D—l

MAIN HIGHWAYS ACCOUNT— continued General Balance-sheet as at 31st March, 1946

Notes.—(a) No liability is included for interest on loans redeemed out of Public Debt Repayment Account. (6) The two funds, previously known as " Construction " and " Revenue " were amalgamated as from Ist April, 1936, and are now termed the " Main Highways Account," in accordance with section 3, Finance Act (No. 2), 1935. J. W. SCOTT, AH.A.N.Z., Chief Accountant, Public Works Department. F. LANGBEIN, Chairman, Main Highways Board. I hereby certify that the Income and Expenditure 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.— J. P. RUTHERFORD, Controller and Auditor-General.

40

LIABILITIES. Total. ASSETS. ' -— Total. £ £ £ £ Consolidated Fund : Interest due 1,416,297 Cash in Public Account — Sundry creditors 242,456 At call Sundry debtors Advances to local authorities (Main Highways Amendment Act, 1926, section 2) .. Motor-registration fees in hands of Postal Department Interest due and accrued Buildings and land Stocks of materials, tools, &c. Furniture, fittings, &c. — Expenditure to 31/3/46 Less depreciation to 31/3/46 927 772 17,794 26,794 22,823 40,894 828 95,157 137,208 155 Plant and equipment — For Main Highways Board — : . Expenditure to 31/3/46 649,987 Less depreciation charged to works 593,905 56,082 Purchased for local authorities — Expenditure to 31/3/46 385,637 Less repayments of principal 361,734 23,903 Excess of expenditure over income for 1945-46 535,282 . Balance at 31st March, 1945 701,833 1,237,115 £1,658,753 £1,658,753