B.—l [Pt. IY].

HAURAKI PLAINS SETTLEMENT ACCOUNT—continued. Balance-sheet as at 31st March, 1925. Liabilities. Assets. Capital Account— £ s. d. Improved land— £ a. d. Debentures issued— Handed over to Land Board for Settlement 327,459 17 11 Local Bodies' Loans Act, 1908 .. .. 31,000 0 0 Less— £ s, d. New Zealand State - guaranteed Advances Sales .. .. .. 75,392 7 5 Act, 1909 .. .. .. .. 95,000 0 0 Reductions by Revaluation Hauraki Plains Amendment Act, 1913 .. 504,000 0 0 Board .. .. .. 40,580 0 0 Expenditure from Public Works Fund .. 5,070 0 0 115,972 7 5 Value of Crown lands set apart under the Act.. 45,000 0 0 Appreciation in value of lands transferred to 211,487 10 6 control of Land Board .. .. .. 24,545 17 11 Unimproved lands— Interest accrued but unpaid on debentures Not yet disposed of .. .. .. 44,481 10 9 issued under Hauraki Plains Amendment Act, Improvements on adjoining Crown lands .. 7,710 0 0 1913 .. .. .. .. .. 5,220 11 0 Permanent reserves .. .. .. 8,851 0 0 Consolidated Fund — Works in progress— Interest on debentures issued under Local Expenditure on land in process of reclamation, Bodies' Loans Act, 1908.. .. .. 26,831 15 5 including formation and metalling of roads 312,040 11 10 Interest, 1924-25, on debentures issued under Artesian wells— £ s. d. Hauraki Plains Amendment Act, 1913 .. 21,990 17 2 Hauraki Plains Crown tenants 1,753 17 11 Unpaid rates levied, 1917-21 .. .. 123 13 0 Permanent reserves and Crown Interest on expenditure from Lands Improve- lands .. .. .. 216 10 9 ment vote (Public Works Fund) .. .. 2,053 7 0 1,970 8 8 Sinking Fund Reserve .. .. .. 5,850 17 4 Buildings .. .. .. .. 7,272 6 0 Sundry creditors .. .. .. .. 6,850 8 9 Wharves .. .. .. .. 5,909 0 0 Rates, &c., paid in advance .. .. .. 0 5 1 Machinery and plant .. .. .. 66,651 17 6 Writings off Suspense .. .. .. 5 4 1 Live-stock .. .. .. .. 302 16 0 Rents charged in advance .. .. .. 2,867 0 0 Loose tools .. .. .. .. 1,473 15 6 Stores and fuel .. .. .. 5,924 12 6 Sundry debtors for— Rents .. .. .. 5,410 3 9 Sales of land .. .. 2,515 7 6 Interest on sales, &c. .. 192 7 7 Rates .. .. .. 9,329 10 0 Tram freights .. .. 441 10 1 Miscellaneous .. .. 3,376 6 10 21,265 5 9 Postponed rent . . .. .. 199 18 9 Writings off in Suspense .. .. 5 4 1 Revaluation Board determinations— Reductions in value of land .. 40,580 0 0 Rents written off .. .. 5,383 16 9 Remission of rents .. .. 5,157 12 4 — 51,121 9 1 Interest accrued but not due on sales of land .. .. . . 60 0 0 Sinking Fund— In hands of Public Trustee .. 2,176 5 6 Proportion under Public Debt Extinction Act, 1910 .. 3,674 11 10 5 ; 850 17 4 Revenue Account balance .. .. 17,924 17 5 Cash in Public Account .. .. 5,906 15 1 £776,409 16 9 £776,409 16 9 The Valuer-General has been requested to value all unlet lands within the area, and lands in process of reclamation. J. B. Thompson, Under-Secretary. J. H. O'Donnell, Chief Accountant. 2nd September, 1925. 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, except — (a) In the opinion of the Audit Office interest charged on works in progress should be capitalized ; (b) a Bad Debts Reserve should be created ; (c) suggestions in reference to the treatment of expenditure on lands already handed over for settlement have been made to the Department.—G. F. C. Campbell, Controller and Auditor-General.

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