STATEMENT OF THE COLONIAL TREASURER

7

B.—No. 1b

Abstract VI. It will be seen that the balance outstanding on the 30fch June, 1866, £61,140 9s. 10d., has been charged against the Surplus Revenues, and tho amount written off from this Account. The Supplementary Expenditure for the year ending 30th June, 1867, is £10,385 lis. Bd., for which no provision has been made—if the opinion of the Comptroller is maintained that " The Appropriation Act, 1867," merely indemnifies tho Colonial Treasurer for the unauthorized issue of public moneys, without determining against what fund the issue is finally to bo charged. Abstract VII. The Treasury Statement includes a sum of £97,931 2s. 2d. in charge of the Agents in London, but deposited for a few days in a London bank for security and interest. It will be more useful, in an analysis of the financial position of the Treasury, to include this sum among the available balances in the hands of the Agents of the Treasury. (See Statement of Balances, after Abstract IX.) Abstract VIII. Attention is called to the sum of £132,221 7s. Bd. outstanding on account of Miscellaneous Advances. The effect of allowing balances of Advances to be outstanding at the termination of a Financial Year, is to shut out of the Revenue and Loan Accounts a corresponding amount of disbursements, and necessarily, so far, to mask the Government Expenditure. The accumulation of balances ought to be prevented in future by the operations of " The Public Revenues Act, 1867." The Legislature has provided that balances of Public Moneys in the hands of Sub-Accountants shall be returned to the Treasury on the termination of each Quarter ; and the Regulations issued under the authority of the Public Eevenues Act require Advance Accounts to be furnished monthly, -so that the Treasury may w rrite off the Advance Accounts much earlier than hitherto. The outstanding Advances to Officers of the Government are chargeable, in various sums, on the Ordinary Revenues, the Beserve Fund, and the Three-Million Loan, but principally on the last fund. A large portion of the Advances to Provinces is also chargeable on the Three-Million Loan. The Imperial Government Advance Account shows a balance in favour of the Colony of £282,635 os. lid. The Treasury, in its Accounts, has hitherto admitted only a portion of the claims against the Colony, and has debited the Imperial Treasury with the issue of £500,000 Debentures, leaving the above balance in favour of the Colony. It would show more completely the state of the Three-Million Loan if this balance were treated as a charge on that fund, as the claims between the two Governments have been cancelled Abstract IX. It is difficult, out of the mass of complicated transactions of the Treasury, to explain, within reason- i able limits, the particulars of the " Suspense Accounts." The above Abstract exhibits the balances cleared - of " cross " entries. The Treasury balances are here shown, and will be found also on the last page of the printed Statement. Dr. Balances ... ... ... ... ... £89,830 6 11 £ s. d. 21,531 3 9 37,679 6 7 • 149,010 17 3 Cr. Balances ... ... ... ... ... £94,830 6 11 21,531 3 9 38,512 13 7 46,417 11 9 21,750 0 0 163,457 9 10 386,499 5 10 Difference ... ... ... ... ... £237,458 8 7 Being total Balance of Abstract IX., viz. ... 22,94119 6 100,241 17 10 114,274 11 3 ■ £237,458 8 7 The " Interest and Sinking Fund Suspense Accounts " concern principally the open Remittance Accounts of Banks, Agents, and Trustees. If these temporary accounts were struck out, the Treasurer's balance shown at page 102 of printed Statement would be diminished by an equal amount, and thus the real state of the Treasury cash balance would be exhibited. Collecting together the Debits and Credits of the nine preceding Abstracts, which embrace the whole of the Treasury transactions as exhibited in tho Annual Statement, we hay Issued on account of Unauthorized Services, not yet charged against £ s. d. the Ordinary Revenues (Abstract VI.) ... ... 10,385 11 8 Issued to Provinces in excess of Surplus Revenues not yet charged against the Ordinary Revenues (Abstract V.) ... ... 325,776 12 1 Issued as Advances, but not yet charged against the Ordinary Revenues or any other Fund (Abstract VIII.) : — To Provinces ... ... ... £101,733 4 8 Miscellaneous Advances ... ... 132,222 7 8 British Treasury ... ... ... 282,635 Oil 516,590 13 3 Issued to Native Lands Courts in excess of Receipts (Abstract VII.) 7,594 8 6 Balances—• In hands of Treasurer and Sub-Accountants ... £26,514 6 10 Remittances in transitu ... ... 64,260 12 5 In Banks in deposit (Abstract VII.) ... 97,931 2 2 „ not in deposit ... ... 43,171 810 231,877 10 3 £1,092,224 15 9 The above balances of issues are the results of operations extending over several years. Where public moneys are thrown into a common chest, it cannot be stated out of which particular funds the Colonial Treasurer obtained the means of making the above issues ; but it appears the Treasurer, on the closing of the year's accounts, held the sum of £231,877 10s. 3d. to represent the following balances, amounting to

Supplementary Expenditure.

Miscellaneous Deposits.

Advance Account.

Statement of Balances.