B.—l [Pt. IV

LAND FOR SETTLEMENTS ACCOUNT—continued Balance-sheet as at 31st March, 1943 Liabilities Assets General General £ Capital— £ £ Cash and investments in the Public Account .. 1,120,070 Loans .. .. .. .. 8,051,632 Investment in Public Debt Redemption Fund .. 405,033 Crown land included in estates .. 211,940 Consolidated Fund: For interest on investments in Cheviot Estate Account (see subsidiary Public Account .. .. .. .. 4,707 accounts attached) . . .. 308,934 Premium on loan con version : Balance not yet written Sales of Crown land under section 20, off .. . . .. .. . . . . 7,800 Land Act, 1924 .. .. 2,965,862 Losses in Suspense .. .. .. .. 3,926 Capital transferred from Discharged Revenue Account: Loss to 31st March, 1943 .. 200,750 Soldiers Settlement Account .. 4,789 Cash referring to other Depart- Estates ments and funds — £ Land—• £ Hauraki Plains Account .. 2,873 Leased .. .. .. .. 8,907,339 Lands and Survey Depart- Unleased .. .. 77,455 ment Account ..89 ' ■ 8,984,794 Small Farms Account .. 10,892 Provisional State forest .. .. .. 3,158 Survey Liens Account .. 1,748 Building and improvements (unsold) .. .. 7,324 Swamp Drainage Account 402 Advances on mortgage (section 35, Finance Act, 1940) 160 Native Land Development Sales debtors— Account .. .. 39,023 Buildings, &c. .. .. .. 83,132 Native Housing Act, 1935, Land .. .. .. .. 482,227 Account .. .. 9,070 505,359 04,103 Plant and machinery .. .. 3,835 11,007,220 Less depreciation .. .. .. 3,451 Deposits by lessees (section 208, Land Act, 1924) .. 31,232 384 Consolidated Fund : For interest due — Loading on Otago University Endowment leases : On loan capital .. .. .. 504,192 Capital .. .. .. .. .. 1,208 On value of Crown land in estates .. 8,478 Debtors for— On accumulated funds of Cheviot Royalties, rent, instalments, &c. .. 07,843 Estate .. .. .. 18,573 Postponed charges .. .. 1.4,780 On funds of other Departments and Departmental and miscellaneous .. 229 accounts .. .. .. 1,283 — 82,858 532,526 Interest accrued but not due .. .. .. 0,288 Reserve for losses on assets transferred from Discharged Soldiers Settlement Account .. .. 8,191 Land-development Writings-off in Suspense .. .. .. 3,920 Land— Hutt Valley Land Settlement Account (see subsidiary Leased .. .. .. .. 108,377 accounts attached) .. .. .. .. 4,122 Unleased .. .. .. 11,610 Sundry miscellaneous creditors .. .. .. 450 119,987 Sales debtors— Estates Buildings .. .. .. 1,021 Rents and interest charged in advance .. .. 97,709 Land .. .. .. .. 23,783 Payments in advance: Rents and instalments .. 7,000 — 24,804 Sundry suspense accounts .. .. .. 1,003 Water-supply: Headworks .. .. .. 2,877 Sundry creditors: Departmental and Miscellaneous 1,050 Mortgage outstandings (not yet payable) — Current Account .. .. .. 90,910 Land-development Instalment mortgage .. .. 121,104 Land set aside (section 8, Land Laws Amendment Act, 212,014 1929) — Crown and settlement land under development .. 280,378 Areas under development— £ Expenditure on development of Crown Crown lands . . .. .. 30,458 and settlement lands — Primary education endowments . . 950 Improvements .. .. .. 302,024 Settled areas— Chattels .. .. .. .. 18,150 Crown lands .. .. .. 44,973 Seasonal and live-stock .. .. 42,762 Primary education endowments .. 178 . 302 ,930 ——— 70,559 Sundry debtors for— Rents and interest charged in advance .. .. 1,251 Rents, instalments, water levies, &e. 0,731 Payments in advance: Rents and instalments .. 1,500 Postponed charges .. .. 77 Free capital from— Departmental and miscellaneous .. 5,135 Employment Promotion Fund . . 23,250 — 11,943 Consolidated Fund . . . . 20,143 Losses (not yet finalized) on disposal of blocks .. 3,828 49,393 Realization Account .. .. . . .. 6,854 Accrued interest on capital expenditure .. .. 106,964 Deposits held by dairy companies .. .. 748 Suspense Account .. .. .. .. 118 Unrecouped interest on development expenditure .. 100,904 Reserves in respect of deposits held by dairy companies 154 Interest accrued but not due .. .. .. 1,848 Sundry creditors : Departmental and miscellaneous 2,007 Deteriorated Land Act, 1925 Deteriorated Land Act, 1925 Mortgage outstandings— Payments in advance : Interest, &c. .. .. 7 Current Account .. .. 671 Suspense Account .. .. .. .. 09 Instalment mortgage .. .. 3,780 —— 4,457 Sundry debtors for — Interest and principal instalments .. 142 Postponed charges .. .. 20 102 Interest accrued but not due .. .. . . 20 £12,533,717 £12,533,717 R. G. Maomorran, Under-Secretary for Lands. G. I. Beeson, Chief Accountant. 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 explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return 8.-l [Pt. IV] and to the following comment: the Cheviot Estate accounts do not include a credit for interest on assets comprising cash and certain, securities held by the estate at Ist April, 1930, nor a debit in respect of interest thereon paid to the Consolidated Fund in terms of section 19 of the Finance Act (No. 2), 1930. These entries have been passed through the Land for Settlements Account (General) only.—Cyril G. Collins, Controller and Auditor-General,

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