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Note.—Unopened lines are under the control of the Public Works Department, and all expenditure out of the Public Works Account in connection therewith is included in the accounts of that Department. General Balance-sheet as at 31st March, 1943 Liabilities Assets Sundry creditors— £ £ £ General (including unpaid wages) .. 1,429, 893 Sawmills, bush areas, and stocks of timber .. 11 1,297 Accrued interest on capital .. 122,713 Stores and materials on hand— £ 1,552, 606 Stores Branch .. .. 1,906, 545 Collections for refund .. .. .. 40,395 Subsidiary services .. .. .. 29,747 Items to be written oif on receipt of * 1,936,292 parliamentary authority .. .. .. 5,021 Sundry assets: Subsidiary services .. .. 59,223 Renewals, Depreciation and Equalization Work in progress, sundry debtors, and debit Reserve Accounts as per Statement balances .. .. .. .. .. 315,842 No. 13 .. .. .. .. .. 4,262,931 Advance to capital .. .. .. .. 354 Sick Benefit Fund .. .. .. .. 18,038 Accrued interest on investments .. .. 3,725 Net Revenue Account .. .. .. 203,867 Outstanding at stations .. .. .. 804,460 Working Railways investments .. .. 1,400,000 Sick Benefit Fund investments.. .. .. 13,251 Cash in Working Railways Account .. .. 1,438,414 £6,082,858 £6,082,858

STATEMENT No. 1 Capital Account as at 31st March, 1943

I hereby certify that the Balance-sheet and accompanying accounts have been duly examined and compared with the relative books and documents submitted for audit, and correctly set out the position as disclosed thereby, subject to the above departmental note.— Cyril G. Collins, Controller and Auditor-General.

W. Bishop, A.R.A.N.Z., Chief Accountant.

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! Total to 31st March, Year ended ! Total to 31st March, ! 1 Total to 31st March, Year ended Total to 31st Maroh, I 1942. 31st March, 1943. 1943. j 1942. 31st March, 1943. j 1943. I i I 11 j | Expenditure £ £ £ j Receipts £ £ £ Permanent-way —Works, buildings, ma- 56,797,989 3,814,135 60,612,124 Capital included in public debt .. 66,270,118 3,776,674 70,046,792 chinery, plant, and dwellings Other capital .. ,. .. 9,033,902 .. I 9'033 ',902 Rolling-stock, lake steamers, and road 15,864,380 Cr. 159,162 15,705,218 motors j { 75,304,020 3,776,674 79,080,694 lines closed for traffic .. .. j 362,662 ■ Cr. 230,583 132,079 j Deduct accrued depreciation and 10,400,000 | .. 10,400,000 ; other losses of capital written off 73,025,031 3,424,390 76,449,421 in accordance with subsection (2), Deduct accrued depreciation on exist- 9,554,963 176,008 9,730,971 : section 23, of the Government ing assets Railways Amendment Act, 1931 63,470,068 3,248,382 66,718,450 | Add unexpended balances as per ; 1,433,952 532,661 1,966,613 ] 64,904,020 3,776,674 68,680,694 Depreciation Account Outstanding liabilities .. .. .. 4,369 ' 4^369 £64,904,020 £3,781,043 £68,685,063 | £64,904,020 £3,781,043 £68,685,063