55

E.—l

In terms of the provisions of the Public Service Classification and Superannuation Amendment Act, 1908, section 4, and the regulations thereunder, all moneys belonging to the fund are paid to the Public Trustee for investment, and form part of the common fund of the Public Trust Office. In accordance with the regulations under the Public Trust Office Act interest is paid to the fund on daily balances in the hands of the Public Trustee- —4J per cent, on the first £6,000 and 4j per cent, on the balance. No charge is made for investment. It has been suggested that better terms should be obtained; or, failing this, that, as in the case of the Public Service Superannuation Fund, legislative authority be obtained to enable the Superannuation Board to make its own investments. The matter is receiving careful consideration. On arrears outstanding from contributors 5 per cent, interest is charged. Provision has been made for the payment by the Government of the contributions of contributors to the fund who have enlisted with the Expeditionary Forces engaged in the war, until the release of the contributors from military duties. The amount paid by the Government on this account in 1915 was £1,351. The number of contributors who had joined the Expeditionary Force up to the 31st December, 1915, was 183, of whom twenty have been killed in action or died of wounds, and two have returned to New Zealand and have resumed their duties in the Education service. The triennial investigation of the fund, as provided for under the Public Service Classification and Superannuation Amendment Act, 1908, section 38, was made by the Actuary appointed by the Governor for the purpose; and in his report, which was laid before Parliament during last session, he recommends that the annual subsidy to the fund be increased from £17,000 to £33,000. In view, however, of the special circumstances at present existing it was decided, as in the case of other superannuation funds, that the former rate of subsidy be continued. Tables relating to Cost op Education and Number of Peesons eeceiving Instruction. In the following tables, A, B, C, D, E, and F, an attempt is made to analyse the public expenditure on the various branches of education, and to show under what heads the increase of expenditure in recent years has taken place ; to give the expenditure per head of the population and per head of the roll of schools; and to present a comparative statement of the increase in the number of persons under instruction. Tables A and B give an analysis of the expenditure for the years 1914-15 and 1915-16 respectively.

Table A.—Analysis of Expenditure on Education in New Zealand for the Year 1914-15.

(Figures given in every cajC to tho i C Branch of Education. + Maintenance. 16 nearest £1,001 »•) Dill t of Publio Fui nds. t New Buildings and Additions. Total. Out of Income from Heserves. Total for all Items from all Public Sources. A. (1.) Primary (including Native schools, physical train- ' 985,000 ing, and training colleges) (2.) Secondary (including secondary schools, technical 114,000 high schools, and secondary departments of district high schools) (3.) Continuation and technical .. .. .. j 33,000 (4.) Higher (including university and higher technical) 40,000 £ 1185,000 £ 80,000 £ 1,071,000 £ 113,000 £ I,184,000.t 114,000 6,000 120,000 55,000 175,000 33,000 40,000 20.000 7,000 53,000 47,000 8,000 29,000 61,000 76,000 Totals A (1-4) .. .. .. 1,172,000 1,172,000 119,000 1,291,000 205,000 1,496,000 B. Industrial schools .. .. .. .. 46,000 0. Special schools (Doaf and Blind, and Home for Backward , 7.000 Children) I). Superannuation and miscellaneous .. .. .. 29,000 Totals A, B, C, D .. .. ..1,254,000 3.000 2.000 49,000 9,000 29,000 2,000 1,000 51,000 10,000 29,000 124,000 1,378,000 208,000§ 1,586,000 * Expended out of Consolidated Fund. f Expended out of 1 ind allowances, £796,000 ; repairs and rebuilding, £91,000 ; new buildin £211,000 : total, £1,184,000. § £75,000 from National Endowment Public Worl lgs and addi t Roserves '. les Fund, itiona, £86,' Fund. { Teachi 100 j all othe 3rs' salaries )r expenses,