8.-—1 [PT. TV

NATIVE DEPARTMENT—continued NATIVE LA NT) DEVELOPMENT AND SETTLEMENT Interest Account for the Year ended 31st March, 1944 Dr. £ Cr. Interest on loan capital .. .. .. ' 85,931 Interest on amounts under Part I, Native Land £ £ Interest on advance from Consolidated Fund under section Amendment Act, 1936 — 8, Finance Act, 1929 .. ... .. .. 72 Expended on development schemes.. .. 38,070 Interest on settlers'credit balances .. .. .. 147 Advanced to settlers .. ■.. .. 49,096 Amount transferred to Revenue Account .. .. 1,382 — 87,172 Interest on advances under— Section 340, Native Land Act, 1931 (Maori Land Board) .. .. .. .. 21 Section 48, Native Land Amendment Act, 1936 (Native settlers) .. .. .. 323 Oturei mortgage .. .. .. .. 16 —: 300 £87,532 £87,532 Revenue Account for the Year ended 31st March, 1944 Dr. £ Cr. £ Amount transferred to Net Revenue Account .. .. 44,659 Amount transferred from Interest Account .. .. 1,382 Administration charge .. .. .. .. 75 Stores on cost and insurance rebates .. .. .. 8,763 Departmental charge on amounts — £ Expended on development schemes.. .. 14,297 Advanced to settlers .. .. .. 20,142 34,439 £44,659 £44,659 Net Revenue Account for the Year ended 31st March, 1944 Dr. £ £ Cr. . £ Amounts compounded, inception to 30th June, Balance, Ist April, 1943 .. .. ~ .. 167,106 1942 — Amount transferred from Revenue Account .. .. 44,659 Interest.. .. .. .. .. 4,127 Adjustment of loan capital .. .. .. .. 5 Departmental charge .. .. .. 403 Previous year's profit: On cost and insurance rebates .. 13,558 4,530 Amounts written offAdvances to settlers .. .. .. 1,019 Advances to Maori Land Boards .. .. 38 1,057 Balance, 31st March, 1944 .. .. .. .. 219,741 £225,328 £225,328 Balance-sheet as at 31st March, 1944 Liabilities Assets Loan capital— £ £ Development and settlementPublic Works Fund .. .. .. 2,215,351 Development schemes — £ £ Less redemption of capital .. 2,808 Expenditure .. .. .. 983,980 Crown lands not paid for .. .. 9,445 2,212,543 Land for Settlements Account Dr. 82,640 993,425 2,129,903 Unrecouped and accrued interest .. 155,126 Liability to Consolidated Fund— Unrecouped and accrued Departmental Advance under section 8, Finance Act, charge .. .. .. 24,177 1929: Principal.. .. .. 1,800 — — Interest on loan capital .. .. 76,115 1,172,728 —— 77,915 Settled holdings .. .. .. 1,260,146 Sundry creditors-— Advances under section 48, Native Employment promotion grant Land Amendment Act, 1930, unexpended .. .. .. 3,122 including accrued interest .. .. 0,781 Lands and Survey Department .. 9,445 2,439,055 Sundry .. .. .. .. 102 Advances (including accrued interest) — 12,069 Maori Land Boards under section 340 Writings off in Suspense .. .. 23,119 Native Land Act, 1931 . , .. 522 Net Revenue Account— Oturei Block .. .. .. 51 Balance, Ist April, 1943 .. .. 107,100 •— 573 Add net increase, 1943-44, including Losses in Suspense .. .. .. .. 23,119 adjustments for previous years .. 52,035 —— 219,741 £2,463,347 £2,463,347 Notes. —(1) Expenditure from employment promotion grants on development schemes since inception, amounting to £1,807,257, 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 lias been partly estimated and may be subject to amendments. G. P. Shepherd, Under-Secretary. M. J. Lawless, A.R.A.N.Z., 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 departmental notes enfaced thereon and to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return 8.-l [Pt. IV], and to the following comments : (1) the loading of the various schemes for administration 1 expenses is not sufficient to cover the full cost; (2) moneys expended out of the " Surveys of Native Land Account " on Native land development schemes have not been recouped. (3) in the opinion of the Audit Office, expenditure from the Public Works Fund on 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, —J. P, Rutherford, Deputy Controller and Auditor-General.

23