B.— 1 [PT. IY]

NATIVE TRUSTEE—continued Interest Account, 1942-43 Dr. £ £ Or. _ £ Interest allocated to amounts held under — Interest on mortgage and other investments .. .. 27,407 Native Land Act, 1931 — Part 111 .. ■ • • ■ .. 5,564 Part X .. ■ ■ • • 1 , 539 Miscellaneous .. .. ■ ■ • ■ 84 Native Trustee Act, 1930 .. .. .. 477 Native Purposes Act, 1931 .. .. . • 104 Maori Purposes Fund Act, 1934-35 . . . . 1,318 Native Housing Amendment Act, 1938 . . 1,554 West Coast Settlement Reserves Act, 1892 .. 179 Miscellaneous funds .. .. • • 54 10,873 Interest on advances under — Native Land Act, 1931, section 521 .. .. 987 Post Office loan .. . . • • ■ • 677 1,604 Surplus, carried to Revenue Account .. .. .. 14,870 £27,407 Revenue Account, 1942-43 Dr. £ Or. £ Administration expenses : Contribution to Consolidated Balance from Interest Account .. .. .. 14,870 Fund .. .. •• •• 12,200 Commission .. .. .. •• 5,078 Department's portion of war-damage premiums on Fees .. . . .. .. • • • • 436 buildings subject to mortgages and charges . . 74 Net working profit on properties acquired under mortgage 761 Net profit for year carried down .. .. •. 8,871 £21,145 £21,145 __ — Overpayment to beneficiary written off as irrecoverable . . 8 Net profit for year brought down .. .. 8,871 Net surplus, transferred to Appropriation Account .. 8,888 Sundry interest adjustments in respect of previous years r (net) .. .. . ■ ■ ■ • • • • 25 £8,896 £8,896 Appropriation Account, 1942-43 Dr. £ Or. £ Donation to New Zealand Patriotic Fund .. .. 100 Balance, Ist April, 1942 .. .. •• .. 15,258 Allocation of profits for 1940-41— £ Net surplus, transferred from Revenue Account .. 8,888 Paid to Consolidated Fund (one-third) .. 2,001 Transferred to Assurance and Reserve Fund (two-thirds) .. .. .. 4,003 6,004 Balance, 31st March, 1943 .. .. .. •• 18,042 £24,146 £24,146 Balance-sheet of the Native Trustee as at 31st March, 1943 Liabilities Assets Amounts held under— £ £ Investments— £ £ Native Reserves Act, 1882 .. .. 67,632 Local bodies' securities .. .. .. 5,100 West Coast Settlement Reserves Act, 1892 46,935 Government securities .. .. .. 3,000 Native Land Act, 1931— £ Short-term investments— £ Part X .. •• •• 53,610 On fixed deposit with bank .. 35,000 Part 111 : Maori Land Boards 216,739 In Treasury bill .. .. 20,000 Special investment .. •. 350 55,000 Miscellaneous .. .. 6,668 Mortgages .. .. .. .. 397,994 277,367 Advances (on overdraft) to estates and Native Trustee Act, 1930 .. .. 37,006 accounts .. .. .. ..163,124 Native Purposes Act, 1931 .. .. 3,250 Properties acquired under mortgages .. 16,638 Maori Purposes Fund Act, 1934-35 .. 45,035 640,866 Native Housing Amendment Act, 1938 .. 80,542 Interest and rent due and accrued .. . . .. 14,179 Miscellaneous funds .. .. .. 17,362 Sundry debtors .. .. .. .. .. 10,612 575,129 Losses in Suspense .. .. .. •• 155 Sundry creditors .. .. .. •• 1,079 Farm stores on hand .. .. .. .. 9 Writings-off in Suspense .. ... .. •• 155 Cash balances Reserve against unpaid interest .. .. 1,269 In hand .. . • .. 16 Special reserve against claims .. .. 159 In transit .. .. .. 3,000 Assurance and Reserve Fund Account .. 111,740 At bank .. .. •• 14,152 Investment Fluctuation Account .. .. 1,048 At branches .. .. .. .. 25,742 Profit and Loss Appropriation Account .. 18,042 42,J10 132,258 £708,621 £708,621 O. N. Campbell, Under-Secretary and Native Trustee. M. J. Lawless, A.R.A.N.Z., Accountant. I hereby certify that the Balance-sheet and accompanying accounts have been duly examined and compared with the relative books, documents, and securities submitted for audit, and correctly state the position as disclosed thereby. -The following comment is appended : The advances made to the East Coast Maori Soldiers Fund by the Native Trustee exceed the value of the realizable assets of the fund—Cyril G. Collins, Controller and Auditor-General.

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