49

B.—l [PT. IV] •

NATIONAL ENDOWMENT ACCOUNT. Statement of Receipts and Payments fob the Year ended 31st March, 1924.

Receipts. Payments. £ s. d, £ s. d. By Expenditure tinder section 17, Land £ s. d. To Cash in Public Ac- Laws Amendment Act, 1912 .. 8,741 19 9 count, Ist April, Refunds of revenue .. .. 1,791 4 4 1923 .. .. 29,356 15 1 Payments for education and old-age Investment Account, pensions .. .. .. 111,125 0 9 Ist April, 1923 .. 82,000 0 0 Cash in Public Ac- —— 111,356 15 1 count 31st Maroh, £ s. d. Rents, &c., from national-endowment 1924 .. .. 49,663 3 0 lands .. .. .. 133,133 11 6 Investment Account, Sales under Section 267, Land Act, 31st March, 1924 75,000 0 0 1908.. .. .. .. 10 0 0 124,663 3 0 Sales under section 16, Land Laws Amendment Act, 1912 .. .. 813 Interest on investments .. .. 1,813 0 0 £246,321 7 10 £246,321 7 10 Revenue Account foe the Year ended 31st March, 1924. Dr. £ s. d. Cr. £ s. d. To Loan repayments, principal and in- By Accrued rents, &c. .. .. 134,919 4 0 terest— Accrued timber royalties .. .. 20,490 1 11 Local Bodies' Loans £ s. d. Accrued coal rents and royalties .. 866 7 7 Act, 1908 .. 4,696 5 3 Interest on investments .. .. 2,141 310 Section 63, Land Laws Amendment Act, 1913 .. 3,696 7 8 8,392 12 11 Administration expenses .. .. 7 ,735 1 2 "Thirds," "fourths," and "halves" 18,005 12 6 Remissions of rent .. .. 449 13 4 Rebates granted .. .. .. 2,314 12 6 Refunds of rent .. .. .. 83 5 4 Sundry costs .. ... .. 917 10 0 Balance carried down .. .. 120,518 9 7 £158,416 17 4 = £158,416 17 4 To Contributions for education and old- £s.d. ~ age pensions .. .. .. 125,252 17 9£s. d. Balance .. .. .. .. 72,136 16 BBy Balance brought down .. 120,518 9 7 Adjustment on account of previous years — £ s. d. Miscellaneous .. 797 11 8 Royalties .. 5,635 15 7 — 6,433 7 3 Balance from previous years .. 70,437 17 7 £197,389 14 5 £197,389 14 5 i Balance-sheet as at 31st March, 1924. Liabilities. £s.d. . Assets. £s. d. Capital, including loading for roads, &c. 4,762,378 19 7 Land .. .. .. .. 4,744,191 7 7 Appreciation in land-values .. 932 13 6 National Endowment Trust Account 19,102 4 3 Sundry creditors .. .. .. 454 7 0 Unpaid purchase price (not yet payRents paid in advance .. .. 652 8 9 able) of buildings .. .. 189 4 6 Royalties paid in advance .. .. 12 18 9 Sundry debtors for rents, £s. d. Rents written off Suspense .. 2,616 18 6 &c. .. .. 50,185 10 10 Endowments payable for old-age pen- Less reserve for irrresions and education purposes .. 124,215 9 0 coverable rents .. 781 7 6 Balance of Revenue Account .. 72,136 16 8 49,404 3 4 Rents written off Suspense .. .. 2,61618 6 Sundry debtors for principal building instalments .. .. .. 35 15 6 Sundry debtors for royalties .. 6,687 3 10 Misceilaneous sundry debtors .. 12,737 18 9 Postponed rent .. .. .. 2,956 1 1 Interest accrued due on investments .. 816 11 5 £ s. d. Cash in Public Account 49,663 3 0 Investment Account .. 75,000 0 0 124,663 3 0 £4,963,400 11 9 £4,963,400 11 9 15th August, 1924. J. B. Thompson, Under-Secretary for Lands. J. H. O'Donnell, Chief Accountant. I hereby certify that the Statement of Receipts and Payments, Revenue Account, and balancesheet have been duly examined and compared with the copies of journal entries of the District Land Boards, and correctly state the position as disclosed thereby, except that the Revenue Account includes rents due for the period Ist July, 1923, to 30th June, 1924, and that Capital Account is overstated by the total amount the land was loaded for roading, &c., and in the opinion of the Audit Office instalments of principal included in loan repayments should not be a charge against the Revenue Account. —G. F. C. Campbell, Controller and Auditor-General.

7—B 1 [PT. IV!.