H—B

Balance-sheet op the Government Life Insurance Department on 31st December, 1947 Liabilities £ Assets £ Total assurance, annuity, and endowment funds (as per Loans on policies .. .. .. .. .. 748,514 Revenue Account) .. .. .. .. .. 14,835,563 New Zealand Government securities .. .. .. 7,210,096 Claims admitted, proofs not yet completed .. .. 77,488 Loans to local bodies .. .. .. .. .. 2,723,760 Annuities .. .. .. .. .. .. 376 Landed and house property .. .. .. .. 487,520 Medical fees .. .. .. .. .. .. 329 Landed and house property (leasehold) .. .. .. 5,500 Premium and other deposits .. .. .. .. 70,767 Mortgages on property .. .. .. .. 4,042,606 Sundry creditors .. .. .. .. .. 16,718 £ Accident and Fidelity Fund .. .. .. .. 5,000 Overdue premiums on policies in force .. .. 4,688 Reserve for income-tax .. .. .. .. 90,000 Outstanding premiums due but not overdue .. 114,440 Investment Reserve Account .. .. .. .. 525,000 119,128 £ Overdue interest .. .. .. .. 2,128 Sinking funds on local-body loans .. .. 3,708 Outstanding interest due but not overdue .. 5,886 Interest accrued thereon .. .. .. 46 Interest accrued but not due .. .. .. 141, 600 3,754 149,614 Sundry debtors .. .. .. .. .. 4,882 Income-tax paid in advance .. .. .. .. 40,000 Cash in hand and on current account .. .. .. 93,375 £15,624,995 £15,624,995 H. L. Ryan, Commissioner. W. K. Watson, Secretary. Government Life Insurance Department, 22nd March, 1948. The Audit Office, having examined the Revenue Account and Balance-sheet and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith.— J. P. Rutherford, Controller and Auditor-General.

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