £ Rent Written off " " " " I interest on sales .. .. .. , Rebates .. " ;; ;; ;; ; • •• g I *** :: ill Interest remitted .... '' ° Balance (profit for year), transferred to Profit and Loss Appropriation Account . , . . , _ _ •> 544 j 12'672l 2 ' 672 | £2,672 T ' 40/436 ° f I>sth M " Ch ' ,M# - 1,0 h » s b »» #» rent charged in advance of, or Profit and Loss Appropriation Account for the Year Ended 31st March 1948 Dr. £ r ' BaW carried forward: Profit earned to 31st March, 1948 .. 233,591 Balance brought forward 9 * 7 Profit for year transferred .. ' ' £233, 59! £233,591

22

B—l [Pi. IV]

/ Balance-sheet as at 31st March, 1948 i A ssets Liabilities _, , .. ..1,180 Money's provided by Land for Settlements Account f° W2, ' S»te Tbtore (not yet payailc) «•*» Purchase of land .. •• •• 206' 888 i Sundry debtors— „ Street-formation Instalment— * Incidental expenses Zl ' Principal 393,728 Interest .. .. •• ' CJ Interest on capital provided .. •• 81 > 666 Rents .. •• 3,883 ah- on I I Profits transferred to Railways Department—n ~ tt i.A ' Profits realized in cash and paid to Railways Less deduction under section 11 (2) (a) of the Hutt Department .. •• •• ..155,719 Valley Land Settlement Act and section (2) of gg4 Balance unpaid on area taken for workshops . . 26,389 Balance due .. •••• • • 3 Losses in Suspense .. • • .■• "" Instalment paid m advance .. •• •• 27 Land for Settlements Account: Fund in hand available ior Writings-off in Suspense .. .. •• •• " <m *qi disposal under section 11 of Finance Act, 1932 .. J ,)U Profit and Loss Appropriation Account .. .. \. ' g 62] £233,621 | ' , "ILLZ'., D. M. Greig, Under-Secretary for Lands. V. J. H. Pledger, A.R.A.N.Z., Chief Accountant.

23

B—l [P T . IV]

/ DEPARTMENT OF MAORI AFFAIRS BUILDING CONSTRUCTION FUND (LAND FOR SETTLEMENTS- ACCOUNT) Revenue Account for the Year Ended 31st March, 1948 Ur. ■ Interest on capital .... r « fl r nu 6V \ * Depreciation of plant and equipment " " " m? ! ( liar g es against jobs for administration .. fi „ 2fi Repairs and maintenance . I rebates .. .. * •• Builders'maintenance " " At ! fj ollcla y "ay Suspense : Surplus .. 1Q Job adjustments .. " " " " Miscellaneous .. .. .. ' " " •• j* Losses— '"'"' • ■ • I rofit: Factory Works Revenue Account .. " " ,o Timber Yards Revenue Account .. . . ... 64 | lNet loss ' to Accumulated Revenue Account .. L 934 Motor-vehicles Revenue Account .. .. ' 07 Stores Revenue Account .. ..[. ' ' 1 789 l,BBO ! £8,711 I , | £8,711 Accumulated Revenue Account for the Year Ended 31st March, 1948 Dr. ' Balance, Ist April, 1947 .. * <Jr - * Net loss, from Revenue Account "" " " i JS? Adjustments .. * • •1,934 Balance, 31st March, 1948 " 0 '' • • .•• Z,OOo £2,096 £2,096

24

B—l [Pt. IV]

/ Balance-sheet as at 31st March, 1948 Liabilities £ Assets £ Loan capital: Land for Settlements Account .. .. 134,029 • Stores and store sheds .. .. .. .. 64 330 Liability to Consolidated Fund for interest on capital. . .. 11,474 Timber-yards 7'864 Grant from Consolidated Fund .. .. .. .. 1,938 Factory works !! !! '' " " 4 ' 410 Sundry creditors .. .. .. .. .. 3,497 Motor-vehicles .... i' qkr Stocktaking Suspense : Surplus .. .. .. .. 169 ' Writings-off in Suspense .. .. .. ~ ~ 99] Plant and equipment .. .. .. .. 9,199 Less Depreciation Reserve .. .. .. l, 731 7,468 Buildings under construction (797) .. .. .. .. 56,494 Sundry debtors . . . . .. , . . , ~ 6' 535 Suspense Account . . . . . . . . . . '45 Losses in Suspense .. .. .. .. ~ 99 1 Accumulated Revenue Account— £ Balance, Ist April, 1947 .. .. 162 Less adjustments .. .. . . 91 7l Add loss for 1947-48 .. .. .. .. 1,934 ! 2,005 £152,098 j £152,098 Notes.— (a) Administration expenses are paid from Consolidated Fund, vote " Maori Affairs," and are not debited to the Revenue Account herein. A charge of _- 2 - per cent, is levied against completed jobs and buildings under construction and refers partly to administration costs, (b) The above Kevenue Account includes profits and losses relating to the operation of stores and store sheds, timber-yards, factory works, and motor-vehicles. Subaccounts are produced in connection with such operations, and the items appearing in the above Balance-sheet represent the excess of assets over liabilities m ,. , sub-accounts. Depreciation on the assets of each of these activities has been written off as a charge against the Profit and Loss Accounts of each activity, ihe item ' Plant and.equipment " covers assets which cannot conveniently be grouped under the other four headings. T. T. Ropiha, Under-Secretary. M. J. Lawless, A.R.A.N.Z., Chief Accountant. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the departmental notes enfaeed thereon and to the explanatory notes dealing with departmental accounts generally as appearing at the commencement of parliamentary return B-l [Pt. IV].— J. P. Rutherford, Controller and Auditor-General.

25

B—l [FT. IV]

DEPARTMENT OF MAORI AFFAIRS— continued DISTRICT MAORI LAND BOARDS Combined and Separate Receipts and Payments Accounts for the Year Ended 31st March, 1948

26

— Totals. Tokerau. WaikatoManiapoto. Waiariki. Tairawhiti. Aotea. Ikaroa. South Island. Receipts Cash balances at 1st April, 1947 — In hand and at bank Imprests at Post Office £ 40,245 2,474 £ ' £ 10,541 £ 10,896 £ 3,732 222 £ 6,793 147 £ 5,157 916 £ 1,885 1,041 £ 1,241 148 Withdrawals from amounts on deposit with Maori Trustee 42,719 62,011 10,541 10,896 11 3,954 12,500 6,940 17,000 6,073 12,000 2,926 16,000 1,389 4,500 104,730 10,541 10,907 16,454 23,940 18,073 18,926 5,889 Rents and royalties Purchase-moneys and compensation Other receipts for beneficiaries 192,983 79,970 25,917 4,639 ' 7,165 812 13,288 14,780 2,742 36,439 5,919 1,198 36,816 1,366 6,871 77,477 34,196 10,967 18,281 14,244 3,120 6,043 2,300 207 298,870 12,616 30,810 43,556 45,053 122,640 35,645 8,550 Interest on — Mortgages and other investments New Zealand Government securities Commissions (not including transfers from blocks) 7,639 8,140 3,633 770 78 373 612 322 4,808 1,111 1,046 1,956 2,324 1,153 174 1,941 375 166 1,075 500 162 307 159 19,412 848 1,307 6,965 5,433 2,490 1,741 628 Repayments : Mortgages and other investments Farming receipts Miscellaneous receipts (including sundry deposits for- repayments, refunds, and recoveries) Receipts on behalf of Maori Trustee Special Housing Fund receipts 71,973 57,416 118,878 143,421 79,235 15,233 19,195 29 j231 1,194 14,911 18,581 19,366 5,052 48,563 4,428 13,557 37,337 24,276 22,324 43,371 5,969 6,242 33,140 6,449 59,144 3,419 6,687 6 * 283 17,897 5,422 228 1,153 2,271 470,923 C\1 ftr>G 54,052 71,600 133,277 108,394 36,289 3,652 Totals 893,935 87,664 97,076 138,575 207,703 251,597 92,601 18,719

B—l [Pt. TV]

27

Payments £ £ £ £ £ £ £ £ £ Payments to beneficiaries 179,376 7,087 21,334 29,039 42,410 53,279 21,045 5,182 Miscellaneous payments on behalf of bene152,027 18,722 16,729 60,540 21,787 14,957 15,597 3,695 ficiaries and Boards (including payments on deposits, refunds, &c.) Administration expenses 11,742 94 1,671 2,459 1,763 4,201 1,024 530 Investments — Mortgages and other investments 98,636 15,131 937 10,577 38,713 25,396 7,882 Purchase of land, buildings, furniture, &c. 5,311 3 253 2,074 1,487 1,393 67 34 Farming payments 51,809 39,026 12,783 Payments on behalf of Maori Trustee 132,765 17,904 4^413 40,543 55,732 14,173 Special Housing Fund payments 93,206 25,537 18,291 18,280 7,903 8,235 9,641 5,319 Total payments 724,872 66,574 77,119 127,382 193,632 175,976 69,429 14,760 Deposits with Maori Trustee 134,806 13,000 16,000 6,156 8,000 70,500 18,150 3,000 Cash balances at 31st March, 1948 — In hand and in bank 29,331 8,090 3,957 4,749 5,606 4,273 1,969 687 Imprests at Post Office 4,926 288 465 848 3,053 272 IRQ 06^ I Ua ? \/Uu Totals .. .. ... 893,935 87,664 97,076 138,575 207,703 251,597 92,601 18,719 •

B—l [PT. IT]

Income and Expenditure Account for the Year Ended 31st March, 1948

DEPARTMENT OF MAORI AFFAIRS— continued DISTRICT MAORI LAND BOARDS— continued Interest Account for the Year Ended 31st March, 1948

28

— Totals. Tokerau. Waikato- 1 Maniapoto Waiariki. Tairawhiti. Aotea. Ikaroa. South Island. Gr. Interest on mortgages and other investments Interest on amounts on deposit with Maori Trustee Interest on overdrafts £ 21,475 11,305 220 £ 1,320 720 £ 1,552 2,207 2 £ • 3,688 2,156 £ 5,982 352 £ 6,259 4,181 11 £ . 2,141 1,367 207 £ 533 322 33,000 2,040 3,761 5,844 6,334 10,451 3,715 855 Dr. Interest allocated to sundry blocks, accounts, &c. Balances, transferred to Income and Expenditure Account £ 9,042 23,958 £ 332 1,708 £ 1,065 2,696 £ 725 5,119 £ 561 5,773 . £ 3,973 6,478 £ 2,189 1,526 £ 197 658 33,000 2,040 3,761 5,844 6,334 10,451 3,715 855

— Totals. Tokerau. WaikatoManiapoto. "Waiariki. Tairawhiti. -■Xij JL 1/ JU W Aotea. Ikaroa. South Island. Income Net interest on investments Board commission Income from farms and other activities Sundry credits : Registration and lease fees, &c. £ 23,958 6,603 1,485 964 £ 1,708 289 170 £ 2,696 757 1,416 53 £ 5,119 1,249 60 40 £ 5,773 1,502 611 £ 6,478 1,784 40 £ 1,526 732 •9 50 £ 658 290 Expenditure Expenses of management — Contribution towards expenses of Department of Maori Affairs Audit fees Miscellaneous office and other expenses . . Depreciation on buildings, furniture, &c.. . Balance, being surplus for year transferred to Appropriation Account 33,010 2,167 4,922 6,468 7,886 8,302 2,317 948 £ 7,886 546 3,436 2,810 18,332 £ 80 303 51 1,733 £ 1,300 83 278 476 2,.785 i £ 1,176 80 1,215 657 3,340 £ 2,000 107 769 850 4,160 £ 1,856 110 742 527 5,067 £ 1,024 59 86 166 982 £ 530 27 43 83 265 33,010 2,167 4,922 6,468 7,886 8,302 2,317 948

B—l [Pt. IT

Appropriation Account for the Year Ended 31st March, 1948

29

— Totals. Tokerau. WaikatoManiapoto. Waiariki. Tairawhiti. j Aot6a. Ikaraa. South Island. Cr. Sundry adjustments previous- years (net) . . Surplus for year, transferred from Income and Expenditure Account Balance, 31st March, 1948 Dr. Balance', 1st April, 1947 ... Appropriations during year — Maori purposes Purchase of land, buildings, furniture, &c. . . Other Balanee, transferred to Assurance and Reserve Account £ 11,351 • 18,332 1,046 £ 6 1,733 1,046 £ 62 2,785 £ 11,021 3,340 £ 265 4,160 £ 5,067 £ Dr. 3 982 £ 265 30,729 2,785 2,847 14,361 4,425 5,067 979 265 £ 922 1,458 7,157 1,871 19,321 £ 922 10 1,853 £ 60 249 2 j 538 £ 1,186 4,010 9,165 £ 121 1,349 18 2,937 £ 10 1,448 3 * 609 £ 41 67 . 871 £ 30 34 201 30,729 2,785 2,847 14,361 4,425 5,067 979 265

B—l [Pt. IV]

DEPARTMENT OF MAORI AFFAIRS— continued DISTRICT MAORI LAND BOARDS— continued Combined and Separate Balance-sheets as at 31st March, 1948

30

— Totals. Tokerau. WaikatoManiapoto. Waiariki. Tairawhifci. Aotea. Ikaroa. South Island. Liabilities Liability to Maori beneficiaries — Amounts held under section 281, Maori Land Act, 1931, and other trusts — Specially invested (Section 101 (2), 1931) Invested in Common Fund Other amounts held — Specially invested (section 101 (2), 1931) At call £ 4,322 260,047 66,362 491,922 £ 11 j333 47 i i14 £ 2,805 25,655 3,994 79,432 £ 27!114 106,465 £ 100 3,862 29,324 90,350 £ 116,990 26,952 125,105 £ 1,317 68,129 5,780 25,603 £ 100 6,964 312 17,853 822,653 58,447 111,886 133,579 123,636 269,047 100,829 25,229 Sundry amounts held on deposit and in suspense — Maori Trustee (including Special Housing Fund) Other.. .. . . Sundry creditors Liability to Treasury for advances under section 340, Maori Land Act, 1931 13,580 67,901 3,345 276 300 17,714 . 337 3,391 6,098 * 1,210 18,561 1,032 , 3,941 14,584 414 2,980 10,342 1,104 276 1,418 598 . 347 340 4 111 85,102 18,351 9,489 20,803 18,939 14,702 2,363 455 Office reserves, including balance of Appropriation Account Totals 295,711 Dr. 943 39,387 80,345 78,341 83,620 11,334 3,627 1,203,466 | 75,855 160,762 234,727 220,916 367,369 114,526 29,311

B—l [Pt. IV]

T. T. Ropiha, Under-Secretary. M. J. Lawless, A.R.A.N.Z., Chief Accountant. I hereby certify that the Balance-sheet and accompanying accounts have been compared with the accounts and Balance-sheets of the respective Maori Land Boards, and correctly state the position as disclosed thereby.— J. P. Rutherford, Controller and Auditor- General.

