B—l [Pt. IV]

Balance-sheet as at 31st March, 1947 Liabilities £ Assets £ £ Loan capital: Land for Settlements Account .. .. 150,739 Plant, tools, and equipment .. .. .. 6,661 Liability to Consolidated Fund for interest .. .. .. 5,779 Less depreciation reserve .. .. .. 941 Grant from Consolidated Fund .. .. .. .. 2,775 5,720 Sundry creditors .. .. .. .. .. .. '16,059 ■ Land, buildings, roads, &c. .. .. .. 7,443 Writings -off in Suspense .. .. .. .. .. 328 Less depreciation reserve .. .. .. 360 £ 7,083 Stocktaking Suspense: Surpluses .. .. .. 146 Motor-vehicles .. .. .. .. .. 1,931 Less deficiencies .. .. .. .. 123 Less depreciation reserve .. .. .. 219 23 1,712 Timber, stores, and materials .. .. .. ..32,874 Buildings under construction (503) .. ... .. .. 101,016 Sundry debtors .. . . . . .. .. .. 22,185 Administration charge accrued . . . . . . . . 4,623 Losses in Suspense .. .. .. .. .. 328 Accumulated Revenue Account .. .. .. .. 162 £175,703 £175,703 Note.—Administration expenses are paid from Consolidated Fund, vote " Maori Affairs," and are not debited to the Revenue Account herein. A charge of 2J per cent, is levied against completed jobs and buildings under construction and refers partly to administration costs. GL P. Shepherd, Under-Secretary. M. J. Lawless, A.R.A.N.Z., Chief 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 the commencement of parliamentary return B-l [Pt. IV].— J. P. Rutherford, Controller and Auditor-General.

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