23

B.—l [PT. IV].

HAURAKI PLAINS SETTLEMENT ACCOUNT. Revenue Account tor the Yeae ended 31st March* 1930. bf £ s. d. [ Or. £ s. d. To Interest on debentures issued under Hauraki ; By Rates .. .. .. .. .. 4,085 19 8 Plains Settlement Act, 1926 .. .. 32,173 17 7 Accrued rent .. .. . . .. 8,436 6 0 Interest on expenditure from Public Works Accrued royalties .. ~ . 494 16 0 Fund .i ,i ~ .. 202 16 0 Grazing fees . . .. .. ~ 133 1 4 Administration expenses . > . < . > 453 15 2 £ s. d. Maintenance of completed works .. .. 2,976 10 7 Tram freight and ferry fares 768 0 0 Remissions of rent and interest .. .. 917 7 8 Less half profits Kaihere Ferry to Remissions by Dominion Revaluation Board 72 1 6 County Council .. 16 13 7 Remissions of rates .. .. .. 183 2 1 751 6 5 Rebates— £ s. d. Interest on investments .. .. .. 682 12 9 Rent and interest .. 605 4 1 Interest on sales of land .. . . .. 283 13 4 Rates .. .. 22 11 8 Interest allowed on sinking-fund contributions 338 6 0 627 15 9 : Miscellaneous .. .. .. .. 657 19 9 Irrecoverable rent, &c., .. .. .. 297 10 11 Net loss carried down .. .. .. 22,055 16 0 Expenses of raising loans .. .. .. 15 0 0 — — £37,919 17 3 £37,919 17 3 — ' ■ £ s. d. £ s. d. By Balance carried forward .. .. .. 101,921 610 To Net loss brought down .. .. .. 22,055 16 0 Balance from previous years .. .. 79,865 10 10 £101,921 6 10 £101,921 6 10 Balance-sheet as at 31st March, 1930. Liabilities. Assets. Capital Account— £ s. d. £ s. d. Improved land handed over to Debentures issued under Hauraki Land Board for settlement—■ £ s. d. £ s. d. Plains Act, 1926 .. .. 785,000 0 0 Leased .. .. .. 164,739 17 2 Expenditure from Public Works Unleased .. .. .. 13,667 11 2 Fund .. .. .. 5,070 0 0 178,407 8 4 Value of Crown land set. apart Unpaid purchase price of land sold on deferred under the Act .. .. 45,000 0 0 payment.. .. .. .. .. 6,066 13 9 835,070 0 0 Unimproved lands not yet disposed of .. .. 44,375 5 1 Discharged Soldiers Settlement Account (merged Improvements on adjoining Crown lands .. 7,710 0 0 interests under section 20, Discharged Soldiers Permanent reserves .. .. .. .. 8,851 0 0 Settlement Amendment Act, 1923) .. .. 475 10 5 Works in progress—Expenditure on land in process Consolidated Fund— £ g. d. of reclamation, including formation and Interest on debentures under metalling of roads .. .. .. .. 491,076 18 2 Local Bodies Loans Act, 1908 22,083 6 8 Artesian wells— £ s. d. Interest on expenditure out of Crown tenants, Hauraki Plains 750 14 8 Public Works Fund .. 4,461 12 0 Permanent reserves and Crown Interest on temporary transfers lands .. .. .. 216 10 9 from other accounts .. 589 0 11 967 5 5 Rates unpaid, 1917-21 .. 47 15 0 Buildings .. .. .. .. .. 6,106 0 0 Interest on debentures under Wharves . . .. . . .. .. 4,557 10 0 Hauraki Plains Act, 1926 .. 78,271 1 8 Machinery and Plant .. .. .. 51,296 13 10 105,452 16 3 Live-stock .. .. .. .. .. 11l 4 0 Interest on debentures, accrued but not due .. 5,634 15 7 Loose tools .. .. .. .. .. 359 5 8 Sundry creditors—• " £ s. d. Stores and fuel .. .. .. .. 5,449 4 8 Interest on debentures .. 489 10 11 Stamps on hand .. .. .. .. 0 3 0 Departmental .. .. 82 17 6 Sundry debtors £ s. d. Miscellaneous .. .. 5,4.84 0 9 Rent .. .. .. 1,977 19 8 6,056 9 2 Rates .. .. .. 4,053 17 11 Rents charged in advance .. .. .. 2,312 0 0 Instalments of principal on Suspense Account .. .. .. .. 13 19 5 deferred payment sales .. 156 11 3 Writings-off in suspense .. .. .. 130 18 8 Interest on deferred-payment Payments in advance— sales .. .. .. 157 3 4 Rent .. .. .. 86 17 4 Interest on investments .. 116 7 8 Interest on deferred-payment Interest on well-boring .. 122 4 5 sales .. .. .. 28 0 2 Law costs .. .. . . 83 18 7 Rates .. .. .. 0 3 2 Tram freights , . .. 183 16 9 Miscellaneous .. .. 3 12 6 • Royalties .. .. .. 148 3 9 118 13 2 Grazing fees .. .. 11l 15 0 Departmental .. .. 1,592 19 7 Miscellaneous .. .. 5,270 8 2 13,975 6 1 Postponed rent . . . .. .. 325 17 9 Losses in suspense .. . . .. .. 130 18 8 Interest accrued but not due on sales of land .. 65 0 0 Investment in Public Debt Redemption Fund .. 8,795 16 6 Revenue Account —Balance forward .. .. 101,921 610 Cash in transit from Post Office .. .. 463 15 9 Cash in Public Account .. .. .. 24,252 9 2 £955,265 2 8 £955,265 2 8 J. B. Thompson, Under-Secretary for Lands. J. H. O'Donnell, Controller of Accounts. 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. The following comments are appended: (1) In the opinion of the Audit Office interest charged on works in progress should be capitalized. (2) A Bad Debts Reserve should be created. (3) Suggestions in reference to the treatment of expenditure on lands already handed over for settlement were made to and are at present under consideration by the Department. —J. H. Fowler, Deputy Controller and Auditor-General.