31

Assets ' Cash balances — In hand and in bank Imprests at Post Office .. investments — Common Fund — Mortgages and charges Farm properties On deposit with Maori Trustee Advances on overdraft to blocks, &c. Government securities Company shares Particular estates — Mortgages Government and other securities Sundry debtors Interest and instalments (due and accrued) . . Land and buildings Office equipment, &c. Totals £ 29,331 4,926 £ 8,090 £ 3,957 £ 4,749 1 288 £ 5,606 465 £ 4,273 848 £ 1,969 3,053 £ 687 272 34,257 8,090 3,957 5,037 6,071 5,121 5,022 959 216,509 103,613 429,948 28,159 243,775 101 12,875 57,809 16,004 27 \573 1,045 22,865 12,986 11,698 83,416 5,814 20,049 6,148 651 23.617 54.618 70,695 14,178 49,065 52,808 35,643 13,949 1,395 61,302 29 i 424 90,241 180,000 1,579 44,509 1,560 25,392 16,563 1,654 42,227 3,893 35,685 101 5,167 1,930 4,290 12 j088 255 10,300 412 1,092,789 67,487 140,762 212,173 194,521 343,281 107,220 27,345 4,969 1,687 1 174 336 107 4,485 1,219 12 53 76 187 6 6,656 175 443 5,704 12 53 263 6 43,328 26,436 io3 11,083 4,517 6,097 5,716 11,543 8,769 14,605 4,309 2 j 021 1,001 69,764 103 15,600 11,813 20,312 18,914 2,021 1,001 1,203,466 75,855 160,762 234,727 220,916 367,369 114,526 29,311

B—l [Ft. IV]

DEPARTMENT OF MAORI AFFAlRS— continued MAORI HOUSING ACT, 1935 (LAND FOR SETTLEMENTS ACCOUNT) Receipts and Payments Account for the Year Ended 31st March, 1948 • Receipts Payments Repayments by Maoris £ £ Expenditure on dwellings— £ £ Principal .. .. .. .. .. 41,103 Purchases .. .. .. .. .. 11,252 Interest .. .. .. .. .. 10,467 Erection .. .. .. .. ..124,386 Deposits against advances .. .. .. .. 7,402 j Miscellaneous .. .. .. .. . . 432 Rehabilitation interest concessions .. .. .. .. 151 : 144,816 Balance, withdrawal from Land for Settlements Account .. 86,578 j Refunds of deposits .. .. .. .. .. 885 £145,701 | £145,701 Revenue Account for the Year Ended 31st March, 194-8 Expenditure « £ j Income £ £ Interest on loan capital .. .. .. .. .. 9,037 ! Interest charged to loan accounts .. .. .. 10,934 Balance, being excess of income over expenditure .. .. 1, 738 i Less interest allowed on credit balances .. .. 218 10,716 Insurance rebates .. .. .. .. .. .59 £10,775 £10,775 Balance-sheet as at 31st March, 1948 Liabilities £ I Assets Loan capital: Land for Settlements Account .. .. 259,084 j Advances to Maoris (653)— £ £ Deposits against advances VnQfH /15,597 j Principal .. .. .. .. 300,673 Credit balances in loan accounts f L 460 j Interest outstanding ... .. .. .. 581 Sundry creditors .. .. .. .. .. 67 | 301,254 Liability to Consolidated Fund for interest on capital .. 19,896 ■ Suspense .. .. . . . . . . .. 123 j Accumulated Revenue Account— £ Balance, Ist April, 1947 .. .. .. 4,289 Excess of income over expenditure, 1947-48 .. 1,738 6,027 j » I £301,254 £301,254

32

B—l [Pt. IV]

Note.—(1) Separate accounts are published for the Building Construction Fund and for advances from Special Maori Housing Fund ; (2) labour subsidies are not recorded ifi these accounts ; (3) administration expenses are paid from Consolidated Fund, vote " Maori Affairs." T. T. Ropiha, Under-Secretary. M. J. Lawless, A.R.A.N.Z., Chief Accountant. T hereby certify that the Statement of Receipts and Payments, Revenue Account, and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return B-l [Pt. IV].— J. P. Rutherford, Controller and Auditor-General.

2—B-l [Pt. IV]

33

B—l [Ft. IV]

/ DEPARTMENT OF MAORI AFFAIRS— continued MAORI LAND {DEVELOPMENT AND SETTLEMENT Interest Account for the Year Ended 31st March, 1948 Dr. £ I Gr. £ £ Interest on loan capital .. .. .. •• ..77,565 Interest on advances under— Interest on advances : Consolidated Fund, under section 8, j Part I, Maori Land Amendment Act, 1936 Finance Act 1929 .. .. •• •• •• 72 Land under development .. .. .. 43,981 Amount transferred to Revenue Account .. .. .. 16,189 Settlers .. .. .. .. .. 49,603 9 3,584 Section 340, Maori Land Act, 1931 : Maori Land Boards .. .. .. .. .. 12 Section 48, Maori Land Amendment Act, 1936 : Maori settlers .. .. .. .. .. 230 242 £93,826 £93,826 Revenue Account for the Year Ended 31st March, 1948 Dr. £ Gr. £' Amount transferred to Accumulated Revenue Account .. 55,786 Amount transferred from Interest Account .. .. ..16,189 Stores on-cost, .dividends, insurance rebates, store profits, administration charge . . .. .. . < .. 2,344 Departmental charge on amounts— £ Expended on land-development .. .. .. 15,598 Advanced to settlers .. .. 21,655 , 37,253 £55,786 | £55,786 Accumulated Revenue Account for the Year Ended 31st March, 1948 Dt. £ Gr. £ Amounts written off: Advances to settlers .. .. 1,674 1 Balance, Ist April, 1947 .. .. .. .. .. 340,927 Balance, 31st March, 1948 .. .. .. •• 395,039 1 Amount transferred from Revenue Account .. .. .. 55,786 £396,713 | £396,713

34

B—l [P T . IV]

Balance-sheet as at 31st March, 1948 Liabilities £ I Assets Loan capital: Land for Settlements Account .. .. 1,817,618 Development and settlement— Liability to Consolidated Fund— £ Development schemes— £ £ £ Advances under section 8, Finance Act, 1928: Expenditure .. .. 1,201,953 Principal .. .. .. .. .. 1,800 i Crown land not paid for .. 9,445 Interest on loan capital: Land for Settlements j * Account .. .. .. .. .. 151,594 1,211,398 153,394 Unrecouped and accrued interest 195,955 Grant from Consolidated Fund: For losses on development Unrecouped and accrued departof land -for rehabilitation .. .. .. .. 50,000 ; mental charges .. .. 36,833 Sundry Creditors— £ j —. 1,444,186 Lands and Survey Department .. ..9,445 Advances to settlers .. .. .. 1,191,228 Employment promotion grant unexpended .. 215,519 ; Advances under section 48, Maori Land —- 224,964 | Amendment Act, 1936 .. .. 5,245 Writings-off in Suspense .. .. .. .. 18,265 j Advances under section 340, Maori Land Accumulated Revenue Account— £ Act, 1931, and including accrued interest 281 Balance, Ist April, 1947 .. .. .. 340,927 2,640,940 Add net increase for 1947-48 .. .. 54,112 ; Sundry debtors .. .. .. .. .. .. '75 395,039 Losses in Suspense . . .. .. .. 18,265 £2,659,280 i £2,659,280 ================ j ===== Notes.—(1) Expenditure from employment promotion grants on development schemes since inception amounting to £2,117,047 is not included in the development and settlement expenditure above. (2) Administration expenses have been paid from Consolidated Fund, vote "Maori Affairs," since Ist April, 1936, prior to which the salaries and expenses of the Field Supervisors were paid from Land for Settlements Account, vote " Maori Land Settlement," and were debited in those years to Revenue Account. (3) In previous Balance-sheets the loan capital was shown under two headings : "Land for Settlements Account" arid "Public Works Account," For book-keeping purposes these two items have now been amalgamated. T. T. Ropiha, Under-Secretary. M. J. Lawless, A.R.A.N.Z., Chief Accountant. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the departmental notes enfaced thereon and to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return B-l [Pt. IV] and to the following comments : (1) The loading of the various schemes for administration expenses is not sufficient to cover the full, cost; (2) moneys expended out of the " Surveys of Maori Land Account " on Maori land-development schemes have not been recouped ; (3) in the opinion of the Audit Office, expenditure from the Public Works Fund on Maori landdevelopment areas incurred prior to the assumption of control by the Maori Affairs Department and included in the Crown Lands Balance-sheet should be reflected in the accounts of the Maori land-development schemes.— J. P. Rutherford, Controller and Auditor-General.

35

B—l [Pt. IV]

0 DEPARTMENT OF MAORI AFFAIRS— continued MAORI PURPOSES FUND BOARD Receipts and Payments Account for the Year Ended 31st March, 1948 Balance, Ist April, 1947 . . . ■ Administration expenses .. Payn "f £ 2lB Interest : Maori Trust Office I ,848 Grants .. . ... zis Grants from Consolidated Fund 375 Equipment and library .. ! "'47 Requisitions on Maori Land Boards 200 Balance, 31st March, 1948.. .. 61 88 7 Sales of publications .. .. .. ~ ~ 117 " ..01,00/ Sale of land : Ngati-Kahungunu Trust . . . . . . 75 Sale of equipment . . .. . . , . 6 . I^2 Income and Expenditure Account for the Year Ended 31st March, 1948 Expenditure £ Income £ Administration expenses 1 95 interest: Maori Trust Office 1 848 S 0 , , , . Grant from Consolidated Fund . . . . . '375 Government Free Place Scholarships 900 , Requisitions on Maori Land Boards for specific purposes .. 200 Miscellaneous 600 Profit on sale of chisels .. .. 1 1 • free issue of publications .. 37 Profit on sa i e of publications .. " " 2 () .Balance, being excess of income over expenditure . . . . 712 £2^4

36

B—l [Pt. IV]

/ Balance-sheet as at 31st March, 1948 Liabilities Assets £ Special funds— £ Cash with Maori Trustee .. .. .. .. .. 61,887 Carnegie Corporation grant for Maori arts and crafts .. 342 Publications for sale .. .. .. .. .. 1,205 Ngati-Kahungunu Trust .. .. .. .. 85 Publication Account : " Mystery of the Moa" .. .. 222 Ruatoki Carved Meetinghouse . . .. .. .. 41 Pingao for sale .. .. .. .. ~ .. 5 Publication Account: "Native Custom" . . .. .. 17 Library . . .. .. .. .. , . . . 322 Unpaid grants .. .. .. .. .. .. 250 Furniture, fittings, &c. . . .. .. . . .. 76 Sundry creditors . . .. . . .. .. .. 3 Sundry debtors .. .. .. .. .. .. 81 Accumulated Fund— £ Balance, Ist April, 1947.. . . .. .. 62,348 Add excess of income over expenditure, 1947-48 .. 712 t 63,060 £63,798 £63,798 G. P. Shepherd, Maori Trustee. M. J. Lawless, A.R.A.N.Z., Chief Accountant. J. McEwen, Secretary to the Board. I hereby certify that the Statement of Receipts and Payments, Income and Expenditure Account, and Balance-sheet 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.

37

R—l [Pt. IV

DEPARTMENT OF MAORI AFFAIRS— continued MAORI REHABILITATION ASSISTANCE (LAND FOR SETTLEMENTS ACCOUNT) Receipts and Payments Account for the Year Ended 31st March, 1948 T , . , .. . Receipts £ £ Payments £ I repayments by Maoris Advances to Maoris .. .. .. 124 330 Principal .. .. .. .. ..24,123 ' " I **' oau Interest .. .. .. .. .. 2 671 26,794 interest concessions from War Expenses Account .. . . 276 Balance (withdrawal from Land for Settlements Account) .. 97,260 £124,330 £124,330 Revenue' Account, for the Year Ended 31st March, 1948 £ Or. £ Interest on loan capital .. ... 3;6 2 3 Interest earned on loans .... 2 685 Balance, being excess of income oyer expenditure .. .. 33 Interest recoverable from vote " Maori Affairs " '938 Insurance rebates .. ..• ' .; .. .. 22 Rent . . .. .. .. . . , 20 Stores on cost . . .. .. . . ~ J £3,656 £3,656

38

B—l [Ft. IV]

Balance-sheet as at -31 st March, 1948 Liabilities £ „ . /oom Asseis £ £ Loan capital: Land for Settlements Account .. •• 1 66,127 Advances to Maoris (38 J) 169 616 Liability to Consolidated Fund for interest on capital .. 4,048 Principal .. •• •• •• •• gg Credit balances in loan accounts (10) •• •• Interest .. .. •• •• 169,652 Sundry deposits against advances (47) .. ' ioi tri .... l'9lB Sundry creditors .. •• •• •• •• 121 *' ' 10"S«! Arable in tere ,t on 33 fpit al and recoveries from advances) .. .. 958 103 Other .. ••■• • • • • 98f . £172,556 £172,556 Note.— These accounts relate to loans for furniture, tools, houses, business, farms, and miscellaneous advances. Landßequired [for q r ®^ lkt^ 1 ° I | purposes in the process of being developed and prior to the permanent settlement of an ex-serviceman is included in a separate set of accounts, Maori Land Development and Settlement. T. T. Ropiha, Under-Secretary. M. J. Lawless, A.R.A.N.Z., Chief Accountant. I hereby certify that the Statement of Receipts and Payments, Revenue Account, and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return B-l [Pt. IV].— J. P. Rutherford, Controller and Auditor-General.

