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Statement of Accounts Revenue Account for the Year ended 31st March, 1945 Expenditure £ Income £ Retiring-allowances to members .. .. .. 562,747 Members'contributions .. .. .. 259,618 Allowances to widows and children .. .. 48,995 Members' contributions on account of casual service 17,642 Cost-of-living bontis .. .. .. .. 47,392 Fines .. .. .. .. .. .. 267 Refund of total contributions .. .. .. 42,608 Subsidies—Refund of contributions in excess of allowances drawn Consolidated Fund .. .. .. .. 110,900 by deceased beneficiaries .. .. .. 1,483 Working Railways .. .. .. .. 170,000 Transfers to other funds .. .. .. .. 1,147 Increased allowances to annuitants as provided for War damage insurance .. .. .. .. 112 by Statutes Amendment Act, 1936 .. .. 2,864 Part-cost actuarial investigation of the fund .. 202 Working Railways on account of increased allotvAdministration charges — ances to widows and children .. .. 21,118 Travelling-expenses of Board members .. .. 49 Cost-of-living bonus .. .. .. .. 47,392 Public Trust commission .. .. .. 1,113 New Zealand Railway Tradesmen's Association .. 14 Audit fee .. .. .. .. .. 50 New Zealand Engine-drivers, Firemen, and Cleaners' Salaries .. .. .. . ■ •• 1,809 Association .. .. .. .. 20 Postages .. .. .. .. .. 454 Amalgamated Society of Railway Servants .. 12 Printing and stationery .. .. .. 184 New Zealand Railway Officers' Institute .. .. 8 Interest— £ Investments .. .. .. .. 48,772 Treasury Department .. .. .. 9,055 57,827 Commission on Government Life Insurance collections 5'3 Balance carried down, being excess of expenditure over income for the year .. .. .. .. 21),610 £708,345 £708,345 £ £ Balance brought down .. .. .. .. 20,610 Accumulated funds brought forward on Ist April .. 1,151,54(3 Balance, accumulated funds as at 31st March .. 1,130,936 £1,151,546 £1,151,046 Balance-sheet as at 31st March, 1945 Liabilities ' £ Assets Accumulated funds as per Revenue Account .. 1,130,936 Investment Account— £ .'£ Casual employees'contingent contributions ... 20,332 Investments .. .. .. 1,088,481 Retiring and other allowances due (not paid) — Cash in hand .. .. .. 14,871 Members .. .. .. .. .. 1,183 1,10.3,352 Widows and children .. .. .. .. 642 Current Account— Refund of contributions authorized (not paid) .. 1,605 Cash in hand .. .. .. .. .. 14,265 Refund of contributions in excess of allowances drawn Contributions and fines in transit .. .. 18,139 by beneficiaries (not paid) .. .. .. 183 Contributions due by Army, Navy, and Air Force Transfers to other funds authorized (not paid) .. 63 Departments .. .. .. .. .. 15,862 Interest paid in advance .. .. .. .. 60 Contributions outstanding .. .. .. 1,910 Public Trustee .. .. .. .. .. 427 Contributions due by members in respect of casual Reserve for bad and doubtful debts . . .. 3,000 service .. .. .. .. .. 15,655 Rebates of contributions (National Expenditure Working Railways— Adjustment Act, 1932).. .. .. .. 34,015 On account of increased allowances to annuitants as Sundry creditors .. .. .. .. 66 provided for by Statutes Amendment Act, 1938.. 238 On account of cost-of-living bonus .. .. 2,900 On account of additional allowances to widows and children .. .. .. .. 1,794 Interest due not paid .. .. .. .. 7,036 Interest accrued but not due .. .. .. 11,329 Sundry debtors .. .. .. .. .. 32 £1,192,512 £1,192,512 R. Semple, P. H. McAuley, Chairman of the Government Railways Chief Accountant, New Zealand Railways. Superannuation Fund Board. 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.—J. P. Rutherford, Controller and Auditor-General.

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