B.—l [PT. IV].

GOVERNMENT LIFE INSURANCE DEPARTMENT. Revenue Account of the Government Life Insurance Department for the Year ended 31st December, 1935. Dr. £ s. d. Or. £ s. d. Amount of funds at Ist January, 1935.. 9,241,763 15 9 Death claims under assurance policies, Renewal premiums—Assurance, annu- including bonus additions .. 185,372 5 0 ity, and endowment, less reinsurance Endowment assurances matured, includpremiums .. .. .. 585,263 19 9 ing bonus additions .. .. 294,714 14 0 New premiums (including instalments Endowments matured .. .. 11,287 19 0 of first year's premiums falling due Premiums returned on endowments .. 98 16 9 in the year) less reinsurance premiums 43,865 14 1 Bonuses surrendered for cash .. 10,737 14 2 Single premiums—Assurance and en- Annuities .. .. .. 28,515 17 1 dowment .. .. .. 39,815 16 4 Surrenders .. .. .. 49,644 15 1 Consideration for annuities .. .. 52,265 19 8 Loans released by surrender.. .. 95,304 6 9 Interest, rent, and other £ s. d. £ s. d. income .. 423,679 1 9 Commission, new* .. 35,034 9 9 Less land and in- ~ renewal 4,508 7 5 come tax, £22,969 39,542 17 2 19s. 3d.; property Contribution to Public Service Superexpenses, £1,371 annuation Eund .. .. 731 311 ss. sd. .. .. 24,341 4 8 Addressograph installation .. .. 3,787 15 4 399,337 17 1 £ s. d. Expenses of management — Salaries .. .. 36,339 5 5 Extra clerical assistance .. .. 406 22 Medical fees and expenses .. .. 1,561 3 6 Travelling-expenses 1,315 7 9 Advertising .. 404 13 10 Printing and stationery .. .. 1,498 19 2 Rent .. .. 4,645 14 11 Postage and telegrams .. .. 1,577 14 11 Exchange.. .. 34 4 8 Audit fees .. 325 0 0 General expenses .. 4,412 7 5 52,520 13 9 Property depreciation .. .. 1,381 13 1 Transfer to Investment Eluctuation Reserve Account .. .. 10,000 0 0 Amount of funds, 31st December, 1935 9,578,672 11 7 £10,362,313 2 8 £10,362,313 2 8 * Including agents' allowances. Balance-sheet of the Government Life Insurance Department on 31st December, 1935. Liabilities. £ s. d. Assets. £ s. d. Total assurance, annuity, and en- Loans on policies .. .. .. 1,257,691 13 4 dowment funds (as per Revenue New Zealand Government securities .. 2,517,260 0 0 Account) .. .. •• 9,578,672 11 7 Loans to local bodies .. .. 1,249,778 5 7 Claims admitted, proofs not yet Landed and house property .. 174,899 4 7 completed .. .. .. 33,214 2 9 Landed and house property (leasehold) 1,544 17 7 Annuities .. .. •• 340 14 10 Mortgages on property .. .. 3,818,060 6 11 Medical fees .. .. 201 12 0 Properties acquired by foreclosure .. 43,194 6 5 Premium and other deposits .. 14,770 10 10 Overdue premiums on £ s. d. Sundry creditors .. .. .. 4,002 7 5 policies in force .. 6,187 3 9 Accident and Fidelity Fund .. 5,000 0 0 Outstanding premiums Investment Fluctuation Reserve .. 461,712 0 1 due but not overdue 55,122 11 6 Sinking funds on local £ s. d. 61,309 15 3 body loans .. 9,679 7 9 Overdue interest . .. 39,741 15 10 Interest accrued there- Outstanding interest on ~ .. 137 10 9 due but not overdue 10,048 4 8 9,816 18 6 Interest accrued but not due .. .. 95,971 12 10 145,761 13 4 Sundry debtors .. .. .. 1,305 710 Income-tax paid in advance.. .. 20,000 0 0 Cash in hand and on current account .. 816,925 7 2 £10,107,730 18 0 £10,107,730 18 0 W. E. Arnold, Commissioner. J. W. Macdonald, 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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