B.—l. [Pt. ll].

PUBLIC ACCOUNTS FOR THE FINANCIAL YEAR ENDED 31st MARCH, 1941.

REPORT OF THE CONTROLLER AND AUDITOR-GENERAL.

I have the honour to submit my report for the year ended 31st March, 1941, in terms of subsections (2), (3), and (4) of section 89 of the Public Revenues Act, 1926. The full Statement of the Receipts and Payments of the Public Account is contained in two parliamentary papers —namely, (1) 8.-l [Pt. I], which shows, under main headings, the receipts and payments of the funds and accounts comprising the Public Account, and also shows details of the expenditure under the annual appropriations, Civil List, and the Unauthorized Expenditure Account; and (2) 8.-l [Pt. ll], which shows certain of the receipts and payments in greater detail than they are shown in 8.-l [Pt. I]. As the last-mentioned paper for 1940-41 has already been laid before Parliament, it only remains necessary for me now to present Part 11. Repayment of the Public Debt. The following table gives particulars of the amount of securities redeemed during the year under the provisions of the Repayment of the Public Debt Act, 1925, and also the total of the amount as redeemed to 31st March, 1941 : —

The Public Debt Repayment Account opened with a credit balance of £.17,422 18s. 3d. Transfers from the Consolidated Fund in terms of the Repayment of the Public Debt Act, 1925, amounted to £2,074,062 4s. lOd. Securities valued at £1,178,227 10s., as shown above, were redeemed, leaving a balance at 31st March of £913,257 13s. Id. available for further redemptions.

Nominal Value of Securities, „ , - - , Total to Total Cost of Rate of Interest. 3 lst March, 1940. T . . . Redemptions. Year 1940-41. 8 lrt2SL 19*1. Percent. £ s. d. £ s. d. £ s. d. £ s. d. 1£ .. .. .. 459,417 10 0 459,417 10 0 459,417 10 0 2| .. .. 5,000 0 0 .. 5,000 0 0 5,000 0 0 2§ .. .. .. 199,200 0 0 199,200 0 0 199,200 0 0 3 .. .. 3,838,168 14 8 .. 3,838,168 14 8 3,838,168 14 8 3 J ., .. .. 500,000 0 0 500,000 0 0 500,000 0 0 3$ .. .. 481,001 8 8 .. 481,001 8 8 481,001 8 8 3f .. .. 170,376 7 4 .. 170,376 7 4 170,376 7 4 4 .. .. 3,108,653 5 6 19,410 0 0 3,128,063 5 6 3,116,375 14 7 4| .. .. 2,087,460 0 0 .. 2,087,460 0 0 2,072,082 5 0 5" .. .. 5,423,735 0 0 .. 5,423,735 0 0 5,423,181 5 0 5| .. .. 1,530,990 0 0 .. 1,530,990 0 0 1,530,972 10 0 b\ .. .. 1,033,110 0 0 200 0 0 1,033,310 0 0 1,030,894 12 2 6 .. .. 2,633,588 9 9 .. 2,633,588 9 9 2,612,292 8 8 20,312,083 5 11 1,178,227 10 0 21,490,310 15 11 21., 438,962 16 1* * This figure does not include cost of exchange on remittances.