B.—l [PT. IV].

TEACHERS' SUPERANNUATION FUND—continued. Balance-sheet as at 31st January, 1939. Liabilities. £ s. d. Assets. Fund as per Revenue Account .. .. 975,734 17 3 Amount held by Public Trustee— £ s. d. £ s. d. Retiring and other allowances due and unpaid .. 2,549 2 7 Invested * .. .. 963,538 2 6 Refund of contributions due and unpaid .. 819 15 8 Uninvested .. .. 965 10 2 Administration expenses unpaid— yg4 503 12 y Commission, Post and Tele- £ s. d. Premium paid on purchase of graph Department .. 208 4 0 Investments .. .. 3,138 18 4 Clerical assistance .. .. 750 0 0 Less amount written off .. 308 4 3 Postage and telegrams .. 83 6 8 2 830 ] 4 1 Office expenses, printing, and Amounts paid to protect securities .. 216 ] 4 stationery .. .. 10 4 5 j Contributions of members— Audit fee.. .. .. 41 13 4 In transit .. .. .. 3,848 12 10 1,093 8 5 Due and outstanding .. 3,222 8 1 Unclaimed contributions .. .. 1,408 5 5 7 071 0 II Amounts paid into fund in error .. 11 14 3 Interest on investments — Rent received from securities Due and outstanding .. 6,424 18 8 leased .. .. .. .. 527 7 1 Accrued, but not due .. 10,569 3 6 Reserve— 16,994 22 Eor commission payable to Interest on arrears of contribuPublic Trustee in respect to tions due and outstanding interest due or accrued .. 573 11 8 (contributors) .. .. .. 350 17 9 Eor commission to Post and Due by Consolidated Eund for Telegraph Department in re- Cost-of-living Bonus .. .. 133 2 10 spect to vouchers issued but Government Subsidyunpaid .. .. .. 41 10 0 Additional subsidy under secFor cost of actuarial examination 114, Public Service tion .. .. .. 320 0 0 Superannuation Act, 1927, 935 1 8 not yet paid .. .. 416 22 Reserve for loss on investments — Payable in respect of allowances Balance at 31st January, 1938 2,501 11 5 outstanding at 31st January, Add Reserve, 1938-39 .. 2,000 0 0 1939 .. ~ .. 107 17 5 I 523 19 7 4,501 11 5 Less interest written off, £1,767 3s. lid.; less capital written off £160 12s. 6d. 1,927 16 5 2,573 15 0 Vouchers issued but unpaid at 31st January, 1939 .. 22,456 4 5 Less cash in Post Office Account 15,486 0 5 6,970 4 0 £992,623 11 4 £992,623 11 4 | ================== Notes. Since the closing of the accounts for the year the Government has given a further subsidy on account of the loss suffered by the reduction of interest under the provisions of the National Expenditure Adjustment Act, 1932, during the year to 31st March, 1939. The amount for the period to 31st January, 1939, not included in the year's accounts, is £5,022. The liability under section 9 (2) of the National Expenditure Adjustment Act, 1932, as amended by section 25 of the Finance Act (No. 2), 1932-33, in respect to the rebate to those contributors who did not elect to continue to contribute on the higher rate of salary before the reductions in 1932 has not been taken into account in the foregoing statement. The contingent liability in this respect is estimated at £4,000. A. B. McKinnon, A.R.A.N.Z., Secretary, Teachers' Superannuation Board. 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, subject to the departmental notes enfaced thereon.—J. H. Fowler, Controller and Auditor-General.

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