B —6

IV

TREASURY BILLS. During the year Treasury bills to the amount of £775,000 were issued and were repaid. It is satisfactory to note that on the 31st March, 1913, none were outstanding. PUBLIC WORKS FUND. The position of this fund may be shown as follows :— Balance from last year . . .. . • 82,580 Receipts— £ Loan-money .. .. •• 2,505,002 Transfer from revenue .. .. 750,000 Other receipts .. .. .. 119,969 3,374,971 3,457,551 Expenditure — Under appropriations .. .. 2,378,539 Other charges .. .. • • 1,271 Debentures redeemed .. .. 101,000 Repayment of advance obtained in anticipation of £4,500,000 loan of 1911 .. .. .. •• 350,000 2,830,810 Balance at 31st March, 1913 .. 626,741* Balance of loan-money to be received 994,774 Amount available with which to start the current year .. £1,621,515 * includes £249,776 for redemption of debentures due 15tb April, 1913. The following statement indicates the financial position of the Dominion on the 31st March, 1913, as compared with the 31st March, 1912 :— CONSOLIDATED FUND. £ Balance on 31st March, 1912 .. .. .. • • • • 807,276 Liabilities on 31st March 1912 .. .. .. • • • • 293,741 Balance on 31st March, 1913 .. .. • • • • • • 709,508 Liabilities on 31st March, 1913 .. .. .. • • • • 289,123 PUBLIC WORKS FUND. £ £ Balance on 31st March, 1912 .. .. .. • • 82,580 Loan-money, to receive .. .. .. • • 1,050,000 1,132,580 Liabilities on 31st March, 1912 .. .. ... ■• 1,135,812 Balance on 31st March, 1913 .. .. .. • • *376,965 Loan-money, to receive .. .. •. • • 994,774 1,371,739 Liabilities on 31st March, 1913 .. .. • • • • f673,933

* Does not include £249,776 for redemption of debentures, 15th April, 1913. % t Does not include £325,870, liabilities in connection with Midland Railway Contract, which were included in liabilities as at 31st March, 1912, and which were written off during the year.