PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1950

Appendix to the Journals of the House of Representatives, 1950 Session I, B-09a

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1950 NEW ZEALAND

PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1950

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

The Audit Office, Wellington, 10th July, 1950. The Right Honourable the Minister of Finance, Wellington. Sir, — PUBLIC TRUST OFFICE Balance-sheet as at 31st March, 1950 I have the honour, in accordance with the provisions of section 27 of the Public Trust Office Amendment Act, 1921-22, to transmit to you the Balance-sheet of the Public Trust Office as at 31st March, 1950, and to advise you that it has been examined and found correct. I have the honour to be, Sir, Your obedient servant, J. P. Rutherford, Controller and Auditor-General,

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PUBLIC TRUST OFFICE Balance-sheet of the Public Trust Office as at 31st March, 1950 Liabilities £ £ I Assets £ £ Amounts held in Common Fund for sundry I Premises, furniture, plant, stationery, &c. . . . , 335, 803 estates and funds .. . . .. 18,752,334 ! Government securities .. .. .. 4,391,110 Amounts held for special investment on behalf j Local bodies'debentures .. .. .. .. 4,782,608 of certain funds but not yet invested .. 69,083 ! Mortgages .. .. .. .. .. 9,183,388 Amounts specially invested on behalf of certain Properties acquired and advances for protection estates and funds .. .. .. 13,299,929 of securities (book value) .. .. .. .. 175,593 32,121,346 Advances (on overdraft) to estates and accounts Sundry creditors .. .. .. 193,129 (book value) .. .. .. .. 423,919 Writings-off Suspense Account .. .. .. 20,835 Interest and rent accrued due and overdue .. 195,339 Reserve in respect of enemy property moneys 42,874 Less provision for losses .. .. .. 9,516 Reserve for losses on mortgages, &c., and in 185,823 respect of advances for protection of securities 99,047 Sundry debtors .. .. .. .. .. 74,887 Reserve for deferred maintenance .. .. 2,745 Assets in Suspense (pending final writing-off) .. .. 20,835 144,666 Cash in hand and on current account in New General Legal Expenses Account .. .. .. 7,635 Zealand and London .. .. .. .. 187,433 Investment Fluctuation Account .. .. .. 175,385 Special investments, and overdue interest thereon, Assurance and Reserve Fund .. .. .. 398,332 held on behalf of certain estates and funds .. .. 13,299,929 £33,061,328 £33,061,328

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Profit and Loss Account for the Year Ended 31st March, 1950 Dr. £ p r ' . KAsf Qoi Salaries and general working-expenses .. .. •• 522,583 Commission and other income (net) Losses on realization of mortgages .. . ■ • • 2,209 Depreciation on Office premises, furniture, &e. .. .. 17,113 Balance, being net profit for year, transferred to Appropriation Account .. .. •• •• •• •• 7 > 016 £548,921. £548,921 Profit and Loss Appropriation Account for the Year Ended 31st March, 1950 Cv Transfer to"Assurance and Reserve Fund £7,016 Profit and Loss Account: Balance transferred .. .. £7,016 H. Pearce, Public Trustee. A. J. Anderson, F.R.A.N.Z., Chief Accountant. I hereby certify that the Balance-sheet and accompanying accounts have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.— J. P. Rutherford, Controller and Auditor-General.

Approximate Cost of Paper.—Preparation, not given ; printing (634 copies), £6.

By Authority: R. E. Owen, Government Printer, Wellington.— 1950.

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