B—l [Pt. IV]

Liabilities £ j Assets £ Land and forest capital .. .. .. .. 36,432,639 Land taken over or purchased .. .. .. .. 1,689,441 National-development loans .. .. .. .. 3,877,439 Indigenous standing forests taken over or purchased .. 34,028,190 Advances from Consolidated Fund .. .. .. 87,405 Indigenous forest improvements (roads, tracks, protection, &c.) 6,787 Sundry creditors— Regeneration of cut-over areas (including planting) .. 63,114 Cpnsolidated Fund— £ Indigenous forests under management .. .. .. 77,424 For interest paid on loans .. .. 1,223,134 Cost of establishment of exotic forests .. .. .. 6,824,591 For loans redeemed .. .. .. 141, 554 Seed stocks .. .. .. .. .. .. 1,695 For national-endowment revenue collected Utilization plant, stocks, &c.— but not paid over .. .. .. 18,235 Whakarewarewa: Sawmill, box-factory, and £ creosoting .. .. .. .. 359,761 1,382,923 Hanmer Springs: Creosoting .. .. 5,851 On open account .. .. .. .. 47,125 Southland: Creosoting .. .. .. 14,286 1,430,048 Miscellaneous .. ~ .. .. 3,555 Reserves— 383,453 General reserves— Departmental property (indigenous forests and Indigenous forests .. .. .. 1,082,042 , general administration)— Exotic forests .. .. .. .. 941,376 Buildings .. .. .. .. .. 3,871 Utilization (sawmilling, &c.) .. .. 4,692 Field, office, and miscellaneous equipment .. 8,641 Forest atlas .. .. .. .. 2,449 2,028,110 Motor-vehicles .. .. .. .. 36,364 Fire Insurance Reserve .. .. .. 4,825 Reference library and saleable publications .. 1,377 Reserve for assets in suspense (see contra) 832 Stamps on hand .. .. .. .. 142 2,033,767 52,844 Amounts held on deposit (see contra) .. .. .. 9,150 Sundry debtors on open account .. .. .. 143,395 Net interest payable capitalized but not charged against specific assets .. .. .. .. .. 576,910 Assets in suspense (see contra) .. .. .. .. 832 Cash held in deposit (see contra).. .. .. .. 9,150 Cash in Public Account and outstanding imprests .. .. 12,622 £43,870,448 £43,870,448

Notes.—(1) Land and indigenous forests, other than areas purchased, have been valued as follows : prairie value, ss. per acre ; protection, £1 per acre; merchantable forests, £lO per acre; accretions during the year have been brought into the accounts at the prairie value of ss. per acre. (2) Cost of establishment of exotic forests has been arrived at on the basis of expenditure less receipts to date plus compound interest to 31st March, 1940, only. (3) The liability for advances from Consolidated Fund is fixed by section 21 of the Finance Act, 1926, section 3 of the Finance Act, 1926, and section 3 of the Finance Act, 1927, at £104,250. £87,405 3s. 4d. only is shown as a liability of this account, £16,844 16s. Bd., representing the expenditure on 'sand-dune reclamation, having been transferred without statutory authority to the Crown Lands Account. Alex. R. Entrican, Director of Forestry. R. J. Wells, Accountant. I hereby certify that the Working Accounts, Profit and Loss Account, 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 departmental notes enfaced thereon and to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return B-l [Pt. IV],— J. P. Rutherford, Controller and Auditor- General.

Balance-sheet as at 31st March, 1945

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