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RESERVE BANK OF NEW ZEALAND Profit and Loss Account fob the Yeae ended 31st March, 1945 Dr. £ s. d. Gr. £ s. d. General charges, including salaries, Balance of profit after making prorent, cost of note issue, and other vision for rebate on Treasury bills expenses . . .. .. 244,446 11 2 not yet due, and for sundry liaBtaff Superannuation and Provident bilities and contingencies .. 805,132 17 6 Fund .. .. .. 11,000 0 0 Balance, being profit for year .. 549,686 6 4 £805,132 17 6 £805,132 17 6 Profit and Loss Appropriation Account D r , £ s. d. Cr. £ s. d. Payments to New Zealand Government Balance as at Ist April, 1944 .. 476,473 6 10 in terms of section 36 of Reserve Balance from Profit and Loss Account 549,686 6 4 Bank of New Zealand Act, 1933 .. 470,473 610 Balance .. ... 549,686 6 4 £1,026,109 13 2 £1,026,159 13 2 Balance-sheet as at 31st March, 1945 Liabilities £ s. d. Assets £ s. <1. General Reserve Fund .. 1,500,000 0 0 Gold (at face value) .. .. 2,801,877 10 0 Banknotes .. .. 40,201,306 0 0 Sterling exchange .. .. 48,124,989 7 0 Demand liabilities— Subsidiary coin .. .. .. 32,751 2 3 i a ) State .. •• 15,586,028 8 3 Advances to the State or State under(6) Banks .. .. 32,709,447 0 3 takings— (c) Other .. ■■ •• 1,202,102 9 9 (1) Marketing Department .. 1,216,076 711 Liabilities in currencies other than New (2) For other purposes .. .. 27,000,000 0 0 Zealand currency ' ■■ 13,349 9 6 Investments .. .. .. 12,967,898 I 3 Other accounts .. 1,999,004 4 0 Other assets .. .. .. 1,617,331 9 8 Profit and Loss Appropriation Account 549,686 6 4 N.B.—Holdings of sterling have been converted into New Zealand currency at the rate of £100 sterling equals £124(N.Z.). £93,760,923 18 1 £93,700,923 18 1 W. F. L. Ward, Governor. E. C. Fussell, Deputy Governor. W. R. Eggers, Chief Accountant. Auditors' Certificate and Report.- -We have audited the balance-sheet as at 31st March, 1945, above set forth and have obtained all the information and explanations we have required. We have accepted the certificate of the Bank of England as to assets held on account of the Reserve Bank of New Zealand. In our opinion the balance-sheet is properly drawn up so as to exhibit a true and correct view of the state of the affairs of the Bank as at 31st March, 1945, according to the best of our information and the explanations given to us and as shown by the books of the Bank. ° HNSToN '"rPublic Accountants, Auditors, J. L. Griffin, J Wellington, New Zealand, 29th June, 1945. Approximate Cost of Paper.—Preparation, not given ; printing (flfiO copies), £18

By Authority: E. V. Paul, Government Printer, Wellington. —1945.

Price 6d.\

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