B.—l [PT. IV].

Notes.—(a) No charge for the cost of exchange on interest payments made in London is included. (6) Owing to the interconnection of the undertakings in the North Island it has not been found practicable to show separately the accounts of the various schemes as required by the State Supply of Electrical Energy Act, 1917T. A. Bakrow, A.R.A.N.Z., Accountant, Public Works Department. I hereby certify that the General Balance-sheet has been duly compared with the relative books and documents submitted for audit, and correctly states the position as disclosed thereby, subject to the departmental notes enfaced thereon. The following comments are appended:— 1. To avoid delay, the accounts of the Mangahao-Waikaremoana scheme, the audit of which has not been completed by the local Audit Inspector, have been accepted from the Department's records 2. The agreement with the Wellington City Council for the supply of electricity from Mangahao expired on 30th September, 1935, and the terms of a new agreement have not yet been settled. The accounts as presented include the amount charged for the supply for the balance of the year calculated at an increased rate, but the City Council has paid for this period at the previous rate and disputes liability for the balance of £17,705 3s. 4d. G. F. C. Campbell, Controller and Auditor-General.

ELECTRIC SUPPLY ACCOUNT— continued. STATEMENT OF ACCOUNTS AT THE 31st MARCH, 1936—continued. General Balance-sheet at 31st March, 1936, as compared with Position at 31st March, 1935— continued.

28

Liabilities. 1935-36. 1934-35. j Assets. 1935-36. 1934-35. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. Brought forward .. .. .. 12,313,542 18 6 12,311,476 16 .3 Brought forward .. .. .. 14,037,763 12 6 13,915,413 6 5 Sundry Creditors — Balance in Electric Supply Account at the North Island scheme .. .. 70,008 6 9 60,930 17 2 end of year — South Island scheme .. .. 20,027 8 9 24,875 12 0 Cash in Public Account .. .. 39,501 13 2 330,149 10 10 Surveys and general .. .. .. 195 13 11 .. Imprests outstanding.. .. .. 3,101 17 4 2,308 5 9 90,231 9 5 42,603 10 6 85,806 9 2 332,457 16 7 Charges paid in advance — South Island scheme .. .. .. 13 15 0 Depreciation Reserve — North Island scheme .. .. 961,757 2 9 959,085 16 1 Investment Account (amount invested until .. 175,000 0 0 South Island scheme .. .. 388,546 3 4 323,599 14 1 actually required) 1,350,303 6 1 1,282,685 10 2 Sinking Fund Reserve — Amount utilized for redemption of loans 308, 945 0 0 308, 145 0 0 Available for further redemptions .. 17,555 5 1 18,338 15 3 326,500 5 1 326,483 15 3 Writings-off in Suspense —- South Island scheme .. .. .. 45 1 0 Reserve Fund — South Island scheme .. .. .. 175,809 3 3 241,418 11 5 Sundry debtors for interest due but unpaid .. 1,078 15 4 Total .. .. ' .. .. £14,256,445 18 4 £14,247,871 3 0 Total .. .. .. .. £14,256,445 18 4 £14,247,871 3 0 —===========