B—l [Pt. IV]

SMALL FARMS SCHEME— continued COMBINED SECTIONS— continued Balance-sheet as at 31st March, 1947 Liabilities Assets £ Capital accounts: Liability to Consolidated Fund Leased land .. .. .. .. 414,341 under section 6, National Development Loans Unleased land .. .. . . .. .. 3 5 600 Act, 1941, for funds provided by— £ £ Blocks under development— Public Works Account .. .. 2,130,004 Purchase-price of areas being developed, includLand for Settlements Account .. 4,964,397 ing value of education endowment land set £ Consolidated Fund .. .. .. 39,000 aside .. ~ .. ~ . . 3,965, 098 War Expenses Account .. .. .. 4,842 Gross capital expenditure on development .. 3,254,750 7,138,243 Expenditure on live-stock and farm working .. 902,914 Capital reserve: Special assets taken over at book value .. 39,453 Chattels (including store buildings) .. .. 223,782 Reserve for losses on development of land for £ ex-servicemen .. .. .. 450,000 8,346,544 Less losses recovered .. .. .. 13,316 Less value of blocks partly disposed 436,684 J of— £ Subsidies— ! Unimproved value .. .. 154,632 Employment Promotion Fund .. 504,294 • Improvements .. .. 498,708 Consolidated Fund .. .. .. 595, 608 653, 340 1,099,902 7,693,204 Loan from Social Security Fund .. .. .. 3,161 Compensation for land taken (recoverable on selection) .. 74^411 Land donated .. .. .. .. .. 368 Loan to Napier Harbour Board— £ Land set aside for small farms : Education endowment lands.. 16,035 Ahuriri Lagoon .. .. .. .. 37,624 Creditors— £ Accrued interest .. .. .. .. 10,367 Rent .. .. .. .. .. 43 47,991 Miscellaneous (departmental, &c.) .. .. 34,336 Water-supply schemes: Headworks .. .. .. 24,167 34,379 Advances to small farm occupiers— Water Supply Account: Maintenance .. .. .. 1,666 | Current Account— £ Profit on blocks disposed of (not finalized) .. .. 74,387 j Improvements .. .. .. 19,004 Payments in advance— £ j Stock and chattels .. .. 34,729 Rent .. .. .. .. .. 338 53,733 Principal: Instalment mortgages .. .. 302 j Instalment mortgages .. .. . . 331, 197 Interest— £ j 384,930 Instalment mortgages .. .. 450 j Advances under share-milkers' agreements . . . . 1,167 Share-milkers' loans .... 4 i Dairy company shares .. .. .. ~ 931 Current Account .. 23 Lime company shares .. .. .. .. 20 477 £ Water levies .. .. .. .. 17 Deposits held by dairy companies .. .. 2,207 1,134 Less reserve .. .. .. .. 477 Accrued interest on capital on blocks being developed .. 514, 956 I X, 730

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