D.—s

2

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, 1917, which were, — „ ' ' £ a. d. Life allowances on account of voluntary retirements (1,127 persons) ... ... ... ... ... ... 94,610 8 6 Life allowances on account of retirements as " medically unfit" (225 persons) ... ... ... ... ... 15,436 12 3 Allowances to 320 widows and 600 children... ... ... 13,582 10 0 Total annual allowances granted ... ...£123,629 10 9 Since the inauguration of the Fund 358 beneficiaries have, however, died, and 9 members who had been placed on the Fund as " medically unfit" resumed duty. The Fund was relieved of an annual liability of £24,613 2s. 6d. in respect to these 367 members ; 290 children have reached the age of fourteen years, 8 children have died, 47 widows remarried, 23 widows died, and 1 widow refused allowance; lessening the liability of the Fund by an additional £5,163 3s. 6d. per annum. There were 1,536 persons actually on the Fund at the 31st March, 1917, involving an annual liability of £93,853 4s. 9d. W. H. Heebies, Minister of Railways, Chairman of the Government Railways Superannuation Fund Board.

Revenue Account op the Govebnment Railways Supeeannuation Fund under Section 90 of the Govebnment Railways Act, 1908, foe the Yeab ended 31st Maech, 1917. Dr. £ s. d. Or. £ s. d. To Balanoe brought forward on Ist April, By Retiring-allowanoes to — 1916 .. .. .. .. 362,810 4 2 Members .. .. .. 81,897 6 0 Members'contributions .. .. 81,772 15 0 Widows and children .. .. 7,961 9 2 Members' contributions on account of Payments under section 86 (c) .. 364 11 2 casual service .. .. .. 1,210 12 5 Payments under section 82 (6) .. 323 3 7 Pines .. .. .. .. 350 0 0 Contributions refunded .. .. 19,582 10 7 Government contribution .. .. 25,000 0 0 Pines refunded ... .. .. 1 15 0 Interest received (with bonus) .. 17,080 15 4 Travelling - expenses of members of Donation, H.E. the Governor .. 20 0 0 Board .. .. .. .. 42 3 0 Contributions transferred to Publio Service Superannuation Pund .. 213 6 4 Publio Trust Office oharges .. 273 0 0 Amount of Pund at close of year .. 377,585 2 1 £488,244 6 11 £488,244 6 11

Balance-sheet of the Govebnment Railways Supeeannuation Fund undee Section 90 of the Govebnment Railways Act, 1908, fob the Yeab ended 31st Maech, 1917. Liabilities. Assets. Dr. £ s. d. Or. £ s. d. Pund as per Revenue Acoount above .. 377,585 2 1 In hands of Publio Trußtee .. .. 367,713 19 9 Life allowances not paid .. .. 874 18 11 Contributions and fines in transit .. 6,459 4 0 Widows' allowances not paid.. .. 478 13 8 Arrears of contributions due by members Contributions due to be refunded not in respect to oasual servioe .. 5,168 19 0 paid .. .. .. .. 403 6 1 £379,342 2 9 £379,342 2 9 W. H. Heebies, Chairman of the Government Railways J. Macdonald, Superannuation Fund Board. Chief Accountant, New Zealand Railways. Examined and found correct.—Robebt J. Collins, 13th June, 1917. Controller and Auditor-General.