B.—l [Pt. IV

NATIVE DEPARTMENT—conUtiued NATIVE LAND DEVELOPMENT AND SETTLEMENT Interest Account for the Year ended 31st March, 1943 Dr. £ Cr. £ £ Interest on loan capital .. .. .. .. 87,488 Interest on amounts under Bart I, Native Land Interest on advance from Consolidated Fund under Amendment Act, 1936— section 8, Finance Act, 1929 .. .. .. 72 Expended on development schemes .. 43,303 Interest on settlers'credit balances .. .. .. 127 Advanced to settlers .. .. .. 50,215 Amount transferred to Revenue Account .. .. 7,174 93,518 Interest on advances under— Soction 340, Native Land Act, 1931. (Maori Land Board) .. . . . . .. 24 Section 521, Native Land Act, 1931 (Native Trustee) .. . . .. . . 987 Section 48, Native Land Amendment Act, 1936 (Native settlers) .. .. .. 325 Oturei mortgage .. . . .. 7 1,343 £94,861 £94,861 Revenue Account for the Year ended 31st March, 1943 Dr. £ Cr. £ Depreciation: Surveyors'equipment .. .. 24 Amount transferred from Interest Account .. .. 7,174 Amount transferred to Net Revenue Account .. .. 45,331 Administration charge .. .. .. .. 94 Stores on cost and insurance rebates .. .. 1,334 Departmental charge on amounts — £ Expended on development schemes .. 16,470 Advanced to settlers .. .. 20,283 36,753 £45,355 £45,355 Net Revenue Account for the Year ended 3Jst March, 1943 Dr. £ £ Or. £ Amounts compounded, inception to 30th June, Balance, Ist April, 1942 .. .. .. 139,320 1942— Amount transferred from Revenue Account .. .. 45,331 Interest .. .. .. .. 37,226 Administration and supervision charges, previous years 1,650 Departmental charge .. .. .. 3,231 Interest adjusted and written back on loans, previous 40,457 years .. .. .. .. 1,687 Amounts written off— Previous year's profits— £ Interest on advances to Maori Land Boards 1,666 Bulk purchases, &c. (net).. .. .. 734 Surveying equipment .. .. .. • 9 Bush scheme .. .. .. ~ 4,519 1,675 On cost and insurance rebates .. 15,997 Balance, 31st March, 1943 .. .. 167,106 21,250 £209,238 £209,238 Balance-sheet as at 31st March, 1943 Liabilities £ £ Assets Loan capital .. .. .. 2,163,937 Development and settlement— Less redemption on account of advances Development schemes — £ £ £ written off .. .. .. 2,808 Expenditure .. .. 1,045,023 — 2,161,129 Unrecouped interest .. 105,740 Liability to Consolidated Fund— Unrecouped departmental Advance under section 8, Finance Act, charge .. .. 5,690 1929: Principal .. .. .. 1,800 1,156,453 Interest on loan capital .. .. 73,516 Settled holdings .. 1,269,266 75,316 Creditor: Employment-promotion grant unexpended 30,700 2,425,719 Writings off in Suspense .. . . .. . , 47,274 Advances under section 48, Native Land Net Revenue Account— Amendment Act, 1936, including Balance, Ist April, 1942 .. .. 139,320 accrued interest .. .. . . 7,478 Add net increase, 1942-43, including 2 433 197 adjustments for previous years .. 27,786 Advances (including accrued interest) — 167,106 Maori Land Boards, under section 340, Native Land Act, 1931 .. 3,384 Less amount written off 2,808 576 Oturei Blocks . . . . 275 Outstanding instalments (principal and interest) .. . . . . 75 926 Administration equipment .. .. .. 128 Losses in Suspense .. . . .. .. 47,274 £2.481,525 £2^481^525 Notes. —(1) Expenditure from employment-promotion grants on development schemes since inception, amounting to £1,655,533, is not included in the development and settlement expenditure above ; (2) administration expenses have been paid from Consolidated Fund, vote " Native," since Ist April, 1936, prior to when the salaries and expenses of the field supervisors were paid from vote " Native Land Settlement " and were debited in those years to the Revenue Account; (3) the adjustment in the Revenue Account relating to amounts compounded has been partly estimated and may be subject to amendment. O. N. Campbell, Under-Secretary. M. J. Lawless, A.R.A.N.Z., Accountant. 1 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 and to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return 8.-l [Ft. IV], and to the following comments : (1) the loading of the various schemes for administration expenses is not sufficient to cover the full cost; (2) moneys expended out of the " Surveys of Native Land Account " 011 Native-land-development schemes have not been recouped ; (3) in the opinion of the Audit Office, expenditure from the Public Works Fund 011 Native-land-development areas incurred prior to the assumption of control by the Native Department and included in the Crown Lands Balance-sheet should be reflected in the accounts of the Native-land-development schemes.-—Cyril G. Collins, Controller and Auditor-General.

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