39

B—l [Pt. IV]

DEPARTMENT OF MAORI AFFAIRS— continued SPECIAL MAORI HOUSING FUND Statement of Receipts and Payments for the Year Ended 31st March, 1948 Balance, Ist April, 1947 ... 'f. .. 1 I n f ~ Payments £ Receipts (interest, repayments of principal, &c.) ..' 41,'059 Balance ° USeS ' &c ' ) ; 94,397 Grant from Consolidated Fund (equivalent to one-third Maori j ' ' 4 " ' 79,807 Trust Office profits for 1945-46) .. .. .. 1,440 £l74 > 204 Income and Expenditure Account for the Year Ended 31st March, 1948 Expenditure £ , T SrtW ° n , 190 Interest earned-Earthquake-risk insurance : Fund s proportion .. .. 55 On loans to Maoris / 7Q7 £ Rates . 1 " .. 5! On funds held by Maori Trustee" !^0 57 In»uiance . .. .. _ I Insurance rebates Kepairs and maintenance . . . 535 T > ' • * • • •. 44 Depreciation ;; fgf nted P ro P ertles : Rents received 624 7OS Excess of income transferred to Special Housing Fund . . 6,509 Special Housing Fund Account as at 31st March, 1948 Dv. £ Q Balance, 31st Maroh, 1048 ?1«,81# Balance, M April, 1947 «_ Additional grant .. .. .. " " i'4.4.Q Excess of income over expenditure for year.. '' 6'509

40

B—l [Pt. IV]

Balance-sheet as at 31st March, 1948 Liabilities £ Assets Special Maori Housing Fund 216,819 ! Land not yet built on— £ £ Deposits against advances (117) 1.1,039 Purchased .... 397 Credit balances m loan accounts (22) .. .. . , 228 Donated '' ' ' 2^ Sundry creditors .. .. ........ 52 " " " " "" _ 422 Suspense .. .. .. .. ~ ] Huts : Temporary accommodation (4) .. .. .. 252 Rented properties (14)— £ Acquisition of land and improvements . . 669 Erection of cottages .. .. .. 4,832 5,501 Less Depreciation Reserve .. .. .. 864 4,657 Loans to Maoris (486)— Principal .. .. .. .. .. 142,720 Interest outstanding .. .. .. .. 196 142,916 Sundry debtors .. .. .. .. .. ~ 106 Cash balances on deposit with— Maori Trustee .. .. .. .. .. 75,151 Maori Land Boards .. .. . . .. 4^655 7 9,806 £228,139 £228,139 • ExPL f A f5 r(^ Y Notes.— (a> To enable the Board of Maori Affairs to exercise fully its powers and functions in respect of Maoris who, in the opinion of the Board, are unable to furnish the, security under the Maori Housing Act and for the purpose of assisting the more urgent and necessitous cases, a Special Maori Housing Fund has been established by section 18, Maori Housing Amendment Act, 1938, consisting of grants totalling £168,264 winch, together with interest earned and other revenue is held by the Maori Trustee for disbursement through the Maori Land Boards as directed by the Board of Maori Affairs. All interest, repayments of principal, rents, and other accumulations belong to the Fund and may be utilized in granting advances for housing purposes. (b) Labour subsidies are not recorded in these accounts. & & T. T. Ropiha, Under-Secretary. M. J. Lawless, Chief Accountant, A.R.A.N.Z. I hereby certify that the Statement of Receipts and Payments, Income and Expenditure Account, and Balance-sheet 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.

41

B—l [Pt. IV

MAORI TRUSTEE Interest Account, 1947-48 Dr. £ Cr. £ Interest allotted on amounts held under— Interest on mortgages and other investments . . . 27 QQ2 Maori Land Act, 1931 '" ' Part 111 .. .. .. .. .. .. 11,305 Part X .. .. .. .. .. . . 1,472 Miscellaneous .. .. .. ~ . . 11l Maori Trustee Act, 1930 .. .. .. .. .. 1,294 Maori Purposes Fund Act, 1934-35 .. .. .. 1,848 Housing Amendment Act, 1938 .. .. .. 2,057 • West Coast Settlement Reserves Act, 1892 .. . . . . 187 Miscellaneous funds .. .. .. .. .. 1,536 Surplus, carried to Revenue Account .. .. 8,182 £27,992 £27,992 Revenue Account, 1947-48 Dr. £ Cr. £ Administration expenses : Contribution to Consolidated Fund .. 12,200 Balance from Interest Account .. .. .. .. 8,182 Department's portion of earthquake-damage premiums on buildings Commission .. .. .. .. [[ 6 Jl7 subject to mortgages and charges .. .. .. .. 20 Fees .. .. .. .. .. '' '353 Net surplus, transferred to Appropriation Account .. .. 3,156 Net working profit on properties acquired under mortgage . . 724 £15,376 £15,376 Appropriation Account, 1947-48 Dr. £ £ I Or. £ Allocation of profits for 1945-46— j Balance, Ist April, 1947 .. .. .. .. .. 8,575 Paid to Consolidated Fund (one-third) .. .. 1,440 I Net surplus, transferred from Revenue Account .. s'ls6 Transferred to Assurance and Reserve Fund .. 2,880 4,320 Donation, New Zealand Federation of Tuberculosis Associations 27 Grant towards expenses of delegate, Lambeth Conference .. 100 Balance, 31st March, 1948 .. ~ .. ~ .. 7,284 £11,731 £11,731

42

B—l [Pt. IV]

Balance-sheet as at 31st March, 1948 Liabilities £ £ Assets £ £ Amounts held under— InvestmentsMaori Reserves Act, 1882 .. .. ..70,157 Local-body securities .. .. .. .. 5,000 West Coast Settlement Reserves Act, 1892 ... 54,275 Government securities .. .. ..296,780 Maori Land Act, 1931 £ | Short-term investments: Treasury bills .. 240,000 Part X .. .. .. .. 52,760 Mortgages .. .. .. .. .. 326,324 Part III: Maori Land Boards .. 429,948 j Advances (on overdraft) to estates and accounts .. 104,198 Miscellaneous .. .. .. 8,012 j Properties acquired under mortgage , .. 17,803 Special investment .. .. .. 350 J Post Office Savings-bank war service gratuity 491,070 ' accounts .. .. .. .. .. 52,177 Maori Trustee Act, 1930 .. .. ..104,152 ; Maori Hostels Fund .. .. 15 024 Maori Purposes Fund Act, 1934-35 .... 61,887 [ 1 057 306 Maori Housing Amendment Act, 1938 .. .. 75,151 ! Interest and rent due and accrued .. .. .. ' 14,748 Ngaitahu Claim Settlement Act, 1944 . . . . 39,385 I Sundry debtors . . .. .. .. .. 20 Finance Act (No. 2), 1946: Whakatohea claim Losses in Suspense 1 settlement .. .. .. .. ..20,000 Cash balancesMaori Purposes Act, 1946: Maori Hostels Fund 20,000 In hand .. .. .. .. .. 40 Miscellaneous funds .. .. .. .. 25,955 ' At bank .. !! !. . . .! 7,486 962,032 At branches .. .. .. .. 8,924 Sundry creditors .. .. . . .. .. .. 477 At Post Office .. .. .. .. 105 Writings-off in Suspense .. .... .. .. 1 jg ggg Reserves— ' Reserves against unpaid interest .. ~ 1,218 Special reserve against claims .. .. .. 159 Assurance and Reserve Fund .. .. .. 116,426 Investment Fluctuation Account .. .. .. 1,033 Profit and Loss Appropriation Account .. .. 7,284 126,120 £1,088,630 . £1,088,630 T. T. Ropiha, Under-Secretary and Maori Trustee. M. J. Lawless, A.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, documents, and securities submitted for audit, and correctly state the position as disclosed thereby.— J. P. Rutherford, Controller and Auditor-General.

43

B—l [Pt. IV]

NEW ZEALAND BROADCASTING SERVICE NATIONAL DIVISION Income and Expenditure Account for Year Ended 31st March, 1948 xr * j,, Expenditure £ Income t Net expenditure on programmes, including payments to Radio licence fees .. 47 0% 7 , artists, broadcasting rights, copyright fees, recorded pro- Interest on investments It'nit grammes, relay lines, and sundry miscellaneous items .. 107,043 Rents " " " o'o^V Expenditure on National Orchestra and concert £ Miscellaneous receipts !! 'of 7 LeL r ™«X-e o edr ,BartlßtS !! " {ft" Excess of income over expenditure * 3,93 1 General administrative and running expenses, including rents, rates and insurance, lighting and heating, legal and audit/ printing and stationery, salaries and wages, telephone services, repairs and maintenance of buildings and office and studio fittings, operation and maintenance of transmitting equipment, fees for technical trainees, and sundry miscellaneous items .. .. .. . , jgg gg2 Payments to stations operated under contract and subsidies to " B " stations . . .. ~ _ _ _ j 279 Expenses in connection with the broadcasting units overseas and troop entertainment in New Zealand . . .. 2 345 Contribution to Radio Research Committee . . .. '5OO Depreciation provisions and writing down of assets .26 747 Balance carried down : Surplus for year .. .. .. ] 26 903 £507,320 . £507,320 ===== £ Balance ™ ajq mo Bajance brought forward from previous year .. .. 2,316,810 •• 443, 713 Balance brought down .. .. _ 226 903 £2 ' 443 ' 713 £2,443,713

44

B—l [Pt. IV]

Balance-sheet as at 31st March, 1948 Liabilities £ Assets £ Creditors .. .. .. .. .. .. 32,070 Cash in bank .. .. .. .. .. .. 180,933 Appropriation Account .. .. .. .. 2,443,713 Debtors and prepayments .. .. .. .. 68,271 Works in progress, stock of technical equipment, disks, and needles .. .. .. .. .. .. 107,003 Newsprint stocks .. .. .. .. .. 6,615 Unplayed episodes of features .. .. .. .. 22,016 Investments in New Zealand Government securities .. 1,830,000 Land and buildings .. .. .. .. .. 162,026 Machinery and plant .. .. .. .. .. 62,958 Office and studio equipment .. .. .. .. 34,976 " B " station purchases . . .. ~ ~ 985 £2,475,783 £2,475,783 James Shelley, Director of Broadcasting. W. J. Crowther, Accountant. I hereby certify that the Income and Expenditure Account and Balance-sheet 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.

45

B—l [Pt. IV

NEW ZEALAND BROADCASTING SERVICE— continued COMMERCIAL DIVISION Income and Expenditure Account for Year Ended 31st March, 1948 Expenditure £ Expenditure on programmes, including payments to artists, Income £ broadcasting rights, copyright fees, recorded programmes, Sales of station time .. .. .. .. 248 392 relay lines, and sundry miscellaneous items .. .. 31,765 Accreditation fees .. ." ' 20 General administrative and running expenses, including rents, Interest on investments .. .. .. .. .. 3 202 and insurance, lighting and heating, legal and audit, Service fees .. .. .. .. ~ . 2,941 printing and stationery, salaries and wages, telephone services, Miscellaneous receipts .. .. .. .. .. 216 repairs and maintenance of buildings and office and studio fittings, operation and maintenance of transmitting equipment, advertising, commission and sundry miscellaneous items .. 187,046 Depreciation provision and writing down of assets .. .. 6,490 Balance carried down : Net profit for year .. .. .. 29,470 £254,771 £254,771 £ £ Provision for taxation .. .. .. .. 17,300 Balance brought forward from previous year .. 167,148 Less excess provided in previous year .. .. 31 £ Balance brought down .. .. . 29 470 17,269 Balance .. .. .. .. .. .. 179,349 £196,618 £196,618

46

B—l [Pt. IV]

Balance-sheet as at 31st March, 1948 Liabilities £ Assets £ Creditors .. .. . ■ •• •• •• 14,557 Cash in bank .. .. .. .. .. .. 27,396 Deposit Account .. .. .. .. • • 251 Cash on deposit .. .. .. . . .. .. 251 Revenue received in advance ........ 831 £ Provision for taxation .. .. .. .. .. 17,300 Debtors and prepayments .. .. ..33,880 Writings-off provision .. .. .. • • •. 73 Less provision for bad debts .. . . i. 459 Appropriation Account .. .. .. •• •• 179,349 33,421 Investments .. .. .. .. .. .. 120,000 Land and buildings .. .. .. .. .. 3,541 Machinery and plant .. .. .. .. .. 7,235 Office and studio equipment .. . . .. .. 20,444 Assets in Suspense .. .. .. .. .. 73 £212,361 £212,361 James Shelley, Director of Broadcasting. W. J. Crowther, Accountant. * I hereby certify that the Income and Expenditure Account and Balance-sheet 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.

47

B—l [Pt. IV]

POST AND TELEGRAPH DEPARTMENT SAVINGS-BANK BRANCH Profit and Loss Account for the Year Ended 31st March, 1948 Dr. £ I Gr Interest credited to depositors 3,626,952 I Interest received 4 269 990 £ kTIT ' 4-'' a 415 ' 582 Plus interest accrued to 31st March, 1948 '921 1301 Balance, carried to Appropriation Account .. 295,428 I ' 5,191,291 Less interest accrued to 31st March, 1947 878,691 I 4,312,600 Sundry receipts .. .. , . .. ~ 25,362 £4,337,962 £4^962 Appropriation Account for the Year Ended 31st March, 1948 Dr. £ Q r ? a i d . Consolidated Fund .. .. 279,176 Balance brought forward .. .. . 866 488 Balance due to Consolidated Fund (section 95 (c), Post and Profit and Loss Account .. " 295 428 leiegraph Act, 1928) .. .. .. 882,740 ' " " £1,161,916 £1,161,916

48

B—l [Pt. IV]

Balance-sheet for the New Zealand Post Office Sayings-bank as at 31st March, 1948 Liabilities £ Assets £ Balance at credit of depositors' accounts .. .. 161,102,410 Cash on hand and at bank .. .. . • •• 244,110 Letters of credit and other liabilities .. .. .. 116,961 Investments .. .. .. •• •• 'Hr? Liability to Treasury for investments held on account of war Interest accrued on investments ..• • • • iq ai k gratuity accounts .. .. .. • • • • 13,588 Sundry debtors .. .. ... 19,815 Reserve Fund . . .. .. .. • • 1,974,159 Amount due from Treasury for 5 per cent, bonus credited to Profit and Loss Appropriation Account .. .. 882,740 war gratuity accounts • • 605,519 Stock of home safes .. .. .. • • • • 88 £164,089,858 £164,089,858 P. N. Cryer, Director-General, Post and Telegraph Department. J. J. Knight, A.R.A.N.Z., Director of Accounts. I hereby certify that the Profit and Loss Account and Balance-sheet 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.

