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The amounts shown in the lists attached to the balance-sheets are those actually disbursed during the year, and do not represent the total annual allowances granted by the Board to the 31st March, 1916, which were, — „ . Life allowances on account of voluntary retirements (1,057 persons) ... ... ... ... ... ... 87,389 5 7 Life allowances on account of retirements as " medically unfit" (196 persons) ... ' ... ... ... ... 12,551 16 6 Allowances to 281 widows and 529 children ... ... ... 11,954 16 9 Total annual allowances granted ... ...£111,895 18 10 Since the inauguration of the Fund, 312 beneficiaries have, however, died, and 8 members who had been placed on the Fund as " medically unfit " resumed duty. The Fund was relieved of an annual liability of £21,087 17s. 2d. in respect to these 320 members ; 247 children have reached the age of fourteen years, 6 children have died, 44 widows remarried, and 20 widows died, and 1 widow refused allowance; lessening the liability of the Fund by an additional £4,468 9s. 9d. per annum. There were 1,434 persons actually on the Fund at the 3.lst March, 1916, involving an annual liability of £86,339 lis. lid. W. H. Hbkeies, Minister of Eailways, Chairman of the Government Eailways Superannuation Fund Board Revenue Account op the Government Railways Superannuation Fund under Section 90 op the Government Railways Act, 1908, for the Year ended 31st March, 1916. Dr. £ a. d. Cr. £ s. d. To Balance brought forward on Ist April, By Retiring allowances to— 1915 .. .. .. .. 340,155 18 2 Members .. .. .. 76,208 17 7 Members'contributions .. .. 78,369 3 1 Widows and Children .. .. 7,494 11 7 Members'contributions on account of Payments under Section 86 (c) .. 239 19 7 casual service .. .. .. 34 0 7 Payments under Section 82 (3) .. 1,007 16 4 Fines .. .. .. .. 509 10 0 Contributions refunded .. .. 16,650 410 Government contributions .. 25,000 0 0 Fines refunded .. '.. .. 10 15 0 Interest received .. .. .. 14,993 6 4 1 Travelling - expenses of members of Board .. .. .. .. 36 3 0 Contributions transferred to Publio Service Superannuation Fund .. 280 10 1 Publio Trust Office charges .. 262 10 0 Amount of Fund at close of year .. 302,810 4 2 £465,061 18 2 | £165,061 18 2 Balance-sheet of the Government Railways Superannuation Fund under Section 90 of the Government Railways Act, 1908, for the Year ended 31st March, 1916. Liabilities. Assets, Dr. £ s. d. Gr. £ a , d. Fund as per Revenuo Account above .. 362,810 4 2 In hands of Publio Trustee .. .. 354,350 2 7 • Life allowances not paid .. .. 674 14 7 , Contributions and fines in transit .. 6,092 6 8 Widows'allowances not paid.. .. 446 7 B'< Arrears of contributions due by members Contributions due to be refunded not in respect to casual service .. 3,958 6 7 paid .. .. .. .. 469 9 5 £364,400 15 10 £364,400 15 10 W. H. Herries, Chairman of the Government Railways J, Macdonald, Superannuation Fund Board, Chief Accountant, New Zealand Railways. ,—» Examined and found correct.—Robert J. Collins, 18th May, 1916. Controller and Auditor-General,

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