C.—9.

DISCHARGED SOLDIERS SETTLEMENT ACCOUNT— continued. Balance-sheet as at 31st March, 1928— continuedLiabilities —continued. £ s. d. Assets —continued. £ s. d. Brought forward .. .. 18,208,806 11 1 Brought forward .. .. .. 16,419,384 5 8 Suspense Account—Receipts not allocated .. 20917 11 Machinery and plant .. .. .. 4,699 8 3 Realization Suspense Account .. .. 76 6 11. Office requisites .. .. .. .. 18 6 1 Fire Loss Suspense Account .. .. 8,924 14 2 Dominion Revaluation Board — Current AdBents charged in advance .. .. .. 4,466 6 3 vances Suspense (sections 3 (3) (ft), Discharged Writings-off in Suspense .. .. .. 188,926 910 Soldiers Settlement Amendment Act, 1924).. ■ 20,368 15 4 Roservo for depreciation .. .. .. 3,182 19 1 Sundry debtors for principal Reserve for losses on abandoned properties, &c., instalments — £ s. d. on hand .. .. ~ .. 750,000 0 0 Section 2, Farms Account 60,589 17 7 Reserve Account .. .. .. .. 55,851 4 5 Section 2, Dwellings AoPer contra— oount .. .. 30,240 1 4 Accumulated losses written, off under sec- Buildings on properties .. 249 13 6 tion 22 of tho Finance Act, 1927 (No. 2), Merged interests (seeby discharge of liabilities— tion 20 (3), Discharged Interest unpaid on trans- £ s. d. Soldiers Settlement fer from Consolidated Amendment Act, 1923) 508 5 2 Fund .. .. 880,000 0 0 . 91,587 17 7 Interest on debentures Sundry debtors for miscellaneous advances .. 1,243 13 5 due to Consolidated Sundry debtors for interest — £ s. d. Fund .. .. 160,010 12 6 Current Account .. 82,789 16 3 Interest accrued on re- Section 2, Farms Account . 113,379 4 10 demption of deben- Section 2, Dwellings Actures from Consoli- count .. .. 1.8,007 11 6 dated Fund .. 496 2 1 Buildings on properties .. 302 14 11 Redemptions of deben- Merged interests (sectures from Consoli- tion 20 (31, Discharged dated Fund .. 30,000 0 0 Soldiers' Settlement Reduction of £13,500,000 Amendmont Act, 1923) 2,245 11 2 transfer from Consoli- Miscellaneous .. .. 33 9 1 dated Fund ..1,600,000 0 0 216,818 7 9 Against Reserve Account 250 12 8 Sundry debtors for — 2,670,757 7 3 Rent of properties .. 12,799 17 8 Sales of stock, implements, &c. .. .. 285 9 6 Miscellaneous services .. 375 3 4 13,460 10 6 Postponements— Principal instalments .. 41,586 16 8 Interest .. .. 118,409 14 3 Rents .. .. 1,011 11 4 161,008 2 3 Intorest on advances accrued but not due .. 119,042 0 6 Interest accrued and interest due on surplus funds temporarily invested .. .. 9,572 7 11 Losses in Suspense .. .. .. 188,926 9 10 Losses through Revaluation Board Acoount from Ist April, 1927 — Reductions in mortgage- £ s. d. value .. .. 55,952 12 6 Interest written off .. 1,576 14 I Remissions of interest .. 29,209 9 5 Revaluation Board expenses .. .. 156 16 3 86,895 12 3 Per contra — Accumulated losses written off under section 22 of the Finance Act, 1927 (No. 2)— Revenue Account—Loss £ s. d. to 31st March, 1927.. .1,190,337 5 11 Revaluation Board reductions, &o. .. 1,335,420 1 4 Charges and expenses of raising loans .. 145,000 0 0 2,670,757 7 3 Rovonue Account—Net loss, 31st March, 1928 1,212,106 11 5 Investment in Public Debt Redemption Account 39,934 19 7 £ s. d. Cash in Public Account .. 284,139 10 2 Imprests outstanding .. 4,993 211 Investment Account .. 346,244 8 3 635,377 1 4 £21,891,201 16 11 £21,891,201 16 11 J. B. Thompson, Under-Secretary for Lands. J. H. O'Donnell, Controller of Accounts. I hereby certify that the Statement of Receipts and Payments, 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 comments are appended : (1) The only assets verified are cash in Public Account, Imprests outstanding, investments and interest accrued on investments, and the liability for debenture loans. (2) Certain questions relative to the authority for writing off losses and the charging of compound interest in respect of liabilities to the Consolidated Fund and also in respect of Sinking Fund contributions to be set off against such liabilities are still under consideration.—G. F. C. Campbell, Controller and Auditor-General.

4—C. 9.

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