B—l [Pt. IV]

Balance-sheet as at 31st March, 1947 Liabilities Assets £ Capital accounts: Liability to Consolidated Fund Leased land .. .. . . .. .. 88,566 under section 6, National Development Loans Unleased land .. .. .. .. .. 3,600 Act, 1941, for funds provided by— £ £ Blocks under development— Public Works Account .. .. .. 1,242,854 • Purchase-price of areas being developed, includConsolidated Fund .. .. .. 39,000 ing value of education endowment lands set £ Land for Settlements Account .. • 561,173 aside .. .. .. .. .. 457,494 War Expenses Account .. .. .. 4,842 Gross capital expenditure on development .. 2,007,227 1,847,869 Expenditure on live-stock and farm working .. 118,972 Capital reserve : Special assets taken over at book value .. 39,453 Chattels (including store buildings) .. .. 41,103 Subsidies— £ Employment Promotion Fund .. .. 497,315 2,624,796 Consolidated Fund .. .. . . 583, 002 Less value of blocks partly disposed 1,080,317 of— £ Loan from Social Security Fund .. .. .. 3,161 Unimproved value .. .. 29,239 Land donated .. .. .. .. .. 368 Improvements .. ..115,611 Land set aside for small farms : Education endowment lands 2,998 144, 850 Creditors— £ 2,479,946 Rent .. .. .. .. .. 43 Loan to Napier Harbour Board— Miscellaneous (departmental, &c.) .. .. 10,674 Ahuriri Lagoon .. .. .. .. 37,624 10,717 Accrued interest .. .. .. .. 10,367 Water Supply Account: Maintenance.. .. .. 1,682 47,991 Profits on blocks disposed of (not finalized) .. .. 1,367 Water-supply schemes : Headworks .. .. .. 14,437 Payments in advance— £ Advances to small farm occupiers— Rent .. .. .. .. .. 259 Current Account— £ Principal: Instalment mortgages .. .. 302 Improvements .. .. .. 18,960 Interest— £ Stock and chattels .. .. 34,886 Instalment mortgages .. .. 450 53,846 Share-milkers' loans .. .. 4 Instalment mortgages .. .. .. 328,815 Current Account .. .. 23 382,661 477 Advances under share-milking agreements .. .. 1,167 Water levies .. .. .. .. 17 Realization Account: Leased areas in course of realization .. 6,517 1,055 Blocks in course of disposal (not finalized) .. .. 5,009 Carried forward 2,988,987 Carried forward 3,029,894

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