H.-26.

4

PUBLIC SERVICE SUPERANNUATION FUND. Revenue Account fob, the Period Ist January, 1922, to 31st March, 1923.* £ s. d. Retiring-allowances— £ s. d. Amount of fund at beginning of year 1,718,837 311 To members .. .. .. 239,343 4 1 Members' contributions under section. To widows and children .. .. 18,189 9 4 29 (ordinary) .. .. .. 266,410 7 5 Contributions returned— Transfers from other superannuation Under section 46, Amendment Act funds .. .. .. .. 531 18 8 (left service) .. .. 69,145 8 11 Government subsidy!— £ Under section 42 (death). . .. 10.09117 10 1922 .. .. .. 86,000 Under section 32 (cc) .. .. 325 9 5 1923 (proportion) .. 21,500 Under section 32 (f) .. .. 1,806 5 8 107,500 0 0 Under section 38 (retirement) .. 1,852 16 1 Interest.. .. .. .. 121,330 8 7 Interest, section 2, Amendment Act .. 852 1 2 lines, &c. .. . . .. 500 17 10 Contributions to other superannuation Westport Harbour Board Superannua- funds (section 48) .. .. 204 0 7 tion Fund transferred .. .. 2,877 16 7 Expenses— Salaries .. .. .. 3,077 8 3 Office expenses .. .. .. 485 11 11 Public Trustee's charges .. .. 3,035 11 1 Medical fees .. .. i. 86 12 6 Audit fees . . .. .. 50 0 0 Post Office charges . . . . 50 0 0 Heating and lighting .. .. 19 14 8 Cleaning .. . . . . 107 14 0 Rent .. .. .. .. 150 0 0 Messenger service .. .. 75 0 0 Board members'election-expenses.. 12 12 0 Balance as at 31st March, 1923 .. 1,869,027 15 6 £2,217,988 13 0 £2,217,988 13 0 * Financial year altered from 31st December to 31st March. t Government subsidy payable in January of each year. Balance-sheet as at 31st March, 1923. Liabilities. Assets. £ s. d. Superannuation Fund Amount invested by the Board .. 1,799,041 6 9 Account— £ s. d. £ s. d. Contributions due, in course of transBalance from Re- mission .. .. .. 23,457 16 7 venue Account .. 1,869,027 15 6 Interest due and accrued .. ..' 31,177 18 11 Amount of fees Cost-of-living bonus recoverable (Conremitted, &c. .. 100 OKI solida ted Fund).. .. .. 1,373 3 8 1,869,127 10 4 Bank Account .. .. .. 94,947 4 10 Retiring and other allowances duo, in Balance in hands of Public Trustee .. 11,877 9 7 course of payment— Pvates and taxes paid on account of To members .. .. .. 2,486 12 2 mortgagors (recoverable).. .. 125 S 2 To widows and children .. .. 288- 0 6 Refunds of contributions due, in course of payment— Under section 46, Amendment Act (left service) .. .. .. 1 ,827 12 4 Under sections 42 and 43 (death) .. 646 2 5 Expenses due, in course of payment— Office expenses .. .. .. 38167 Public Trustee's charges .. .. 779 9 0 Heating and lighting .. .. 013 2 Rent . . .. .. .. 30 0 0 Contributions paid in advance orin error 4,152 2 4 Valuation fees due to Valuation Department .. .. .. 515 6 Unclaimed Account (contributions, &c.) 1,855 5 1 Post Office Account .. .. 16,202 3 I Balance Government subsidy* .. 64,500 0 0 £1,962,000 8 6 £1,962,000 8 6 * The Government subsidy is paid in January of each year. Owing to the change in the date of c financial year and to show the true position of the fund it is necessary to include this item as a liability. Subsidiary Account. Cost-of-living Bonus paid to Annuitants of the Public Service Superannuation Fund on behalf of the Treasury. £ s. d. £ s. d. To amount disbursed for period Ist Janu- By amount received from Treasury .. 21,402 13 3 ary, 1922, to 31st March, 1923 .. 22,775 16 11 Balance due .. .. .. 1,373 3 8 £22,775 16 11 £22,775 16 11 William M. Wright, Secretary. R. S. Wogan, Accountant, Public Service Superannuation Board. Wellington, 23rd July, 1923. I hereby certify that the Revenue Account and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.—G. F. C. Campbell, Controller and Auditor-General.