49

B—l [Pt. IV]

POST AND TELEGRAPH DEPARTMENT— continued POST OFFICE Profit and Loss Account for the Year Ended 31st March, 1948 Dr. 0 £ Cr Maintenance and working expenses .. .. .. 6,444,312 Postages .. .. .. .. .. ..3,078,438 ™: St '• •• •• •• 630,549 Private box and bag rents and rural delivery fees' .." '77'986 Provision for reserves- Money-order and postal-note commission .. 77 967 Depreciation .. 837 , 200 Telegraph revenue 730404 Fire msurance 100,000 Toll revenue " 1 784 492 Earthquake and war damage 200,000 Telephone revenue " " 2'130 969 Net profit .. .. ... .. ~ 362,321 Revenue from wireless traffic .. .. .. .. ' 42'242 Rents received .. .. .. ~ 60' 158 Fees, &c., for services motor registration and licensing .. 72,'857 Fees, &c., for services as agent of other Government Departments .. .. .. .. .. 248,976 Interest on investments . . .. .. ~ 261 228 Miscellaneous revenue . .. .. .. _ _ g' ggg £8,574,382 j £8,574,382 Profit and Loss Appropriation Account for the Year Ended 31st March, 1948 Dr. £ Cr Payment to Treasury 889,638 Balance brought forward .. .. ' 9430409 Balance carried forward— Net profit for year .. .. " " \ao'ool Post and Telegraph Act, 1928, section 95 (d)\ £ Receipts on account of services rendered in previous 'years !! 23 due to Consolidated Fund .. .. 1,882,928 . Retained by Post Office .. . . 29' 270 1,912,198 £2,801,836 £2,801,836

50

R—l [Pt. IV]

Balance-sheet as at 31st March, 1948 Receipts and Expenditure on Capital Account

51

Dr. As at 1st April, 1947. Amount Debited During Y ear. As at 31st March, 1948. Cr. Capital as at Amount 1st April, Received 1947. j Duririg'Year. Capital as at 31st March, 1948. Expenditure — Telegraph and toll systems, including works in progress Telephone-exchange systems, including works in progress Wireless systems Terminal equipment, cable and wireless, cable station Buildings and sites Tools and plant Motor assets Furniture and fittings Aeradio systems — Communication equipment Buildings £ 3,681,717 11,-569,088 140,537 5,268,775 210,776 486,368 268,669 173,081 52,071 £ 106,386 822,097 5,955 43,373 312,960 36,061 90,809 52,795 Or. 173,081 Or. 618 £ 3,788,103 12,391,185 146,492 43,373 5,581,735 246,837 577,177 321,464 5i,453 Receipts — Public Works Account and National Development Loans Account Aeradio Adjustment Account (Consolidated Fund contribution to aeradio assets) Balance, carried to General Balance-sheet £ 18,739,708 225,152 £ 10,142 Dr. 173,699 £ 18,749,850 51,453 18,964,860 Dr. 163,557 18,801,303 4,346,516 21,851,082 1,296,737 23,147,819 23,147,819

B—l [Pt. !\

POST AND TELEGRAPH DEPARTMENT— continued General Balance-sheet Liabilities £ £ Assets £ Sundry creditors Capital Account balance .. .. .. 4 346 516 ey ;°, r P ayees unpaid money-orders 172,922 Stock at stores, &c., and in transit, at stock-list prices less onOther Administrations on money- order, postal, cost .. .. .. .. 2 542 970 and cable accounts .. .. 21,304 Investments in Government stocks on account of— Postal-note payees for unpaid postal notes 122,505 £ National Savings coupons sold and unredeemed 10,716 Post Office Investment Certificates .. 107 650 Other Government Departments .. .. 6,511,210 National Savings deposits and bonds 40,099,000 Sundry other creditors 2,901,285 Post Office Investments under section 100 of ~ . , 9,739,942 Post and Telegraph Act, 1928 .. .. 8,783,000 Fees paid in advance ..434,675 J__J_ 48 989 650 War Loan Certificate Account .. .. .. 3,193 Sundry debtors— ' ost Office Investment Certificate Account .. .. 92,229 Other Administrations on money-order account 109,700 National Savings Fund Account .. .. ..31,702,953 Sundry other debtors .. .. 959 006 .National Savings Bond Fund Account .. .. 8,648,561 " ' Reserve for depreciation and obsolescence .. .. 7,974,483 Postmasters' balances and cash in bank .. 4 988 903 lire Insurance Reserve •• •• .. 500,000 Less Savings-bank funds held in balance .. 244,' 110 .Reserve tor accumulated leave for servicemen .. 35,102 " 4 744 793 Earthquake and War Damage Reserve .. .. 1,145,609 Interest accrued on investments .. 496' 310 Profit and Loss Appropriation Account ... ..1,912,198 " ' £62,188,945 £62,188,945 P. N. Cryer, Director-General, Post and Telegraph Department, J. J. Knight, A.R.A.N.Z., Director of Accounts. I hereby certify that the Profit and Loss Account and Balance-sheet 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.

52

B—l [Pt. IV]

PRINTING AND STATIONERY DEPARTMENT Receipts and Payments Account for the Year Ended 31st March, 1948 Receipts £ £ Payments £ Printing, sale of stationery stores .. . . . . . . 512,806 Salaries .. . . .. . . .. .. 159,156 Publications and publishing .. .. .. .. 2,157 Wages .. .. .. .. .. .. .. 24,979 Sales— Allowances to officers performing higher duties . . .. 379 Stationery .. .. .. .. .. 10 ! Overtime .. .. .. .. .. .. 22,792 Second-hand typewriters .. .. .. 49 Transport expenses, night shift . . . . .. .. 802 Machinery .. .. , . , . .. 350 Purchases— Waste products .. .. .. .. 47 Paper, stationery, &c. .. .. .. .. ..372,020 456 Stores, &c. .. .. .. .. .. .. 25,726 Refunds— Freight, cartage, insurance, &c. .. . . .. . . 32,192 Salaries and wages .. .. .. .. 2,470 Machinery, new, and repairs to .. .. .. .. 19,668 Exchange . . .. .. .. . , 5 Type metal . . . . . . .. . . . . 75 Freight .. . . .. . . . . 1 Type and printing material . . . . . . . . 137 Postages .. .. .. .. .. 25 Fuel, gas, power, light, and water .. .. .. .. 2,051 Retired cheques, &c. . . . . . . 4 Medical services . . . . . . . . . . . . 10 Overcharges on purchases . . . . .. 59 Office equipment, &c. . . . . .. .. .. 290 Sales tax .. .. .. .. g Postages and telegrams .. .. .. .. .. 1,671 2,569 Telephone services .. .. .. .. .. 179 Balance, to Treasury Adjustment Account .. .. .. 160,330 Window-cleaning, rubbish-removal, &c. .. .. .. 241 Proportion of rent, &c., High Commissioner's Office . . 700 Wages : Cleaners, workmen, &c. .. .. .. .. 3,257 Proportion of cost of messengers' uniforms .. .. .. 40 Audit fee . . .. .. . . .5 . . 100 Repairs to premises .. .. .. .. .. 3,287 Rent of storage space . . .. .. .. . . 1,656 Maintenance of fire-alarms .. .. .. .. 205 Contingencies .. .. .. .. .. . . 5 Compassionate grants to dependants of deceased officers . . 201 Payment of monetary equivalent of leave due to deceased officers 87 Repairs to typewriters .. .. .. .. . . 14 Refunds to Departments for publications, &c., sold .. .. 6,398 £678,318 £678,318

53

B—l [Pt. IV]

PRINTING AND STATIONERY DEPARTMENT— continued Trading Account for the Year Ended 31st March, 1948 •p a >T ' ■ i £ £ Cr. .Paper and materials— Sales n Stock at beginning 83,997 Manufacturing 394 406 Add purchases .. .. .. .. 293,448 Less work in progress, 31st March, 1947 .. 46465 377,445 j 04 1 Less stock on hand, 31st March, 1948 .. .. 229,705 Add work in progress, 31st March, 1948 .. 56366 o, 147,740 ' stationery—Stock at beginning 19,796 Stationery .. .. OOO Add purchases 150,152 Publications .. .. .. " " 9 ; 346 Typewriters .. .. .. .. .. 17,'070 169,948 • Kqn noo Less stock on hand, 31st March, 1948 .. .. 37,532 Discounts received .. '489 t, • . 132,416 ; ........ Publications— Stock at beginning .. .. .. 12,345 Add purchases .. .. .. ~ 8 394 20,739 Less stock on hand, 31st March, 1948 .. .. 13,295 ' 7 >444 Typewriters— Stock at beginning .. . . .. ~ 2 867 Add purchases .. .. . . .. 13,'424 16,291 Less stock on hand, 31st March, 1948 .. .. 1 034 Wages—. 16 ' 26 ' Productive .. .. .. .. .. 115,297 Establishment .. .. .. 49 450 Stationery Office .. .. .. .. 16'443 Ereight, inwards .. .. .. 31' 070 Insurance .. .. .. .. , . '876 Lighting : Proportion .. . . . . ~ 692 Power .. .. .. . . .. 505 £?ei ;; ;; 6 n Water . . .. .. .. .. . t ] 62 ——- 215,106 Balance, transferred to Profit and Loss Account .. .. 72,542 £590, 505

54

B—l [Pt. IV]

Profit and Loss Account for the Year Ended 31st March, 1948 £ £ ' CjT • flfcakrin ... •• ■■ 16,203 Balance transferred from Trading Account .. .. 72,542 Kefirs Jmd alterations to buildings and plant .. .. 7,618 Storing and handling stationery, &c„ for other Government :: :: :: :: i:g :: :: :: Discounts allowed •• •• 155 Rent receivable Telephones: Rental .. •• •• * •• Medical services .. .. ■ • • • • • • • Lighting, &c. : Proportion . . • • • • • • Proportion of rent, &c., High Commissioner's Office .. . . "85 Office expenses .. .. . • • • • • • • 351 Sundry trade expenses .. •• •• •• " > j Audit fee 100 Wages: Cleaners, workmen, &c. ■■ •• jZtq Interest on capital .. •• •• •• •• 14,752 Depreciation— Buildings .. .. •• •• I>^2 Plant and machinery .. .. •• •• 8 >202 Furniture, fittings, and office equipment .. .. 299 Type and type metal .. .. • • • • 209 Accessories .. .. •• •• •• '' 8 Losses on disposal of assets . . • • • • • • I^o Rent of storage space .. .. •• •• •• ' ZZ Rent of offices .. .. • • • • • • • • °7 j . Balance carried down .. .. •• •• •• 11,£77,174 £ 77,174 - ■ i Balance brought down .. . • • • • • • • iLI > u '

55

B—l [Pt. I\

PRINTING AND STATIONERY DEPARTMENT— continued Balance-sheet as at 31st March, 1948 Liabilities £ £ a Capital Account— T , Assets £ £ Public Works Fund .. .. ] 12 623 " 54 . 359 Consolidated Fund .. Buildings 2 8,720 •• Plant and machinery— Creditors- " 368,801 | Composing plant ' 3j893 Departmental .. in ~ QS I composing plant 13 ,422 Sundry .. I Addreßsograph plant 458 8 ',121 Printing plant ... 22 *>2s Wages accrued .. °l'™ finding plant .'j 15 ; 324 Bad Debts Reserve ... 2 '?«o Ljtho plant 7 )99 « Writings-off Suspense Account .. " " , nqo plant .. 6,00! Deferred Maintenance (Buildings) Account a ' t? ?° yyeP e .. .. .. 770 Treasury Adjustment Account ount 4,500 Engine-room plant 935 Balance, Profit and Loss Account . 6,720 i 77 750 j Furniture, fittings, and office equipment .. .. .. 2'065 ! Type and type metal .. . . . . . , ' ' 14'282 | Accessories— ' '' ' I Composing Branch . . .. ~ 237 Machine Composing Branch . . . , , . "71 Printing Branch .. .. , , 52 I Binding Branch .. . . , . 30g 1 Litho Branch . . . . , . 75 Photo Branch .. .. _ . • g2 I Stereotype Branch .. .. .. _ ' 20 Engine-room .. .. . . 225 Paper-store ...... . ' '' 75 T , ~ 1,012 JL)e btors— Departmental .. .. 237 318 Sundr y 7'260 244 578 ! -Work in progress .. 56'366

56

B—l [Pt. IV]

Stock— On hand .. .. .. .. .. 281,017 In transit .. .. .. .. .. 364 On consignment .. .. .. .. 186 281,567 Stock Suspense Account .. .. .. .. .. 506 Assets to be written off .. .. .. .. .. 592 £661,797 £661,797 Gr. R. A. Norton, A.R.A.N.Z., Accountant. I hereby certify that the Receipts and Payments, Trading, and- Profit and Loss Accounts and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return B-l [Pt. IV] and to the comment that the asset " Type and type metal £14,282 " is not supported by stock-sheets.— J. P. Rutherford, Controller and Auditor-General.

57

B—l [Ft. IV]

KANGITAIKI LAND DRAINAGE SCHEME Rate Account for the Year Ended 31st March, 1948 Dr. Cap g al ' Maintenance, j Capital. Maintenance. Remissions ■ • • • • • • • 9 10 Balance as at Ist April, 1947 . . 4 859 » 377 Transfer to Reserve Fund 1,733 .. Rates struck for 1947-48 year .. " 10 511 11 £3 Interest on capital cost 8,222 .. Penalty (10 per cent.) added to rates .. " 129 137 Cost of maintenance 16,611 j Subsidy on maintenance costs . . .. 553? Balance as at 31st March, 1948 .. .. .. 5,535 8,943 .... 0,0 61 £15 > 499 £25,564 £15,499 £25,564 Revenue Account for the Year Ended 31st March, 1948 Dr. £ I Cr Interest on loan capital .. 19,567 i Accrued rent .. - £ i« s rr J mldm e • • 199 I Interest on capital cost recoverable b'v rates !" " 8 222 Losses of plant, &c., written off 36 Balance, transferred to drainage works not recoverable expenditure . . .. .. . . ~ .. 11 422 £l9 ' 802 | £19,802 Treasury Adjustment Account for the Year Ended 31st March, 1948 • £ > Qy. Receipts and Payments Account 11,758 Balance as at Ist April, 1947 .. 340^4 £wNrttraiwfe .. .. 12 j Lands and Survey Department Account !" " ' 2 Balance as at 31st March, 1948 357,098 Swamp Land Drainage Account: Net transfer .. 15 Interest on loan capital . . .. . . .. 19 557 £368 ' 868 £368,868

58

B—l [Pt. IV]

Receipts and Payments Account for the Year Ended 31st March, 1948 Receipts Payments Consolidated Fund: Miscellaneous Revenue— £ Vote " Lands and Survey"— £ £ Rates .. .. .. .. .. 24,112 Maintenance of completed works .. .. .. 17,741 Miscellaneous . . .. .. .. .. .. 6,009 Purchase of plant and machinery . . . . . , 587 Purchase of land . . .. .. .. 35 18,363 Transfer to Treasury Adjustment Account .. .. .. 11,758 £30,121 ; £30,121 Balance-sheet as at 31st March, 1948 Liabilities Assets £ £ £ Land ~ .. .. . . . . .. 35 Loan Capital .. . .. .. .. .. 489,169 Drainage works— Less cash to credit of Land for Settlements Account 96 Recoverable capital expenditure (section 11, Finance Act, — 489,073 1937, No. 2) ... .. .. .. .. 205,000 Free capital from Employment Promotion Fund . .. 891 Not recoverable : Capital expenditure and irrecoverable Reserve Account for repayment of capital cost .. .. 13,284 interest .. ... .. .. .. . .. 645,377 Unpaid purchase-money for land taken . . . . . . 210 Plant, machinery, and tools .. .. . . .. 1,886 Creditors: Miscellaneous.. .. .. .. .. 1,969 Buildings " ........ .. .. 4,924 Payments in advance : Rates .. . . .. .. 7 Goods . . .. . . .. . . . . .. 1,895 Rate Account— £ Debtors— Capital . . .. .. .. .. 5,535 Rates— £ Maintenance .. .. .. .. .. 8,943 Capital .. .. .. .. .. 5,762 -— 14,478 Maintenance .. .. .. .. 4,921 Writings-off in Suspense . . .. . . . . .. 36 Miscellaneous .. .. . . . . . . 526 Treasury Adjustment Account .. .. . . .. 357,098 11 209 Cash in transit from post-office .... .. * , . 5,793 | Expenditure from Employment Promotion Fund .. .. 891 ! Losses in Suspense .. . . . . . . . . 36 £877,046 I £877,046 D. M. Greig, Under-Secretary for Lands. Y. J. H. Pledger, A.R.A.N.Z., Chief Accountant. I hereby certify that the Rate and Revenue Accounts and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return 8.-l [Pt. IV.]— J. P. Rutherford, Controller and Auditor-General.

