B.—l [PT. I].

PUBLIC ACCOUNTS, 1 927-1 92 8.

PUBLIC ACCOUNT CASH BALANCE INVESTMENT ACCOUNT.

R. E. Hayes, Secretary to the Treasury. A. D. Pakk, Examined and found correct. Assistant Secretary to the Treasury. G. F. C. Campbell, Controller and Auditor-General. The Treasury, Wellington, Ist June, 1928. Ist June, 1928.

71

1926-1927. 1927-1928. Gross. EXPENDITURE. Grosj £ s. d. Balance at beginning of Year, — £ s. d. £ s. d. Investment Account .. .. .. .. .. .. .. .. 1,100,000 0 0 Balance at end of Year, — Investment Account — 1,100,000 0 0 Securities held .. .. .. .. .. .. .. .. 2,275,000 0 0* £1,100,000 0 0 Totals .. .. .. .. .. .. .. £3,375,000 0 0 * For explanatory statement see page 73. Note. —In these accounts the credits-in-aid (section 51, Public Revenues Act, 1926) and other credits in reduction of expenditure are receipts, and are not deducted from the expenditure as prior to 1924-25. For the purposes of comparison a summary showing the net expenditure will be found on page 74.