E. -2.

■ Appkndix A.

XXX

'^Financial. —At the close of another year's administration the Board is gratified to be able to report that its financial position, as compared with preceding years, is quite satisfactory. The Board, it must be remembered, is only an administrative body having no rating-powers, and cannot therefore increase its revenue by extraneous effort. It is in consequence compelled to keep its expenditure within fixed limit:s.|"yrhe general statement of receipts and expenditure (Annual Return No. 3) for the past year has been approved by the Audit Inspector, and a copy thereof forwarded to your Department. This document, studied in conjunction with Returns No. 3b (Details of Expenditure) and 3c (Statement of Money Assets and Liabilities for the Year 1912), reveals approximately the Board's financial position at the close of the year to which this report refers. The credit balance on the 31st December was £5,295 13s. 5d., as against £5,216 lis. for the preceding year. Reference to the statement of assets and liabilities, however, will show that the credit balance is more apparent than real. Your Department last year disallowed a proposed transfer of a sum of £3,345 18s. Bd. from maintenance to PublicSchools Account; but in this year's statement (with the approval of your Department) a portion (£1,278 65.) of the sum disallowed last year appears as a transfer from maintenance (item 25) to public schools (item 28). This latter account still stands in debit to the extent of £2,261 ss. sd. Sums due for works completed after the close of the year will, however, considerably reduce this liability. In conclusion, the Board desires to express its appreciation of the assistance received from School Committees throughout the district in the administration of the Act and regulations under which the work of education is carried on ; as also of the courtesy and consideration shown by the officers of the central Department in all matters affecting the interests of the district under the Board's jurisdiction. John Fisher. Chairman. The Hon. the Minister of Education. Wellington. John Nkill, Secretary.