59

B—l [Ft. IV]

NEW ZEALAND SEPARATION ESTATES Profit and Loss Account for the Year Ended 31st March, 1948 <a i • DV ' & Gr. £ £ tt j.'" " " " "• " 5 >585 Profits from trading— Head Office overtime .. .. . . . . .. 2 76 Copra . . 27 089 Residential and Head Office Buildings : Maintenance— £ j Cocoa .. " aa' aa% General .. .. .. .. 1,790 j Desiccated coconut .. .. .. 3?'043 Casino Hotel 1,953 | Dri-dated bananas ' 1'436 Saleufi Butchery .. .. .. .. 471 '' ' ° rd •• U4O 112 004 hlipway .. .. .. ~ , t 45 Less losses from trading— £ r , n 5,399 Grapefruit .. .. .. 250 General expenses— Rubber .... 71 Audit fees 176 Timber " 485 -Beetle research ..... 2 ' Discount ;; is ~ ™ Furniture 138 i Rent receivable 3 807 General expenses . . . . .. , . 483 I Head Office sundry income— Indenture of Niueans .. .. .. .. 208 Commission .. 511 Leaupuni water-supply .. .. .. .. 67 Interest .. .. " " 13 London general expenses . . . . .. 125 Plantation stores ... 10 628 Motor-car hires ..... . . . 35 Sundry .. "" ' fi General Manager's car .. . . .. .. 443 j • .... Office car .. .. . . . . .. 590 ! p ro fit on working accounts— Plantation leases expenses .. .. .. 2 Carpenter's Shop .... 102 Postages and radios .. .. .. .. 404 Yard labour .. .. " " 213 Printing and stationery .. .. .. 452 ... ut Survey fees .. .. .. : . .. 41 Profit on realization .... 48 Transfer and removal expenses 39 Sales of meat and net stock increases .. " \-> 195 .Travelling allowances and expenses .. .. 303 j Plantation sundry income . ' " '31 5 Yaivase water-supply ........ 38 I . ' .... Weighbridge maintenance . . . . . , 7 3,571 I Depreciation . . . . . . ~ .. ~ 1 241 j Rates, taxes, and insurance . . . . .. ~ 872 Store turnover tax .. . . ~ . . ~ 1 892 i Rent payable .. .. .. .. .. .. ' 696 Marine engine : " Tuakolo " ..... . .. 75 Reserve for bad debts .. . . . , . . .. 92 Write off: Rental and interest . . . . . . . . 65 Reduction in price previous year rubber .. .. .. 502

60

B—l [Pt. IV]

Development Account: Written back— Asau Sawmill .. .. .. .. •• 2,039 Planer Shop .. ' .. .. • • 169 2,208 Losses on working accounts— Engineer's Shop .. .. .. 713 Planer Shop .. . . . . . . • • 49 Motor-lorries .. .. .. . ■ ■ • 667 Motor-boats .. .. . . •• 1,712 Casino Hotel .. .. .. •• 1,016 4,157 Profit transferred to Profit and Loss Appropriation Account .. 112,405 £139,036 £139,036 Profit and Loss Appropriation Account for the Year Ended 31st March, 1948 Dr. £ Transfer to Renewals Reserve .. .. .. 10,000 Balance, Ist April, 1947 .. : • ' * " " Balance, 31st March, 1948 .. .. .. •• 371,991 Profit and Loss Account, 31st March, 1948 .. .. •• 11-,4U0 £381,991 , £3BI > 991

61

B—l I'Pt. IV

NEW ZEALAND REPARATION ESTATES— continued Balance-sheet as at 31st March, 1948 Liabilities £ Assets £ Capital Account .. .. . . .. .. .. 656,465 Properties unoccupied: Land .. .. .. .. 43,398 Reserve trust funds— £ Properties occupied or leased— Blackboys Repatriation .. .. .. 836 Residential and Head Office— £ Plantation Renewals .. .. .. .. 22,011 Land .. .. .. .. .. 14,065 Niuean labour deferred pay .. .. .. 372 Buildings .. .. .. .. .. 19,241 Coolie Benevolent Fund .. .. . . 83 Plant and machinery: Ice-works .. .. 1,087 ——— 23,302 Furniture and office plant .. .. .. 4,137 Sundry creditors: Ordinary .. .. 10,909 38,530 Personal accounts in credit— Plantations leased— Land purchase .. .. .. 29 Land .. .. .. .. . . 84,273 Produce consignments .. .. .*. .. 5,933 , Buildings .. .. .. .. .. 10,246 Others .. .. .. . . .. 186 Improvements .. . . .. .. 4,032 17,057 98,551 Deposit Account . . . . . . . . .. 26 Plantations worked—Bank of New Zealand London Suspense .. .. .. 96 Land .. .. .. .. .. 292,873 Exchange Suspense Account .. .. .. .. 14 Buildings .. .. .. .. .. 46,449 Writing-off in Suspense . . .. . . .. .. 3,295 ) Improvements .. . . . . .. 45,448 Profit and Loss Appropriation .. .. .. .. 371,991 Plant and machinery .. .. .. .. 10,564 Furniture .. .. .. .. .. 1,515 Stores .. .. .. .. .. 3,078 Live-stock . . . . . . . . 27,965 427,892 i Aleisa buildings : Demolition .. . . . . 13 - 427,905 1 Sundry assets— Motor-boats .. .. . . • .. .. 1,599 Motor-vehicles .. .. .. .. 5,053 Plant and machinery . . . . ... . . 2,467 Leaupuni water-supply .. . . . . . . 74 9,193 ; Sundry debtors— Rents, &c. .. .. .. .. .. 5,426 Ordinary debtors .. .. .. .. 1,013 Sales of land (secured) .. .. .. .. 78 Sales of produce .. .. .. .. 18,329 24,846 Less reserve for bad debts . . .. .. 553 24,293

62

B—l [Pt. IV]

I Bank of New Zealand, London .. .. .. .. 10,473 i Paymaster-General's Account . . .. .. . . 295,464 Paymaster-General's Suspense Account . . . . . . 23 Stores on hand and in transit .. .. .. . . 28,300 Produce on hand .. . . .. . . 6,585 Losses on realization .. .. .. .. .. 19,924 Outstanding Losses in Suspense .. . . . . .. 3,294 ! Banana Scheme Account .. .. .. . . .. 20,417 ! Cash in hand and in bank . . .. .. .. 45,896 £1,072,246 j £1,072,246 New Zealand Reparation Estates : W. L. Edwards, for General Manager. I hereby certify that the Profit and Loss Account, trading accounts, and Balance-sheet 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.

63

B—l [Pt. IV]

SMALE FARMS SCHEME EX-SERVICEMEN'S SECTION Revenue Account for the Year Ended 31st March, 1948 Dr • ' £ ! o. £ Interest on capital: Loan capital .. .. .. 248,075 | Rents receivable .. .. .. .. "5 555 Accident compensation . . .. . . . . , t 1,192 Interest receivable £ Remissions of rent .. .. .. 75 Current Account mortgage 3 Capital losses on revaluation, reallotment, &c. . . . . 30 Instalment mortgage 43 Miscellaneous expenses .. .. .. .. .. 58 Water-supplies.. " " 562 Losses on disposal of properties to ex-servicemen—- £ gQg Ascertained loss for year .. .. ..37,675 . Interest on disposal of land and-improvements .. .. 25 508 Less recovered from reserve for losses on develop- j Interest on development expenditure recouped 75'282 ment of land for ex-servicemen .. ~ 37,675 j Balance: Loss for year carried down .. 122'477 £249,430 ~ a £249,430 Loss to 31st March, 1947 .. .. .. .. .. 243,033 £ Balance: Loss brought down .. .. .. .. 122'477 Balance: Loss to 31st March, 1948 365,510 £365,510 £365, 510 « . _ Note.— In accordance with Treasury approval T. 40/436 of 25th March, 1946, no allowance has been made in the above Revenue Account for rent charged in advance of, or rent or interest accrued to but not payable at, 31st March, 1948.

64

B—l [P T . IV]

Balance-sheet as at 31st March, 1948 w Liabilities Assets £ T3 Capital accounts: Liability to Consolidated Fund Leased land .. .. .. .. .. .. 817,450 s* under section 6, National Development Loans Blocks under development: Purchase-price of Act, 1941, for funds provided by Land for £ areas being developed, including value of £ u -' Settlements Account .. .. .. .. 7,113,373 education endowment land set aside .. 4,849,831 Reserve for losses on development of land for £ Gross capital expenditure on development .. 1,826,767 ex-servicemen .. .. .. .. 750,000 Expenditure on live-stock and farm working .. 896,857 £ Chattels .. .. .. .. .. 244,595 Losses recovered to date .. .. 52,780 Less from War Expenses Account .. 1,789 7,818,050 50,991 Less Value of blocks partly disposed 699,009 of— £ Land set aside for small farms : Education endowment land .. 10,124 Unimproved value .. .. 247,302 Creditors: Miscellaneous (departmental, &c.) .. .. 63,349 Improvements .. .. 669,963 Blocks in course of disposal (not finalized) .. .. .. 53,024 917,265 Payments in advance— £ 6,900,785 Bent .. .. .. .. .. 85 Compensation for land taken (recoverable on selection) .. 34,720 Interest: Instalment mortgages ~ .. 30 Water-supply schemes: Headworks .. .. .. 13,048 Water levies .. . . .. .. 328 Water Supply Account: Maintenance .. .. .. 160 443 Advances to mortgagors: Instalment mortgage .. .. 1,254 Accounts in credit: Current Account mortgages .. .. 24 Dairy companies' shares .. .. .... 663 Accrued interest on capital on blocks being developed .. 363,421 Lime companies' shares .. .. .. .. 30 Writings-off in Suspense Account .. .. .. 23,004 Deposits held by dairy companies .. .. 467 Treasury Adjustment Account .. .. .. .. 526,053 Less reserve .. .. .. .. 19 448 Debtors— Bent .. .. .. .. ... 7,029 Principal: Instalment mortgages .. .. 22 Water levies .. .. .. .. 998 Disposal of land and improvements .. .. 315,721 Miscellaneous (departmental, &c.) .. .. 7,561 331,331 Interest unrecouped on development expenditure .. .. 363,421 Losses in Suspense Account .. .. .. .. 23,004 Be venue Account: Balance carried forward .. .. 365,510 £8,851,824 £8,851,824

65

B r l ; [Pt. IV]

SMALL FARMS SCHEME— continued'. ■ V ; CIVILIANS' SECTION J. Revenue Account for the Year Ended 31st March, 1948 Dr ■ . 1 Cr. £ interest on capital £ £ j Rents receivable .. .. .. .. .. . 4 037 Loan capital .. .. .. .. .. 67,903 j Interest receivable— £ Consolidated Fund .. .. .. .. 1,560 j Current Account mortgage .. .. .. 2,812 ,69,463! Instalment mortgage .. .. 16 184 Rent payable 384 1 . Share-milkers' loans ; '47 Rebates ..••• •• .. ...... ... l,£>B6i ... Water-supplies ..' .. 520 .■Accident compensation .. .. .. .. .. -209; Miscellaneous .. .. " " n« Miscellaneous expenses .. .. .. • .. . , 16l j'' 19 079 Losses on realization of advances to small farms occupiers .. 4921 Interest accrued. On loan to Napier Harbour Roard .. 1636 Losses on disposal of developed blocks .. .. • .. 3; Interest on development expenditure recouped .. .. 44 '999 Capital losses on revaluation, reallotment, &c. .. .. 214; Rebates on superphosphate. ~ .. .. .. '99 1 Capital profits on revaluation, reallotment, &c. .. ... 107 £72,512| Balance: Loss for year carried down .. 1,155 To Balance : Loss brought forward from 3lst March, 1947 .. 186,498; . ' £72,512 Loss for year brought down .. . 1,'11j5 j £ ' Balance: Loss to 31st March, 1948, carried forward .. .. 187,653 ' ' .' . . £187,653 Note.— In accordance with Treasury approval T. 40/436 of 25th March, 1946, no allowance has been made in the above Revenue- Account for rent charged m advance of, or rent or interest accrued to but not payable at, 31st March,- -1948.

66

B—l [Pt. IV]

Balance-sheet as at 31st March, 1948 Liabilities . Assets £ Capital accounts : Liability to Consolidated Fund Leased land .. .. .. .. .. .. 87,800 under section 6, National Development Loans ; Unleased land .. .. .. .. .. .. 2 ,267 Act, 1941, for funds provided by— £ £ Blocks under development— Consolidated Fund .. .. .. 39,000 Purchase-price of areas being developed, including £ Land for Settlements Account .. .. 1,591,133 value of education endowment lands set aside 400,291 War Expenses Account . .. .. 4,842 Gross capital expenditure on development .. 2,027,405 1,634,975 Expenditure on live-stock, and farm working ... 78,284 Capital reserve : Special assets taken over at book value .. 39,453 { Chattels (including store buildings) .. 33,686 Subsidies— £ ! - - Employment Promotion Fund .. .. 504,294 ! 2,539,666 Consolidated Fund .. .. .. 605, 550 Less value of blocks partly disposed of— 1,109,844 £ Loan from Social Security Fund .. .. .. 3,161 Unimproved value .. 36,920, Land donated .. .. .. .. .. 368 Improvements .. .. 162 ,436 Land set aside for small farms : Education endowment lands 2,248 199,356 Creditors— £ 2,340,310 Rent .. .. .. .. .. 25 Loan to Napier Harbour BoardMiscellaneous (departmental, &c.) . . .. 12,011 Ahuriri Lagoon .. .. .. . . 35,089 12,036 ; Accrued interest .. .. .. .. 11,599 Water Supply Account: Maintenance.. .. .. 1,493 - 46,688 Payments in advance— £ Water-supply schemes : Headworks ~ .. .. 13,287 Rent .. .. . . .. .. 257 ; Advances to small farm occupiers— Principal: Instalment mortgages .. .. 202 ; Current Account— £ Interest— "£ j Improvements .. .. .. 17,354 Instalment mortgages .. .. 403 _ Stock and chattels .. .. 29,343 Current Account .... 35 46,697 438 Instalment mortgages .. .. .. 320,099 Water levies ........ 3 366,796 900 Advances under Share-milking agreements .. .. 722 Accounts in credit: Current Account mortgages .. 11,948 Deposits held by dairy companies .. .. 478 Accrued interest on capital on blocks being developed .. 286,643 Less reserve .. .. .. .. 117 Writings-off in Suspense .. .. .. .. 13,186 361 Treasury Adjustment Account .. .. .. .. 532,039 Realization Account : Leased areas in course of realization 4,720 Blocks in course of disposal (not finalized) .. .. 11,538 Carried forward .. .. .. .. £3,648,294 Carried forward .. .. .. .. £2,874,489

67

B—l [Pt. IV]

