H.—Ba.

Revenue Account of the Accident Branch of the Government Insurance Department for the Year ended 31st December, 1923. £ a. A. £ a. A. Amount of Accident Funds, Ist January, Claims .. .. .. .. 22,401 14 7 1923 .. .. .. .. 21,008 15 5 Commission .. .. .. 4,548 7 6 Premiums .. .. £35,550 11 10 Salaries .. .. .. .. 3,940 0 0 Less reinsurance pre- Expenses of management .. .. 1,089 911 miums .. .. 291 19 3 Further appropriation to Reserve for un35,267 12 7 earned premiums .. .. .. 876 0 0 Interest .. .. 7,718 II 9 Amount of Accident Funds, 31st DecemLess land and income ber, 1923 .. .. .. .. 29,088 14 5 tax .. .. 1,510 13 4 — 6,207 18 5 £62,544 6 5 £62,544 6 5 Balance-sheet of the Accident Branch of the Government Insurance Department on 31st December, 1923. Liabilities. £ s. d. Assets, £ s. d. Accident Funds, as per Revenue Account 29,088 14 5 Debentures issued under authority of the Claims admitted (proofs not yet com- Finance Act, 1915 .. .. 10,000 0 0 pleted) .. .. .. . 12,000 0 0 New Zealand Inscribed Stock —War Commission .. .. .. 417 10 0 Loans .. .. .. .. 100,500 0 0 Premium and other deposits .. .. 443 14 (i New Zealand Inscribed Stock .. 3,000 0 0 Sundry creditors .. .. .. 1,713 18 2 Mortgages on property .. .. 38,805 0 0 Officers' Fidelity Fund .'. .. 400 0 0 Overdue interest .. .. Nil. Reserve for unearned premiums .. 15,805 0 0 Outstanding interest due £ s. d. Investment Fluctuation Reserve .. 3,000 0 0 but not overdue .. 105 16 3 Reserve Fund constituted under sec- Interest accrued but not due 1,620 0 3 tion 20 of the Government Accident 1,725 16 6 Insurance Act, 1908 .. .. 115,019 19 11 Agents'balances .. .. .. 697 8 7 Cash in hand and on current account .. 23,100 II 11 £177,888 17 0 £177,888 17 0 Government Insurance Department, 26th May, 1924. A. T. Traversi, F.1.A., F.C.A.S., Commissioner. G. A. Kennedy, Secretary. The Audit Office, having examined the Revenue Account and balance-sheet, and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith. —G. F. C. Campbell, Controller and Auditor-General.

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