B.—l [PT. IY, SUP.] .

CHEVIOT ESTATE ACCOUNT. Revenue Account foe the Year ended 31st March, 1927. Dr. £ s. d. Cr. £ s. d. To Administration expenses .. .. .. 847 19 10 By Accrued rent .. .. .. .. 19,308 17 0 Interest on inscribed stock .. .. 5,579 19 9 Interest on investments .. .. .. 7,882 16 8 Irrecoverable rents .. .. .. 7 19 3 Management charges of inscribed stock .. 37 6 3 Rebate .. .. .. .. 1,738 16 9 Balance carried down .. .. .. 18,979 11 10 £27,191 13 8 £27,191 13 8 £ s. d. £ s. d. To Balance carried forward .. .. .. 274,977 5 1 By Balance brought down .. .. .. 18,979 11 10 Balance from previous year .. .. 255,997 13 3 £274,977 5 1 £274,977 5 1 Balance-sheet as at 31st March, 1927. Liabilities. £ s. d. Assets. New Zealand consolidated stock . . .. 160,918 0 0 Land— £ _s. d. £ s. d. Interest on consolidated stock (accrued but not Leased .. .. .. 391,340 0 0 due) .. .. .. .. .. 1,373 6 4 ITnleased .. .. 300 0 0 Rents charged in advance .. .. .. 6 ,465 11 10 391,640 0 0 Reserve Account .. .. .. .. 129,670 11 11 Sundry debtors for rents .. .. .. 1,448 8 2 Writings-off in Suspense .. .. .. 719 3 Sundry debtors for interest on investments .. 419 14 7 Revenue Account .. .. .. .. 274,977 5 1 Postponed rent .. .. .. .. 1,333 19 2 Interest accrued but not due on investments .. 2,411 1 9 Outstanding Rents Suspense .. .. 7 19 3 Capital reductions by Revaluation Board . . 1,110 0 0 Rents written off by Revaluation Board .. 153 0 0 Investments in Public Debt Redemption Fund 2,230 4 0 £ s. d. Cash in Public Account .. 12,878 7 6 Investment Account .. 159,780 0 0 — 172,658 7 6 £573,412 14 5 £573,412 14 5 W. Robertson, Assistant Under-Secretary lor Lands. 20th June, 1927. J. H. O'Donnell, Controller of Accounts. 1 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. The following comment is appended : No portion of the annual contribution paid by the Consolidated Fund for the redemption of the loans raised for the purpose of this account is included in the Balance-sheet.—G. F. C. Campbell, Controller and Auditor-General. Note. —The annual contribution from the Consolidated Fund under the Repayment of the Public Debt Act, 1925, is not paid in respect of particular loans, but is for the redemption of debt generally. When loans of any separate account are redeemed, however, the amount of such redemption becomes a liability of the appropriate account to the Consolidated Fund in terms of section 22 of the Finance Act, 1926. A. D. Park, F.1.A.N.Z., Accountant to the Treasury. CONSOLIDATED FUND—REVENUE UNDER SECTION 12 OF THE REPAYMENT OF THE PUBLIC DEBT ACT, 1925. Revenue Account for the Year ended 31st March, 1927. Br. £ s. d. Or. £ s. d. To Public Debt Repayment Account— By Interest on the Public Debt Redemption Payments during the year — Fund due to the Consolidated Fund— | per cent, on the public debt out- Public Trust Oifice (£7,966,688 lis. 2d.), standing as at 31st March, 1926 Ist April, 1926, to 31st March, 1927, (£182,113,695 18s. 7d.) .. .. 896,651 3 5 at 5J per cent. .. .. .. 418,251 2 5 3| per cent, of the amount of the public Discharged Soldiers Settlement Account debt redeemed to 31st March, 1926 .. 31,140 12 10 (£13,500,000), Ist April, 1926, to 31st 3£ per cent, of the amount of the public March, 1927, at 4 per cent. .. 540,000 0 0 debt cancelled during the year com- State Advances Office (£3,258,955 19s. puted from dates of redemption .. 13,737 8 1 4d.), Ist April, 1926, to 31st March, Excess of revenue over expenditure .. 166,621 1 8 1927 (net earnings) .. .. 114,944 10 6 Accrued at 31st March, 1927 .. 34,954 13 1 £1,108,150 6 0 £1,108,150 6 0 Notes.—-(a) Included in the net earnings of the State Advances Office is an amount of £10,122 10s. lid. which had not been paid to Consolidated Fund by 31st March, 1927. (6) Overdue interest amounting to £9,093 3s. lid. on securities held by State Advances Office has not been included. (c) Interest has been credited on the full amount (£13,500,000) transferred from the Consolidated Fund to the Discharged Soldiers Settlement Account, and now declared to be capita] moneys of the Public Debt Redemption Fund, as the amounts to be written off against this sum have not yet been determined. A. D. Park, F.1.A.N.Z., Accountant to the Treasury. 7th October, 1927. I hereby certify that the Revenue Account has been examined and compared with the relative books and documents submitted for audit, and correctly states the position as disclosed thereby, subject to the above departmental notes. —G. F. C. Campbell, Controller and Auditor-General.

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