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Revenue Account for the Year ended 3.1 st March, 1928. Dr. £ s. d. Cr. £ s. d. To Rates, &c, written off .. .. .. 310 710 By Accrued rents .. .. .. .. 143 19 0 Interest on debentures .. .. .. 20,503 0 0 Rates levied to moot maintenance £ s. d. Maintenance of completed works .. .. 2,629 1 6 cost .. .. .. 2,578 10 6 Excess levy for maintenance rate transferred to Rates levied for repayment of Suspense Account .. .. .. 1,025 0 0 capital and interest .. 2,000 0 0 4,578 10 6 Excess rate levied in previous year transferred in reduction of maintenance costs .. .. 1,267 0 0 Penalty levied on arrears of £ s. d. maintenance rate . . .. 101 15 4 Penalty lovied on arrears of capital rate .. .. 101 6 11 203 2 3 "Thirds" .. .. .. .. 10 4 8 Interest on investments .. .. .. 550 1 10 Interest allowed on sinking-fund contributions. . 20 2 7 Rates for year ended 31st March, 1928, capitalized under section 12 (4; (c), Finance Act, 1927 (No. 2) .. .. .. .. 8,618 17 3 Interest on amount of rates capitalized as above under section 12 (4) (d), Finance .Act, 1927 (No. 2) .. .. .. .. 351 5 11 Balance transferred to Drainage Works Account 8,724 5 4 £24,467 9 4 £24,467 9 4 Balance-sheet as at 31st March, 1928. Liabilities. £ s. A. Assets. £ s. d. Loan Account .. .. .. .. 507,500 0 0 Drainage works —Expenditure in connection thereLess loans redeemed under Public £ s. d. with, including wages, supplies, administration, Debt Repayment Act, 1925 .. 15,500 0 0 and engineering expenses, depreciation of plant Securities cancelled and amounts written off, as and capitalized interest charges-reduction under per contra.. .. .. .. .. 15,500 0 0 section 22, Finance Act, 1925 .. ..326,405 15 0 Less securities cancelled and amounts written off, 492,000 0 0 an per contra. .. .. .. .. 15,500 0 0 Loans rodeomed from Consolidated £ s. d. Fund .. .. .. 2,500 0 0 310,905 15 0 Less sinking fund in hands of Drainage works—Cost recoverable £ s. d. Public Trustee .. .. 1,525 16 0 out of rates .. ..205,000 0 0 974 4 0 Capitalized interest (section 12, Interest contributed by Consolidated Fund .. 63,650 19 7 Finance Act, 1927 (No. 2)) .. 15,996 I 3 Unpaid purchase-money for land taken. . .. 210 1 1 220,996 I 3 Sundry creditors —Miscellaneous .. .. 1,540 1 7 Plant and machinery .. .. .. 18,829 12 10 Interest on debentures accrued, but not due .. 4.836 6 2 Live-stock .. .. .. .. .. 3 10 0 Suspense Account, for maintenance rate levied in Loose tools .. .. .. .. .. 331 3 0 excess of requirements .. .. .. 1,025 0 0 Buildings .. .. .. .. .. 1,246 0 3 Consolidated Fund —Amount overpaid on account Wharves .. .. .. .. .. 330 16 3 of maintenance subsidy .. .. .. 951 0 0 Material and stores .. .. .. .. 1,126 3 9 Suspense Account .. .. .. .. 2,005 8 8 Fuel .. .. .. .. .. 221 8 0 Reserve Account .. .. .. .. 138 14 2 Land for Settlement Account .. . . .. 20 0 0 Rates paid in advance .. .. .. 10 13 10 Sundry debtors for rates .. .. .. 7,145 4 2 Rent paid in advanco .. .. .. 16 18 8 Sundry debtors for law-costs .. .. .. 78 10 1 Sundry debtors for rent .. .. .. 716 6 Sundry debtors for miscellaneous . . . . 62 14 10 Sundry debtors for interest on investments .. 199 2 2 Cash in hands of Post Office .. . . .. 47 16 8 Cash in Public Account, 31st March, £ s. d. 1928 .. .. .. 3,807 13 0 Cash in Investment Account . . 2,000 0 0 5,807 13 0 £567,359 7 9 £567,359 7 9 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 comment is appended : — Interest on the amount held by the Public Trustee on behalf of the Public Debt Redemption Fund has been compounded, whereas there is no statutory provision therefor. G. F. C. Campbell, Controller and Auditor-General.

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