• SMALL FARMS SCHEME— continued CIVILIANS' SECTION— continued Balance-sheet as at 31st March, 1948— continued Liabilities £ Assets Brought forward .. .. .. , t 3,648,294 Brought forward .. .. .. .. 2,874,489 Debtors— £ Rents •• .. .. .. 1,559 Principal— £ Instalment mortgages .. .. 1,431 Share-milkers' loans .. .. '248 1,679 Interest— Instalment mortgages .. .. 2,542 Share-milkers' loans .. .. 31 Current Account .. .. 1,026 3,599 Water levies .. .. .. , t 553 Miscellaneous (departmental, &c.) .. .. 1,868 9,258 Interest unrecouped on development expenditure .. .. 286, 643 Losses in Suspense Account .. .. .. 13 186 Subsidies in respect of blocks disposed of— ' £ Employment Promotion Fund .. .. 163,810 Consolidated Fund .. .. ~ 113^255 277,065 Kevenue Account: Balance carried forward .. .. 187,653 £3,648,294 £3,645, 294

68

B—l [Pt. IV]

COMBINED SECTIONS Revenue Account for the Year Ended 31st March, 1948 Dr - £ £ Or. f Interest on capital— . Rents receivable .. .. w o Q2 Loan capital 315,978 Interest receivable— ' " £" ' Consolidated Fund 1,560 ( _ Current Account mortgage 2,815 t, , 317,538 Instalment mortgage .. .. .. IK 227 Rent payable .. .. .. .. .. .. 3g4 Share-milkers' loans .. .. '47 Rebates .. 1?586 Water-supplies " 1 082 Accident compensation 1,401 Miscellaneous " 'i? fi Miscellaneous expenses .. .. .. .. .. 219 '" " on Losses on realization of advances to small farm occupiers ' ! 492 Interest on disposal of land and improvements 25' 508 Capital losses on revaluation, reallotment, &c 244 Interest accrued on loans to' Napier Harbour Board " l'e36 Remissions of rent .. .. .. 75 Rebates on superphosphate ' 99 Losses on disposal of developed blocks (civilian) .. . . 3 Interest on development expenditure recouped .. 120 281 Losses on disposal of properties to ex-servicemen— Capital profits on revaluation, reallotment, &c. .. 'lo7 . . . , , £ Balance: Loss for year carried down .. .. 123 R39, Ascertained loss for year .. .. ..37,675 " Less recovered from reserve for losses on development of land for ex-servicemen .. .. 37,675 £321,942 Balance— £ £321,942 Loss brought forward from 31<st March, 1947 .. .. 429,531 £ Loss for year brought down 123,632 Balance: Loss to 31st March, 1948 553,163 £553 ' 163 £553,163 NoTB.-In accordance with Treasury approval T 40/436 of 25th March, 1946, no allowance has been made in the above Revenue Account for rent charged m advance of, or rent or interest accrued to but not payable at, 31st March, 1948. 0 rera

69

B—l [Ft. IV]

SMALL FARMS SCHEME— continued COMBINED SECTIONS— continued Balance-sheet as at 31st March, 1948 Liabilities Assets £ Capital accounts : Liability to Consolidated Fund Leased land .. .. .. .. .. 905, 250 under section 6, National Development Loans Unleased land .. .. .. .. .. 2',267 Act, 1941, for funds provided by— £ £ Blocks under development :—■ Consolidated Fund .. . . ~ 39,000 ' Purchase-price of areas being developed, Land for Settlements Account .. .. 8,704,506 including value of education-endowment £ War Expenses Account .. .. .. 4,842 land set aside .. .. .. 5,250,122 ' ■ 8,748,348 Gross capital expenditure on development .. 3,854,172 Lapital reserve : Special assets taken over at book value .. 39,453 Expenditure on live-stock and farm working.. . 975,141 Reserve for losses on development of land for £ Chattels (including store buildings) .. 278,281 ex-servicemen . . .. .. 750 000 ' T , £ 10,357,716 .Losses recovered to date . . .. 52,780 Less value of land, &c., disposed of— £ Less from War Expenses Account.. 1,789 Unimproved value .. .. 284,222 50,991 Improvements .. .. 832,399 a , 699,009 1,116,621 Subsidies- 9,241,095 Employment Promotion Fund .. .. 504,294 Compensation for land taken (recoverable on selection) .. 34,720 Consolidated Fund .. .. .. 605,550 Loan to Napier Harbour Board— £ • 1,109,844 Ahuriri Lagoon .. .. . 35 089 Loan from' Social Security Fund .. .. .. 3,161 Accrued interest .. .. 11599 Land donated . . . . .. .. . . 368 | 46, 688 Land set aside for small farms : Education endowment lands 12,372 Water-supply schemes : Headworks .. ' .. 26^335 Creditors £ Advances to small farm occupiers— ent ■ ■ • • • • • • .. 25 Current Account— £ Miscellaneous (departmental, &c.) .. .. 75,360 Improvements .. .. 17,354 — 75,385 Stock and chattels .. 29'343 Water Supply Account: Maintenance .. .. 1,333 46 597 Blocks in course of disposal (not finalized) .. .. 41,486 Instalment mortgages .. .. .. 321 353 Payments in advance— £ ' ' J ggg q^q ? e . nt . ;' '•■• • • : • 342 Advances under share-milkers' agreements ... . ' 722 Principal : Instalment mortgages .. .. 202 Dairy company shares .. .. .. . . 663 Interest £ Lime company shares .. .. .. 30 Instalment mortgages . . . . 433 £ Current Account . . . . 35 Deposits held by dairy companies .. .. 945 468 Less reserve .. .. .. .. 136 Water levies 331 • 809 •- 1,343 Realization Account ; Leased areas in course of realization .. 4,720

70

B—l I I'r. IVI :

Accounts in credit: Current Account mortgages ' .. 11,972 Debtors— £ Accrued interest on capital on blocks being developed .. 650, 064 Rents .. .. .. .. 8,588 Writings-off in Suspense .. .. .. .. 36,190 Principal— £ Treasury Adjustment Account, being interest on Instalment mortgages .. .. 1,453 capital— ' Share-milkers' loans .. . . 248 Due to Land for Settlements Account .. 517,406 I*7ol Due to Consolidated Fund (less net revenue Interest— paid direct) .. .. .. 540,686 Instalment mortgages .. .. 2,542 1,058,092 Share-milkers' loans .. .. 31 Current Account .. .. 1,026 3,599 : Water levies .. .. .. .. 1,551 Disposal of land and improvements .. 315,721 Miscellaneous (departmental, &c.) .. 9,429 340,589 Interest unrecouped on development expenditure .. 650,064 Losses in Suspense Account .. .. .. 36,190 Subsidies in respect of blocks disposed of— £ Employment Promotion Fund .. . i 163,810 Consolidated Fund .. .. .. 113,255 277,065 Revenue Account: Balance carried forward .. .. 553,163 £12,488,420 £12,488,420 ■ D. M. Greig, Under-Secretary for Lands. V. J. H. Pledger, A.RvA.N.Z., Chief Acoountant. . , Notes.—(a) Profits or losses from farming operations on blocks under development are included in the Revenue Account only when the final position is ascertained on realization of the block ; (b) interest on expenditure on blocks under development has been credited to Revenue Account ofily to the extent that trading results have enabled it to be met. The Balance has been credited to the Balance-sheet item "Accrued interest on capital on blocks being developed, £650,064 " ; (c) on disposal of the relative properties the portion of the loss in the Revenue Account relating to the settlement of ex-servicemen is chargable to the Reserve for Losses provided by the Consolidated Fund for the purpose and appearing in the Balance-sheet above. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the departmental notes enfaced thereon and the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return B-l [Pt. IV]. The following comments are appended : (1) The account does not bear a charge for the cost of expenses incurred by the Departments administering the scheme, other than a reduced charge for the supervision of the erection of cottages and milking-sheds ; (2) it is unlikely that the realizable value of certain properties is equal to the development expenditure thereon.— J. P. Rutherford, Controller and Auditor-General.

71

B—l [Pt. IV]

STATE FOREST SERVICE UTILIZATION BRANCH : ROTORUA CONSERVANCY Box Factory Working Account for the Year Ended 31st March, 1948 KiV 1947 9 ' 841 Sales of box'-shook .. .. 202 £ , qfi tw g XpenS6S 46,687 Sales of firewood .. . 202> SS? q i "' '' • • • • • • ■ • • 129,269 Servicing timber for yard .. nia Profit and Account: Net profit "" ;; 27 1751 Stocks of box ' shook ' 3lst March, 1948 !! " " i 2>415 £215>594 £215,594 Creosote Plant Working Account for the Year Ended 31st March, 1948 * £ (J p™'™ f im ? oßk ' d r "" ,dU ?' lat A '""' 1947 •• •• IS Sales of creosoted produce . i=o f JoXr gyard . •: i-jB Sr f Tt4 rodu T :: :: :: JSB Stocks of ereosoted produce, Ist April, 1947 .! i! " 5'S S- 7 9 ' SSZgjZ™?*".. Untreated produce, 31st March, 1948 .. .. 6 , 294 '• •• •• •• 63 Treated produce, 31st March, 1948 .. .. 7 358 Profit and Loss Account: Net loss .. ~ ] 1 'B3l

72

B—l [Pt. IV]

Sawmill Working Account for the Year Ended 31st March, 1948 Dr. £ Or. £ Stock of— Sales and issues .. .. .. .. .. 247.123 Logs, Ist April, 1947 .. .. .. .. .. 631 Stock of— Timber, Ist April, 1947 38,916 Logs, 31st March, 1948 .. * 2 027 Purchases _...... .. .. 103,989 Timber, 31st March, 1948 .. .. .. . 43'791 Wages, maintenance, &c. .. .. .. .. .. 126,635 Profit and Loss Account: Net profit .. .. .. 22,770 £292, 941 £292,941 Profit and Loss Account for. the Year Ended 31st March, 1948 Dr • £ Or. £ Net loss from Creosote Plant Working Account .. .. 1,831 Net profits from Balance, to Profit and Loss Appropriation Account .. .. 48,690 Box Factory Working Account .. .. .. .. 27,751 Sawmill Working Account .. .. .. 22,770 £50,52! £50,521 Profit and Loss Appropriation Account: for the Year Ended 31st March, 1948 Dr. s £ 'Gr. ' £ Interest to 31st March, 1948 .. .. .. 116,715 Balance as at 31st March, 1947 .. ~ .. .. 42 711 Less interest to 31st March, 1947. . .. .. 102,987 Net profit for year ended 31st March, 1948 .. 48'690 13,728 " Balance .. .. .. .. .. .. 77,673 £9!, 40! £91,401

73

15 ! [Pt. IV]

STATE FOREST SERVICE— continued UTILIZATION BRANCH: ROTORUA CONSERVANCY— continued Balance-sheet as at 31st March, 1948 „ , _ Liabilities £ Assets £ £ £ Sundry creditors 27,159 Plant 196,624 Fire Insurance Reserve 14 j665 Less depreciation 10,905 Jrront and Loss Appropriation Account .. .. .. 77,673 185 719* Head Office Account .. .. .. .. " 473'357 Less reserves for— Renewals and maintenance of motor-vehicles . 6,6.18 Abnormal depreciation and maintenance .. 9,091 170,010 Buildings .. .. ... .. .. 139,414 Less depreciation .. . . .. .. 3,937 135,477 Constructional units .. .. .. .. 48,793 Less depreciation .. .. .. .. 1,660 47,133 Departmental property .. .. .. 10,085 Less depreciation .. .. .. .. 987 9,098 Establishment Account .. .. .. .. 19,606 Less depreciation .. . . .. .. 1,610 17,996 Stores .. .. .. .. .. .. 72,355 Stocks— Logs .. .. .. .. .. .. 2,027 Sawn timber .. .. .. .. .. 47,320 Carpenters' timber .. .. .. .. 168 Box-shook .. .. .. .. .. 12,415 ~ Creosote .. .. .. .. ... 2,874 Untreated produce .. .. .. .. 6,294 Treated produce .. .. .. . 7,358 150,811 Sundry debtors— Trading .. ..... .. .. 53,006 Other projects .. .. .. .. 9,323 62,329 £592,854 £592,854 S. W. Trask, Sales and Office Manager. Examined and found correct.— J. P. Rutherford, Controller and Auditor-General. General Revenue Account and Balance-sheet of State Forests Account not available for this return ; accounts will be published together with accounts for the year 1948-49,

74

B—l [Pt. TV]

SWAMP LAND DRAINAGE SCHEME Receipts and Payments Account for the Year Ended 31st March, 1948 Receipts Payments Ordinary Revenue Account— £ Ordinary Revenue Account : Vote " Lands and Survey " Departmental receipts— ' Drainage works: Maintenance of completed works— £ £ Rents, swamp drainage lands .. .. .. .. 426 Waihi • .. .... . . 1 244 Rates— £ Kaitaia .. .. .. . . 2,480 Waihi .. .. .. .. .. 2,895 Poukawa .. .. .. .. .. 460 Kaitaia .. .. .. .. .. 4,024 4,184 Poukawa .. .. .. .. .. 959 Purchase of plant .. .. .. .. .. 8,471 7,878 Plant Operating Account .. .. .. .. 3,254 Miscellaneous .. .. .. .. .. 6,398 Transfer to Treasury Adjustment Account .. .. .. 1,207 £15,909 £15,909 Treasury Adjustment Account for the Year Ended. 31st March, 1948 Dr. £ • Or. £ Transfer— Balance, Ist April, 1947 .. .. .. .. ..380,888 Vote " Lands and Survey Account" .. .. .. 26 Receipts and Payments Account .. .. .. .. 1,207 Rangitaiki Land Drainage Account : Net .. .. 15 Hauraki Plains Settlement Account . . . . . . 39 Balance, 31st March, 1948 .. .. .. ..388,199 Interest on capital .. .. .. .. 6,106 £388,240 £388,240

75

B—l [Pt. IV]

SWAMP LAND DRAINAGE SCHEME— continued Rate Accounts for the Year Ended 31st March, 1948 KAITAIA DRAINAGE AREA Special Rate Accounts : Capital Rural Town -Rim r) Subdivision. Subdivision. « *E?- w - n -L>r. fen Subdivision. Subdivision. Transfer to reserve .. a 7 t, , , : . .. iri ._ £ £ Interest charges .. 9 ' nio 11 Ba ance, Ist April, 947 6,884 328 Remissions .. 2 ' 7 ?2 323 Rates levied, 1947-48 2,288 453 Balance, 31st March, 1948 a At o 7 o 10 per cent penalty on unpaid rates .. .. 23 2 •• ,9) 373 Remissions transferred to General Revenue Account 42 £9 > 237 £783 £9,237 £783 General Rate Accounts : Maintenance Rural Town t. , „ T) Subdivision. Subdivision. a . JJt. £ £ C Subdivision. SubdivisionCost of maintenance .. .. 9 098 977 t> 0 i„„ Yl \ -i £ £ Remissions .. 2 '°o! 277 Balance, Ist April, 1947 3>5 4 6 421 Balance, 31st March, 1948 o Jq Ak Rates levied, 1947-48 , 1,935 303 • • a, 4b J 449 10 per cent, penalty on unpaid rates .. .. 16 2 Remissions transferred to General Revenue Account 35 £5 ' S32 f™ . WAIHI DRAINAGE AREA Special Rate Accounts : Capital Pukehina Kaikokopu ut,,, , . „ , Ward. Ward K w° k ? pU Dr. £ £ Or Ward. Ward. Transfer to reserve .. ao O o i i 1 a •! £ £ Interest charges .. ut l 3 Balance, Ist April, 1947 878 531 Balance, 31st March, 1948 955 fl fates levied, 1947-48 .. 325 440 yij;> oyrf 10 per cent, penalty on unpaid rates .. .. 7 3 £1,21Q £974 £1,210 £974

