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J. R. Deal, Treasurer. The Audit Office, having examined the Balance-sheet and accompanying accounts required by law to be audited, hereby certifies them to be correct.— J. P. Rutherford, Controller and Auditor-General. Approximate Cost of Paper.—Preparation, not given; printing (803 copies, £341108.)

Balance-sheet as at 31st March, 1948

By Authority: E. Y. Paul, Government Printer, Wellington.— 1948.

Price 6d.]

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(Figures to nearest pound) Liabilities. 1047-48. j 1946-47. Assets. 1947-48. 1946-47. £ £ £ j Land, buildings, improvements — & £ £ Capital: Balance at beginning of period .. 346,697 1 Land.. .. .. ■■ •• 30,000 Add— Buildings 195 'fi* Capital purchases from revenue .. 1,504 Approach steps and terraces .. .. 4,300 Capital purchases from reserves .. 136 Ground improvements .. .. .. 348,337 346,697 Floodlights 482 Sundry creditors .. .. .. .. 283 129 236,481 236,481 Special reserves — .. Exhibits — Art Gallery and Museum Rehabilitation 3,500 Museum .. .. •• •• 51,993 Reserve Art Gallery .. .. .. •• 33,554 OK aA „ Q Art Gallery Special Purposes Reserve .. 1,050 85,047 S Beauchamp Trust Reserve .. .. 1,547 Furnishings and equipmentBuildings Fund Reserve .. .. 336 Cinematograph equipment 722 Centennial Art Exhibition Reserve .. 610 Furnishings .. .. .. •• 19 >291 Educational Purposes Reserve — Library .. .. .. •• 2,738 Art Gallery .. .. .. .. 3,750 Mechanical appliances .. .. .. 208 Museum .. .. .. .. 2,467 Miscellaneous equipment .. .. 979 Elgar Legacy Reserve .. .. .. 25 Photographic apparatus .. .. 980 Museum Exhibits Purchase Reserve .. 2,445 Scientific apparatus .. .. .. 294 Picture Purchase Reserve — Tea-room equipment .. .. .. 696 General .. .. .. .. 1,144 Tools .. .. •• •• 400 Macarthy Trust ...... 157 ids Repairs, Renewals, and Extensions Reserve.. 12,750 Publications (stock) .. .. •• •• XMd 29,781 24,818 Restoration of Building Suspense Account .. .. 346 Centennial Art Exhibition Suspense Account .. 126 296 Sundry debtors .. .. .. .. • • Accumulated surplus — Investments — „ ... , General .. .. .. .. .. 146 174 Deposit with Public Trustee .. .. .. 11,143 Tea-rooms .. .. .. .. .. 75 75 National Savings account .. .. .. 2,197 i'kin New Zealand Government stock.. .. .. 7,000 7,000 Fixed deposit: Bank of New Zealand .. .. *®>922 '222 Deposit: Post Office Savings-bank .. .. 577 563 Imprest accounts .. .. •• •• *4 24 Cash in hand and in bank (less unpresented .. 5,675 o,iuu £378,748 £372,189 chc q uc0 ) £378,748 £372,189