E.—l

24

The moneys so granted in the year 1915 for the two purposes named are shown in Tables F7 and F8 in E.-2. The total amount expended by Education Boards during the year 1915 on maintenance of buildings, new buildings, sites, furniture, &c, was £183,534, as compared with £218,723 for the previous year. The building programmes of all of the Boards were considerably reduced owing to the circumstances of the war limiting the funds available for this purpose. Table F9 in E.-2 shows the assets and liabilities of the Boards on the combined Buildings Accounts. The following is a summary :— Combined Buildings Account (a) and (6), all Boards, 31st December, 1915. Liabilities. £ Assets. £ Overdrafts .. .. .. 3,391 Cash .. .. .. .. 49,752 Other liabilities .. .. .. 22,057 Due from all sources .. .. 42,204 Balances .. .. .. .. 68,860 Deficits .. .. .. .. 2,352 £94,308 £94,308 Net balances Ist January, 1916.. £66,508 The net balance in the Buildings Account at the close of the year 1914 was £44,518. The above summary indicates that at the end of 1915 it had increased to £66,508. This substantial increase is largely due to the excess of the grants for maintenance and rebuilding over the expenditure ; in the case of eight Boards the income on this account exceeded the expenditure, in three Boards the income and expenditure were equal, and in only two did the latter exceed the former. The position of the account for maintenance and-rebuilding?for alii Boards was as follows : — School Buildings Maintenance Account, all Boards, 31st December, 1915. £ Ledger balances .. .. .. .. .. .. .. 120,091 Net excess of amounts due to Boards over amounts due by Boards .. 3,719 Net balance, 31st December, 1915 .. .. .. .. ..£123,810 It would appear, therefore, that at the Ist January, 1916, £123,810 was available for the purposes of maintenance of school buildings. As however, the actual balance to the credit of the combined Buildings Account was only £46,361, it is clear that the large balance to the credit of the Maintenance Account is only a, paper balance, and that in years past excessive transfers'" have" been ? made from the" Maintenance Account to the New Buildings Account. 3. All Accounts. The bank balances of increased from £50,927 to £76,527. The increase is accounted for to some extent by the fact that the Boards' income from the Government for the maintenance of school buildings and for new buildings was £12,000 greater than the expenditure. Likewise the income for administration purposes was £10,000 greater than the expenditure thereon. With the exception of three or four Boards, the financial position of the individual Boards may be regarded as satisfactory. * Education Resekves. The Education Reserves Amendment Act of 1914 provides for the revenue received from primary-education reserves to be paid by the Receiver of Land Revenue into the Public Account to the credit of a special {deposit account called " The Primary Education Endowments Deposit Account." Previously the moneys were paid to the credit of a separate account for each district. The moneys so received are applied without further appropriation than the Act mentioned towards the payment of amounts charged on. the Consolidated Fund for the purposes of primary education. The revenue from this source during the year 1915-16 was £75,914.