76

B—l [Pt. IV]

General Rate Accounts : Maintenance Pukehina Kaikokopu Central Pukehina Kaikokopu Central Ward. Ward. Ward. Ward. Ward. Ward. Dr. £ £ £ Gr. £ £ £ Maintenance costs .. .. .. 52 733 455 Balance, Ist April, 1947 .. .. 967 461 412 Balance, 31st March, 1948 .. .. 1,004 656 563 Rates levied, 1947-48 .. .. 87 920 600 10 per cent, penalty on unpaid rates 2 8 6 £1,056 £1,389 £l,OlB £1,056 £1,389 £l,OlB POUKAWA DRAINAGE AREA Special Rate Accounts : Capital Dr. £ Gr. , £ Remissions— Balance, Ist April, 1947 .. .. .. .. .. 932 Transfer to reserve .. .. .. .. .. 221 Rates levied, 1947-48 .. .. .. .. .. 999 Interest charges .. .. .. .. .. .. 724 10 per cent, penalty added to unpaid rates .. .. .. 37 Balance, 31st March, 1948 .. .. .. .. .. 1,023 £1,968 £1,968 General Rate Accounts : Maintenance Dr. . £ Gr. £ Cost of maintenance .. .. .. .. .. 458 Balance, Ist April, 1947 .. .. .. .. .. 1,168 Balance, 31st March, 1948 ~ ~ .. .. 1,090 Rates levied, 1947-48 .. .. .. .. .. 311 10 per cent, penalty added to unpaid rates .. .. .. 12 Thirds .. .. .. .. .. .. .. 57 £1,548 £1,548

77

B—l [Pt. IV]

SWAMP LAND DRAINAGE SCHEME— continued Balance-sheet as at 31st March, 1948 Liabilities • f Assets Capital Account— Kaitaia Drainage Area— Liability to Consolidated Fund under National £ £ Allocated cost of work on which rates are levied— £ £ Development Loans Act, 1941, Section 6 (2) .. 497,990 Rural subdivision .. .. ' 60 000 Less Land for Settlements Account .. .. 530 Town subdivision 8' 200 497,460 "" " " 68 200 Reserve : Repayment of capital costs Excess cost of works not recoverable 164 657 Kaitaia Drainage Area : Town subdivision .. 1,105 Interest Account: Amount chargeable to area Area— £ capitalized to 31st March, 1940 .. .. 168 958 Pukehina Subdivision .. .. 787 333 qtk Kaikokopu Subdivision .. .. 1,181 Waihi Drainage Area—t-. , . ' 1,968 Allocated cost of work on which rates are levied— Poukawa Drainage Area .. .. .. 2,512 > Pukehina Subdivision .. .. .. 5,000 5,58- Kaikokopu Subdivision .. .. .. 7'500 Rate Accounts Central Subdivision .. .. .. 46'045 Special Rate Accounts : Capital— ' ' ' Kaitaia Drainage Area-- Excess cost of works not recoverable .. .. 28 584 Rural subdivision .. .. .. 6,495 Interest Account: Amount chargeable to area 1 own subdivision . . .. .. 373 capitalized to 31st March, 1940 .. .. 48,576 6,868 77 jgQ Waihi Drainage Area— Poukawa Drainage Area— Kaikokopu Subdivision .. .. 593 Drainage works .. .. .. .. 17 494 Pukehina Subdivision .. .. 955 Interest Account : Amount chargeable to area .. 1'234 !> 548 TT ., 18,728 Poukawa Drainage Area .. .. .. 1,023 Hikurangi Drainage Area— J 9439 Drainage works .. .. .. ..260,124 General Rate Agcounts : Maintenance ' , Less amount written off .. .. . ! 184,389 Kaitaia Drainage Area— Rural subdivision .. .. .. 3,469 Interest Account: Amount chargeable to area 1 own subdivision .. .. .. 449 capitalized to 31st March, 1940 .. .. 163,068 3,918 — -J 238,803 Waihi Drainage Area— Mangawai Drainage Area— Pukehina Subdivision .. . 1,004 Drainage works .. .. .. .. 1,878 Central Subdivision .. . . 563 Interest Account : Amount chargeable to works to Kaikokopu Subdivision .. .. 656 31st March, 1939 .. .. .. .. 1,606 2 223 Poukawa Drainage Area Less amount written off .. . 3^84 7,231 " J

78

B—l [Pt. IV]

Sundry creditors— , Hari Hari Drainage AreaDepartmental .. .. .. .. 26 Drainage works .. .. .. .. 4,355 General .. .. .. .. .. 153 Interest Account: Amount chargeable to area 179 capitalized to 31st March, 1940 .. .. 3,429 ■ - Payments in advance : Rates .. .. .. .. 394 j 734. Building Suspense .. .. .. .. . . 48 Unpaid purchase-money on land sold on deferred payment .. 649 Drainage Works Suspense .. .. .. .. 649 Buildings .. .. .. .. .. .. 542 Plant Working Account .. .. .. .. .. 1,093 Buildings : Loading .. .. 1" " 48 Writing-off in Suspense .. .. .. .. .. 959 Plant and machinery .. .. . .. .. 14,029 Treasury Adjustment Account .. .. .. .. 388,199 Loose tools .. .. .. .. .. .. 79 Stores on hand .. .. .. ... .. .. 827 Sundry debtors for rates:— .. . Capital. Maintenance. Drainage Area. £ £ Kaitaia .. .. .. .. 2,565 1,279 3,844 Waihi .. .. .. .. 2,032 1,548 3,580 Poukawa .. .. 4,332 1,143 5,475 Sundry debtors : Rent under section 4 (2), Swamp Land Drainage * Amendment Act, 1926 .. .. .. 12 Law-costs .. .. .. .. .. 56 Departmental.. .. .. .. .. 1,669 1,737 Revenue Account— Waihi Drainage Area: Central Subdivision 27,137 General Revenue Account .. .. .. .. 34,947 Suspense Account— Capital rates remitted : Kaitaia Drainage Area ... .. .. .. .. .. 14,202 Losses in Suspense 1 .. .. .. ' .. .. 959 Cash in transit from post-office .. .. .. .. 346 £911,236 £911,236 Note.—Up to 31st March, 1940, interest on the recoverable expenditure was charged against the Rate Accounts and interest on the balance of the expenditure was capitalized, but, in terms of Treasury Instructions No. 81, Treasury agreed that thereafter interest on irrecoverable . expenditure need not be brought into the accounts. D. M. Greig, Director-General of Lands. Y. J. H. Pledger, A.R.A.N.Z., Chief Accountant. I hereby certify that the Rate Accounts and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the departmental note enfaced thereon and to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return B-l [Pt. IV].— J. P. Rutherford, Controller and Auditor-General.

79

B—l [Pt. IV]

TARANAKI MAORI TRUST BOARD Statement of Receipts and Payments for the Year Ended 31st March, 1948 Balance as at Ist April, 1947— ecei P ts Payments In bank . a La £ Marae- £ War loans and National Savings " " " fcjg " «g Compensation grant. ~ »" » Interest .. .. ' "'• '" 176 Education grant .. .. .. ~ " it?. Mortgage .. """ " ' • 246 Committee grants .. .. ~ " " ■, 9nn Contributions .. " " " Administration of Board .. .. .. " 'koo 143 Office renovation .. .. .. _ _ " " Credit balance— War loans : Government stock .. .. .. 3 000 National Savings .. .. [ [ " 3*247 In bank .. ~ .. _ 9',080 __ 15,327 £18,901 7 ==4= £18,901 Statement of Income and Expenditure for the Year Ended 31st March 1948 , r Expenditure Ivlarae— , Income £ Renovation grants .. 7, aa Compensation grant .. .. 5 000 Miscellaneous grants 2 Interest District Committee grants .. .. "" " i fnn 5*""•••• •• .. 202 Education grant " " " ' Excess of expenditure over income .... 00 Special grants J5O 4 Health grant .. .. .. " " •' Rehabilitation grant .. .. "" " 1 son Administration of Board .. ." 568 £5,337 £5,337

80

B—l [Pt. IV]

Balance-sheet as at 31st March, 1948 Liabilities Assets Marae— £ £ Land and buildings— £ £ Renovation grants .. .. .. .. .. 5,790 Balance as at Ist April, 1947 .. .. . 1,026 Miscellaneous grants .. .. .. .. .. 429 Less depreciation .. .. .. .. '27 Health grant .. .. .. .. .. .. 510 '' 999 Rehabilitation Reserves Fund .. .. .. .. 6,534 Furniture and fittingsGeneral Reserves Fund .. .. .. .. .. 2,265 Balance as at Ist April, 1947 .. • .. .. 79 Depreciation Reserve Fund .. .. .. .. .. 19 Less depreciation .. .. .. . 4 Sundry creditors .. .. .. .. .... 23 75 Office Renovation Fund .. .. .. .. .. 5 Sundry debtors .. .. .. .. .. .. 233 Appropriation Account— . Office : Payments in advance .. !! !! .! 7 Balance as at Ist April, 1947 .. .. .. 2,241 Loan— Less excess of expenditure over income .. .. 22 Manukerihi Pa : Balance as at Ist April, 1947 .. 1,000 Less repayment of principal .. .. .. 198 2,219 802 Less £ Rehabilitation Reserves investments— Transfer to General Reserve .. .. 265 Government stock .. .. .. .. 1,000 Transfer to Rehabilitation Reserve .. 87 National Savings .. .. . \ , ' 3'246 352 4,246 1,867 General Reserves investments: Government stock .. .. 2,000 Cash balance: In bank .. .. .. .. 9,080 £17,442 £17,442 W. Wakawa, Secretary. The Audit Office, having examined the Balance-sheet and accompanying accounts required by law to be audited, hereby certifies them to be subject to the following exception: At audit no evidence of payment was produced in support of payments totalling £387 16s. 7d. and only the endorsed cheques were produced in support of payments totalling £l2 19s. lid.— J. P. Rutherford, Controller and Auditor-General.

81

B—l [Pt. W]

TEACHERS' SUPERANNUATION FUND Revenue Account for the Period Ist February, 1945, to 31st March, 1948 ' £ £ Cv Balance at Ist February, 1945 879,994 Retiring and other allowances 1451*345 Ord^rv" 8 ° mem erS ___ War bonus to re-employed annuitants under, section 66, Finance Ordinary 737,048 Act (No. 2), 1945 4444 Serving with H.M. Forces 45,839 Contributions refunded- £ " ' a 782,887 On voluntary retirement .. .. T72 309 Additional contributions- On death of member " 29 342 From Government of Fiji 2,118 On lapse of membership .. .. !. 15 874 From N.Z.E. Institute .. .. .. 22 Under section 16, Superannuation Amendment Act, Transfers from other funds .. .. .. .. 9'275 1948 """ " " 9,114 oo fi «o Q (No . 2) , IM2 .. 229>500 tirsssr" Ad ~ Under section 112, Public Service Superannuation Transfer to other funds . . .. a Act, 1927 .. .. .. .. 136,167 Administration expenses— £," a T ™° n ' SSerV e Su P erannuation Post and Telegraph Commission .. . . 2 689 Act, 1927 .. . ~ 40,749 Public Trust Commission .. .. 3176 On account of reduction of interest under the Clerical assistance .. " 3 050 National Expenditure Adjustment Act, 1932, Postages &c. "" " 000 a i^+ rC^' • " •" " 5,614 Office expenses .. .. 601 Additional, to meet cash deficiencies .. .. 581,200 Travelling-expenses .. .. .. 238 T 993,230 Medical fees .. iak Interest- Audit fees .. .. !. " " {g? On investments _ ..119,572 War-damage insurance 174 .On contributions m arrears 3,567 Actuarial fee .. .. " .95 1 1Q ggg t,! . 123,139 Balance at 31st March, 1948 .. 1 089 237 Plus investments written up (proportion of • .. .. i,uo discount on purchase of investments) .. 2,224 125,363 Less investments written down (proportion of premium on purchase of investments) .. 1,528 123,835 , £2,791,361 | £2,791,361

82

B—l [Pt. IV]

Cost-of-living Bonus Paid to Annuitants for Period Ist February, 1945, to 31st March, 1948 Dr. £ ' Gr. £ Refund from Consolidated Fund .. .. .. .. 124,112 Balance due from Consolidated Fund at 31st January, 1945.. 2,367 Balance due by Consolidated Fund at 31st March, 1948 .. 6,487 Payment of bonus .. .. .. .. • • 128,232 £130,599 £130,599

83

B—l [Pt. IV]

TEACHERS' SUPERANNUATION FUND— continued Balance-sheet as at 31st March, 1948 Liabilities £ . . Fund Account as per Revenue Account . 1 nsq <m Amm.r,* hj i> b w m , Assets Retiring and other allowances due and unpaid " ' d'li I A ™ount held by Public Trustee— £ £ Refunds of contributions due and unpaid ." ' 92 q specific investments .. .. 943,942 Administration expenses due and unpaid " 70Q Uninvested .. ~ .. _ 16,269 Unclaimed contributions, &c. " " q one t> •■i , „ 960,211 Amounts paid into Fund in error.. " " " '2S Pr ® m | um P 7P^ chase of investmentsDiscount on investments— n" 360 Balance at Ist February, 1945 . . .. 2,379 Balance at Ist February, 1945 .. .. 3479 -purchased .. .. .. _ 1,393 Purchased .. .. " " ' KKO 5 t 3,772 .Less amount written off 1 wa 4 031 ' * I ' oiSo Less amount Written off .. v'ovj. a™ , ~ , J , .. 2,244 ' i Amounts paid to protect securities: Recoverable .. .. 32 - 1,807 Mortgage in possession accounts : Outgoings recoverable .. .. .. g Contributions of members— In transit .. ' 2 ,516 Due and outstanding : (a) Ordinary contributors .. .. .. 21 364 (b) By Government on account of contributors . who served with the Forces .. .. 45,839 . 0Q Interest on investments— ' Due and outstanding .. .. ~ 41g Accrued but not due .. .. .. 8 734 Interest on contributions in arrears: Due by contri- • butors and outstanding .. .. .. 1311 Subsidy from— '' '' ' Fijian Government: Accrued .. .. .. 344 N.Z.E. Institute : Accrued .. .. ~ 3 Due by Consolidated Fund for cost-of-living bonus .. 6 487 Cash at Post Office .. .. .. 55'117 Government subsidy : Additional subsidy under section 114, Public Service Superannuation Act, 1927, on allowances unpaid at 31st March, 1948 .. .. .. j 52 3 £1,106,149 £1,106,149

84

B—l [Ft. IV]

Notes.—The liability under section 9 (2) of the National Expenditure Adjustment Act, 1932, as amended by section 25 of the Finance Act (No. 2), 1932—33, in respect to the rebate to those contributors who did not elect to contribute on the higher rate of salary before the reductions in 1932 has not been taken into account in the foregoing statement. The contingent liability in this respect is estimated at £1,641. The Teachers' Superannuation Eund was absorbed by the Government Superannuation Eund as at Ist April, 1948, in terms of the Superannuation Act, 1947. I. L. Gormack, A.R.A.N.Z., Acting-Secretary, Teachers' Superannuation Board. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the departmental notes enfaced thereon.—C. J. M. Gair, Deputy Controller and Auditor- General.

