B.—l [PT. IV].

GOVERNMENT LIFE INSURANCE DEPARTMENT. Revenue Account of the Government Life Insurance Department por the Year ended 31st December, 1932. £ s. d. £ s. d. Amount of funds at Ist January, 1932 8,568,627 5 0 Death claims under assurance policies, Renewal premiums — Assurance, an- including bonus additions,. .. 203,820 0 0 nuity, and endowment, less reinsur- Endowment assurances matured, includance premiums .. .. .. 609,271 5 3 ing bonus additions .. .. 273,872 0 0 New premiums (including instalments Endowments matured .. .. 9,941 4 0 of first year's premiums falling due Premiums returned on endowments .. 162 4 4 in the year) less reinsurance premiums 30,339 16 0 Bonuses surrendered for cash .. 17,856 14 11 Single premiums—Assurance and en- Premiums returned on deferred andowment .. .. .. 6,081 5 8 nuities .. .. .. .. 728 19 0 Consideration for annuities .. .. 10,376 15 3 Annuities.. .. .. .. 23,478 17 2 Interest, rent, and other £ s. d. Surrenders .. .. .. 82,883 10 1 income .. 420,207 9 6 Loans released by surrender .. 107,936 14 10 Less land and in- £ s. d. come tax, £24,268 Commission, new* .. 22,048 14 2 2s. 10d.; property „ renewal.. 4,381 14 1 expenses, £1,724 26,430 8 3 os. 3d. ; stamp Contribution to Public Service Superduty on interest, annuation -Fund.. .. .. 813 5 6 £9,863 Is. 3d. .. 35,855 4 4 £ s. d. 384,352 5 2 Expenses of managementSalaries .. .. 31,270 1 3 Extra clerical assistance .. .. 455 510 Payment to Treasury under Finance Act, 1931 (No. 2) .. 3,665 4 0 Medical fees and expenses .. 1,417 8 6 Travelling-expenses 803 17 2 Advertising .. 296 7 10 Printing and stationery .. .. 1,701 5 11 Rent .. .. 4,399 4 4 Postage and telegrams .. .. 2,089 10 8 Audit fees . . 325 0 0 General expenses .. 3,902 14 11 50,326 0 5 Property depreciation .. .. 1,250 0 0 Transfer to Investment Fluctuation Reserve Account .. .. 65,000 0 0 Amount of funds, 31st December, 1932 8,744,548 13 10 £9,609,048 12 4 £9,609,048 12 4 — — * including agents' allowances. — Balance-sheet op the Government Lipe Insurance Department on 31st December, 1932. Liabilities. Assets. £ s. d. £ s . d. Total assurance, annuity, and en- Loans on policies .. .. .. 1,269,706 3 2 dowment funds (as per Revenue New Zealand Government securities.. 2,385,360 0 0 Account) .. .. .. 8,744,548 13 10 Rural advances bonds .. .. 85,752 0 0 Claims admitted, proofs not yet Municipal Corporation debentures . . 292,219 15 2 completed .. .. .. 36,414 12 3 County securities .. .. .. 121,853 610 Annuities.. .. .. .. 126 9 3 Harbour Board debentures.. .. 25,700 0 0 Commission .. .. .. 223 7 8 Town Board debentures .. .. 26,971 6 4 Medical fees .. .. .. 92 8 0 Road Board debentures .. .. 21,800 0 0 Premium and other deposits .. 10,117 8 0 Drainage Board debentures .. 1,693 6 8 Sundry creditors .. .. .. 3,915 13 4 Power Board debentures .. .. 711,217 4 4 Accident and Fidelity Fund.. .. 4,951 18 5 Landed and house property .. 124,749 10 0 Investment Fluctuation Reserve .. 329,273 14 9 Landed and house property (leasehold) 1,797 15 8 Sinking funds on local £ s. d. Mortgages on property .. .. 3,744,403 19 3. body loans .. 22,308 19 5 Properties acquired by foreclosure .. 21,179 10 I Interest accrued there- | Overdue premiums on £ s. d. on .. .. 297 6 5 policies in force .. 9,973 18 1 22,606 5 10 Outstanding premiums due but not overdue 55,808 15 2 65,782 13 3 Overdue interest .. 60,691 2 3 Outstanding interest due but not overdue 11,385 19 10 Interest accrued but not due .. .. 101,559 8 0 173,636 10 1 Sundry debtors .. .. .. 752 15 5 Deposited with bank .. .. 45,000 0 0 Cash in hand and on current account 32,694 15 1 £9,152,270 11 4 £9,152,270 11 4 A. E. Allison, Commissioner. Government Life Insurance Department. W. E. Arnold, Secretary. The Audit Office, having examined the Revenue Account and Balance-sheet, and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith.—G. F. C. Campbell, Controller and Auditor-General.

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