B.—l [PT. IYJ,

STATE FOREST SERVlCE—continued. Balance-sheet as at 31st March, 1924. Liabilities. Assets. Sundry creditors— £ s. d. £ s. d. £ s. d. £ s. d. National Endowment Ac- Standing forests .. .. .. 33,745,646 0 0 count .. .. 31,800 2 6 Additions, 1923-24 .. .. 443,302 6 0 On open account .. 3,800 13 4 — Interest accrued to 31st 34,188,948 6 0 March, 1924 .. 4,616 15 9 Less reserve at 31st 40,217 11 7 March, 1923 .. 83,594 12 5 Sinking Fund Reserve Ac- Transferred from Income count .. .. .. 2,23667 and Expenditure AcAssets Suspense Account count .. .. 206,157 12 10 reserve .. .. .. 723 15 10 — — 289,752 5 3 Liability for amounts held in deposit .. .. .. 1,127 14 1 33,899,196 0 9 Consolidated Fund—Grants Forest improvements— made .. .. .. 59,250 0 0 Demarcation .. .. 391 7 9 Loan Account —Debentures Roads and tracks .. 310 6 7 and stock issued .. .. 501,171 6 3 Protection improvements 52 4 8 Forest Capital Account .. 36,146,892 2 3 — 753 19 0 Less adjustments of value Plantations and nurseries .. . 1,028,103 7 10 of assets .. .. 311 0 7 Land .. .. .. 1,834,002 10 0 Additions, 1923-24 .. 24,293 0 0 36,146,581 1 8 — 1,858,295 10 0 Increase of lands and Experimental works— forest controlled .. 463,121 13 0 . Sand-dune reclamation .. 3,073 4 11 r 36,609,702 14 8 Westland Forest Experiment Station .. 2,722 4 1 — 5,795 9 0 Departmental property— Buildings .. .. 338 8 9 Field equipment .. 2,302 3 3 Office equipment .. 2,335 14 8 Motor-vehicles .. .. 1,307 1 7 Telephone-lines .. 252 8 9 Fire-fighting equipment .. 250 11 0 Photographic equipment 166 10 6 Reference library and forest exhibits .. 532 8 0 Forest ecology equipment 142 15 9 Timber-testing equipment 176 1 1 Forest atlas .. .. 750 5 4 8,554 8 8 Sinking Fund Investment Account .. .. .. 2,236 6 7 Assets Suspense Account .. .. 723 15 10 Deposit Account, Amounts held in .. .. .. 1,127 14 1 Sundry debtors— State Forests .. .. 251,216 14 11 Nurseries .. .. 32 18 3 Interest accrued on Investment Account .. 1,973 9 8 253,223 2 10 Less reserve for bad and doubtful debts .. 2,500 0 0 250,723 2 10 Cash — In Investment Account .. 144,700 0 0 In Public Account .. 10,913 16 10 In Post Office .. .. 3,212 5 10 In Treasury Stamp Duties Suspense Account .. 93 11 9 — 158,919 14 5 £37,214,429 9 0 £37,214,429 9 0 Notes. (1.) All lands under the jurisdiction of the State Forest Service, including national-endowment lands, have been nominally valued at ss. per acre. (2.) The value of standing indigenous forests has been established by the Director of Forestry. (3.) Plantations have been valued at cost plus compound interest, less returns compounded. E. Phillips Turner, Secretary of Forestry. A. W. Gyles, Accountant. I hereby certify that the Income and Expenditure 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.—6. P. C. Campbell, Controller and Auditor-General.

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