85

B—l ,[Pt. IV]

DEPARTMENT OF TOURIST AND HEALTH RESORTS Income and Expenditure Account, Year Ended 31st March, 1948 Expenditure Income Net loss after charging interest and portion of Head Office Net profit after charging interest and portion of Head Office administration expenses- administration expenses- £ , £ Rotorua electric .... 1 398 JLeAroha 6,566 Tokaanu Hotel .. .. " " o' fi Rotorua Baths 15,732 Franz Josef Glacier Hotel 1" ' 80 Rotorua Gardens™™ """ " " 10'942 Balance (being excess expenditure over income) .. .. 213,651 Rotorua water and drainage .. .. .. .. 3,239 Rotorua reserves .. .. .. . . 5 063 Rotorua wharves and beacons .. .. .. .. 584 Waimangu Round Trip .. . . .. ~ .. 3,037 Hotel Waitomo and Caves .. .. .. 4 508 Wairakei Hotel .. .. .. .. .. .. 12 767 Chateau Tongariro .. .. .. .. 26 047 Lake House, Waikaremoana .. .. .. .. 1 558 Morere Hot Springs .. .. .. .. .. '077 Franz Josef Farm .. .. .. ~ ~ 81 Hermitage Hotel .. .. . . .. 9 520 Te Anau Hotel .. .. .. .. .. 2 695 Queenstown .. .. .. .. .. .. 2' 097 Milford Hotel .. .. .. .. ~ 3' 773 Milford Track, Cascade Creek Camp, Te Anau steamer .. 4,985 Miscellaneous reserves and Little Barrier .. .. ..1,517 - Publicity Branch .. . .. . 18'034 Passenger Booking Branch .. .. .. .. 10^346 Sydney Office .. .. .. .. .. .. 5^723 Melbourne Office .. .. .. .. 4 481 London Office .. .. .. .. ' 1' 954 Expenses minor agencies overseas .. .. .. 213 Subsidies to inland mail-services .. .. .. . . 824 Loss on realization of Rotorua water and drainage system .. 53,141 Miscellaneous expenditure not apportioned .. .. . . 1 5 543 Interest on National Development Account .. . . 1 f 775 £217 ' 385 £217,385

86

B—l IPt. IV]

PASSENGER BOOKING BRANCH Working Account for the Year Ended 31st March, 1948 Dr. Cr. £ Net loss— £ Commission on Government tour orders: Head Office portion .. 203 Rotorua Bureau .. .. .. .. .. 574 Miscellaneous receipts .. .. .. •• •• 2,118 Wellington .. .. .. .. .. .. 1,805 Net profit: Auckland Bureau .. .. .. .. 1,570 Christchurch .. .. .. .. .. .. 3,573 Net loss to Income and Expenditure Account .. .. 10,346 Dunedin .. .. .. .. .. .. 866 Invercargill .. .. .. .. .. .. 872 Miscellaneous expenses .. .. .. .. .. 1,307 Head Office expenses .. .. .. .. .. 5,240 £14,237 £14,237 . Treasury Adjustment Account for Year Ended 31st March, 1948 Dr. £ Cr. £ Revenue— Expenditure— Tourist and Health Resorts Control Act, and general .. 243,828 Consolidated Fund .. .. .. .. 446,421 Health Department: Ledger accounts transferred .. 16,105 Public Works Fund .. .. .. .. 48,000 Internal Affairs Department: Services, Auckland Bureau .. 100 Public Works Department: Rent, Invercargill Office .. 70 Customs Department: Services, Sydney Office .. .. 40 Treasury— , , Interest, Rotorua Golf Club .. .. .. .. 44 Films, photographs .. .. .. .. 228 Balance carried down .. .. .. .. .. 234,146 £494,491 £494,491 £ ~£ Income and Expenditure Account .. .. .. 107,061 Balance brought forward .. .. .. .. 139,256 Balance carried forward.. .. .. .. .. 298,678 1 Balance brought down .. .. .. .. .. 234,146 Interest on capital, 1947-48 .. .. .. .. 27,615 Capital Account: Decrease in fixed assets, 1947-48 .. 4,722 £405,739 £405,739

87

B—l [Pt. IV]

DEPARTMENT OF TOURIST AND HEALTH RESORTS— Balance-sheet as at 31st March, 1948 Liabilities ' Capital— £ „ t •, Assets £ Consolidated Fund .. .. . 4. ha. " " •• •• •• •• 207,265 Public Works Fund .. . . 818,' 690 fw ngS •' •• - 288^689 Unemployment Fund 331 Motor-vehicles *" " Creditors— 823,135 Live-stock .. .. .. .. " J'JJf SuSv mental 17 ' 985 SSSl andfittUlgS •' •• " - , " 34 ' 2 30 •• 38,093 Departmental .. .. t< oi fi2 i Passenger booking— 56,078 Sundry .. .. _ 6,'997 Ticket Sales Account .. .. 10Q 091 xxt a i i • 38,618 Deposits on Tours Account .. " 20 lOfi Water and drainage systems 17 543 ' " ion io7 Ro . torua electric system : Land, transmission line, buildings, Reserve for doubtful debts .. .. 'J p,® 0 / , •; •• •• •• •• .. 136,690 Writing-off Reserve .. .. ut o*7 S? machinery .. .. .. .. _ 11,808 Reserve for deposits at Rotorua .. .. " " Hoi Wharves and slipways Treasury Adjustment Account .. " oqo 'O7O system at hotels .. .. • 32,756 Steamer, launches, and boats .. 7^, Bridges .. .. .. . " " Garden implements .. .. .. " 1 702 National Development Account .. .. .. '' 52 179 Linen, crockery, cutlery, silverware, &c. .. . 9^'sqe Telephone lines .. .. *' , " 1032 Assets in Suspense .. .. " " 54'^7 Cash in hands of receivers .. .. .. '' oq ' 04^ Rotorua Borough Council loan .. .. " 97'iQi Advance: Rotorua Golf Club .. .. " fIX Cash on deposit, Rotorua Office .. .. .. i a i Cash on deposit at bank .. .. ' " 18 Receiver-General's Deposit Account .. .. [ 60'040 Remittances in transit, and outstanding balances at Tourist Bureaux 39,170

88

B—l [Ft. IV]

Income and Expenditure Account: Excess expenditure over income .. .. .. .. .. .. 213,651 £1,363,199 £1,363,199 L. J. Schmitt, General Manager, Department of Tourist and Health Resorts. E. Groom, Chief Accountant, Department of Tourist and Health Resorts. I hereby certify that the Income and Expenditure Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return B-l [Pt. IYI.— J. P. Rutherford, Deputy Controller and Auditor-General.

89

B-pl! [PT. IV]

TUWHARETOA TRUST BOARD Statement op Receipts and Payments por the Year Ended 31st March, 1948 Receipts Payments £ Balance, 31st March, 1947— Grants .. .. .. .. .. .. .. 3 379 New Zealand Government— £ £ Members .. .. .. .. .. .. .. '97 Liberty Bonds .. .. .. .. .. 250 Office expenses .. .. .. .. .. .. 182 Victory Bonds .. .. .. .. .. 100 Petty cash expended .. .. .. .. 15 National Savings .. .. .. .. .. 1,049 Sundry unclassified expenses .. .. .. .. .. 40 Bank of New Zealand .. .. .. .. 336 Advances .. .. .. .. .. .. .. 12 1,735 Balance, 31st March, 1948— Grant from New Zealand Government .. .. .. .. 3,000 New Zealand Government— £ Interest, National Savings .. .. .. .. .. 31 Liberty Bonds . . .. .. .. .. 250 Refunds against advances .. .. . . .. .. 224 Victory Bonds .. .. . . .. .. 100 Excess licences .. .. .. .. .. .. 395 National Savings .. .. .. .. .. 1,081 Office rent .. .. .. . . .. .. .. 4 Bank of New Zealand .. .. .. .. 677 Refunds— 2 108 Grants .. .. . . . . .. .... 26 Taupo claims : Damages .. . . .. .. .. 418 £5,833 £5,833 Statement op Revenue and Expenditure por the Year Ended 31st March, 1948 Expenditure £ Revenue £ Grants .. .. .. .. .. .. .. 3,353 Grant, New Zealand Government .. .. .. .. 3,000 Members .. .. • • ........ • • ~ .97 Excess licences .. .. .. .. 395 Office expenses .. .. ' .. .. .. .. 178 Interest— Petty cash expenses ... .. .. ... .. 15 National Savings ; 1 ..' .. 11 .. .. - .. 31 Sundry unclassified expenses .. .. .. .. 40 . Loan accounts . .. .. .. .. .. .. 81 Surplus for year .. .. .. .. ~ .. 242 Refund, Lake Taupo compensation claims . .. .. .. 418 £3,925 £3,925 £ ' £ Balance .. .. .. .. .. .. .. 7,284 Balance, brought forward .. .. .. .. .. 7,042 Surplus, 1948 . .. .. .. .. 242 ' £7,284 : _ £7,284'

90

B—l [Pt, IV!

Balance-sheet as at 31st March, 1948 Liabilities £ Assets Reserve for depreciation .. .. .. .. .. 59 Office— £ £ Sundry creditors .. .. .. .. .. .. 38 Eurniture .. .. .. .. .. 42 Balance, Income and Expenditure Account .. .. .. 7,284 Appliances .. .. .. .. .. 17 59 Tongariro Timber Owners Claim Account .. .. ... 2 , 000 Ngati-Tuwharetoa compensation claim : Principal .. .. 1,100 Barclay, G. .. .. .. .. .. ... 4 Sundry debtors for advances .. .. .. .. .. 2,110 1 National Savings .. .. .. .. .. .. 1,081 Liberty Bonds .. .. .. .. .. .. 250 Victory Bonds .. .. .. .. .. .. 100 • Bank of New Zealand .. .. .. .. .. 677 £7,3.81 £7,381 Werihe Te Tuirp, Chairman. P. Alfred Grace, Secretary. The Audit Office, having examined the Balance-sheet and accompanying accounts, required by law to be audited, hereby certifies them to be correct.— J. V. Kutherford, Controller and Auditor-General.

91

B—l [Pt. IV]

WESTPORT HARBOUR ACCOUNT Income and Expenditure Account for the Year Ended 31st March, 1948 , . Expenditure s Dredging.. .. _ akqro o • , , Income £ Harbour maintenance .. .. " " ecial c °al rate .. .. t . _ 19 094 Working-expenses of launch .. 18 '?2 Endowment revenue " Office administration (local) .. " " 9 Port dues .. .. _ 2 ' Endowments: Administration expenses .. " 'SJS £?« nf ? * lo'lB6 Compensation for accidents.. .. .. .. " Sale of stores, &c. Payments to Post and Telegraph Department . iqe • "t " " " •• 73 Motor-vehicles: Maintenance " i?o F, of transmission lmes .. .. .. * Travelling-expenses .. . j " " " {J} Sale of electric power .. .. _ " Compassionate grant " " 000 ess expenditure over income .. . 9A 000 Head Office administration " ,fl" " ' Depreciation— " £ " Buildings .. .. .. 141 Dredges, wharves, &c. .. .. . ] " 2,487 Interest on loans .. .. .. . / 6*288 £73,566 - £73,566 Receipts and Payments Account foe the Yeae Ended 31st Maech, 1948 . Receipts e Marine revenue: Westport Harbour receipts . . . . 39 744 Wo , , w , Payments £ Final charges adjustment .. " 3of Westport Harbour payments .. .. o, Qw General .. .. .. ;; " " 58 { Final charges adjustments .. .. .. .' 531 Balance carried down .. .. ] _ [' 42 210 £82,536 ' £82,536

92

B—l [Pt. IV]

Treasury Adjustment Account Dr. £ Or. £ Balance carried down' .. .. .. .. .. 43,710 Balance brought down .. .. .. .. .. 42,210 Administration charge, Head Office.. .. .. .. 1,500 £43,710 £43,710 £ £ Balance 31st March, 1948 .. .. .. .. .. 298,865 Balance brought down .. .. .. .. .. 43,710 Balance, Ist April, 1947 .. .. .. .. ..248,867 Interest on capital .. .. .. .. .. 6,288 £298,865 _ £298,865

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B- I [Pt. IV]

WESTPORT HARBOUR ACCOUNT— continued Balance-sheet as at 31st March, 1948 n Liabilities Assets Creditors £ £ £ Debtors— £ £ £ Departmental 802 Accrued revenue 203 Sundr y 5,133 Departmental 1,287 „ ~ . 5,935 Sundry .. .. .. 11'346 Revenue paid m advance 26 • 00f , t • i,M 0 + ta l 0f n I ! a s il | tieS 1 5 > 961 Stock and stores at cost 12 565 Liability to Consolidated Fund- Total of current assets ! ' 25 401 Finance Act, 1926, section 22 .. .. ..64,783 Fixed assets at cost, less depreciation— Fmance Act p 32 section 16 92,422 Breakwaters .. 344333 Total fixed-term liabilities 157,205 Training-walls 102'998 Endowment capital .. .. .. 59,132 Protective works and relief channels .. .. 17'384 General Reserve as at 31st March, 1947 .. . . 132, 374 Martins Land Account .. .. 700 Less excess expenditure over income for 1946-47 .. 49,819 Limestone-quarry .. .. .. 128 m . .. , , 82,555 Harbour buildings .. .. . 94.4. Treasury Adjustment Account 298,865 Cape Foulwind Railway " 8 251 Writmg-off Reserve Account .. n Dredge Wharf .. 279 Contingency: Sale of unleased land* .. .. 650 Dredges, tug, plant, launch, and truck !! !! 1^099 Office furniture, fittings, and mechanical appliances .. 10 Total of fixed assets ... .. ... .. 493 130 . Endowment lands— r ■ Leased •• •• .. .. .. 36,985 Unleased .. .. .. .. .. 22 147 59,132 Deferred expenditure : Harbour lights .. ..' 706 706 Writing-off Suspense Account .. .. .. H Suspense Account . . .. .. .. , # 10 Excess of expenditure over income .. .. .. .. 25 333 £603,729 £603,729 * Advice received that this £650 will be received during the year 1948-49. W. C. Smith, Secretary. J, Southward, Assistant Accountant,

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I hereby certify that the Income and Expenditure Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return B-l [Pt. IVl.— J. P. Rutherford, Controller and Auditor-General.

B—l [Pt. IV]

Approximate Cost of Paper.—Preparation, not given; printing (743 copies), £175. By Authority: E. E. Owen, Government Printer, Wellington— 1949. Price Is. 9d .]

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