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, 1918, which were, — Life allowances on account of voluntary retirements (1,166 £ s. d. persons) ~. ... ... ... ... ... 99,840 19 0 Life allowances on account of retirements as " medically unfit" (254 persons) ... ... ... ... ... 16,977 13 3 Allowances to 359 widows and 670 children ... ... ... 15,197 2 6 Total annual allowances granted ... ...£132,015 14 9 Since the inauguration of the fund 401 beneficiaries have, however, died, and 11 members who had been placed on the fund as " medically unfit " resumed duty. The fund was relieved of an annual liability of £27,878 13s. lid. in respect to these 412 members; 326 children have reached the age of fourteen years, 8 children have died, 51 widows remarried, 28 widows died, 1 widow refused allowance, and 1 allowance remains unclainifd; lessening the liability of the fund by an additional £5,812 10s. 6d. per annum. There were 1,622 persons actually on the fund at the 31st March, 1918, involving an annual liability of £98,324 10s. 4d. W. H. Heebies, Minister of Eailways, Chairman of the Government Eailways Superannuation Fund Board. 1

Eevenue Account op the Government Eailways Supebannuation Fdnd undeb Section 90 of THa Government Eailways Act, 1908, foe the Yeae ended 31st Mabch, 1918. Dr. £ s. d. Cr. £ s. d. To Balance brought f.iward on Ist April, By Retiring-allowanoes to— 1917 .. .. .. .. 377,585 2 1 Members .. .. .. 86,461 6 7 Members'contributions .. .. 80,79112 10 Widows and ohildren .. .. 9,250 17 7 Members' contributions on account of Payments under seotion 86 (c) .. 308 11 10 casual service .. .. .. 458 2 6 Contributions refunded .. .. 31,847 15 9 Fines .. .. .. .. 345 5 0 Fines refunded .. .. .. 3 5 0 Government contribution .. .. 25,000 0 0 Travelling - expenses of members of Interest received (with bonus) .. 17,322 6 2 Board .. .. .. .. 38 14 0 Donation, H.E. the Governor-General 10 0 0 Contributions transferred to Publio Service Superannuation Fund .. 201 9 2 Publio Trust Office charges .. 302 16 1 Amount of fund at close of year .. 373,097 12 7 £501,512 8 7 £501,512 8 7 /

Balance-sheet op the Govebnment Eailways Superannuation Fund undee Section 90 of the Government Eailways Act, 1908, fob the Year ended 31st Mabch, 1918. Liabilities. Assets. Dr. £ B - d - Gr - & s. d. Fund as per Revenue Account above .. 373,097 12 7 In hands of Publio Trustee .. .. 362,701 810 Life allowances not paid .. .. 1,020 3 9 Contributions and fines in transit .. 6,461 2 8 Widows' allowances not paid.. .. 72 12 3 Arrears of contributions due by members Contributions due to be refunded not in respect to oasual servioe .. 5,627 1 6 paid 599 4 5 £374,789 13 0 £374,789 13 0 W. H. Heebies, Chairman of the Government Eailways J. Mac Donald, Superannuation Fund Board. Chief Accountant, New Zealand Eailways. Examined and found correct.—P. Puevis Webb, 31st May, 1918. Deputy Controller and Auditor-General.