8.—6
VIII
COMPARISON OF THE GENERAL FINANCIAL POSITION On the 80th June, 1912, 31st March, 1913, and on the 30th June, 1913. It will be seen from the following summary that a marked improvement took place during the nine months ended the 31st March, 1913, and during the year ended 30th June, 1913 : — Comparative Statement of Balances in the Consolidated, Public Works, and other Funds, also State Advances Office, together with Loan-money to receive, less Liabilities, as at the 30th June, 1912, 31st March, 1913, and 30th June, 1913. As at 30th June, 1912. £ £ Balance ■••• •••■ •••• 1,864,841* Loan-money to receive .... .... ■••■ 724,053 2,588,894 Liabilities — General services .... .... ■■■■ •■•• 2,518,61 Jf State-guaranteed advances commitments .... 950,173 3,468,790 Deficit : £879,896 * Does not include £1,013,200 to pay off advances received for redemption of debentures. Includes £171,000 imprested to High Commissioner to make progress-payments on account of H.M.S. "New Zealand." t Includes some liabilities (as, for instance, £334,520 on account Midland Railway Contract) which did not require to be met during the year. N.B.— Unexhausted authorities to borrow amounted to £4,053,823. As at 31st March, 1913. & £ Balance 1,875,249* Loan-money to receive .... .... .... •••• 1,825,873f 3,701,122 Liabilities — General services .... .... .... •••• 1,239,597} State-guaranteed advances commitments .... 662,014 1,901,611 £1,799,511 * Does not include £249,776 held for redemption of debentures due 15th April, 1913. Includes £47,000 imprested to High Commissioner to make final payments on account of H.M.S. "New Zealand." \ Does not include £50,000 raised for redemption of debentures due Ist April, 1913. I Does not include liabilities amounting to £325,870 in connection with Midland Railway Contract which were included as at 30th June, 1912, and were subsequently written off. N.B. —Unexhausted authorities to borrow amounted to £4,112,970. As at 30th June, 1913. £ £ Balance 2,580,865 Loan-money to receive .... .... .... .... 1,060,474 3,641,339 Liabilities — General services .... .... .... .... 2,063,855 State-guaranteed advances commitments .... 544,329 2,608,184 £1,033,155 To compare the liabilities of the different periods it is only fair to reduce the £2 518,617 general-services liabilities as at 30th June, 1912, by £325,870, which 'represents Midland Eailway Contract commitments written off during the year. The net liabilities as at 30th June, 1912, should therefore, for the purposes of comparison, be taken at £3,142,920, as against £1,901,611 as at the 31st March, 1913, and £2,608,184 as at 30th June, 1913.