B—l [Pt. IV]

/ Balance-sheet as at 31st March, 1948 Liabilities £ Assets £ Loan capital: Land for Settlements Account .. .. 134,029 • Stores and store sheds .. .. .. .. 64 330 Liability to Consolidated Fund for interest on capital. . .. 11,474 Timber-yards 7'864 Grant from Consolidated Fund .. .. .. .. 1,938 Factory works !! !! '' " " 4 ' 410 Sundry creditors .. .. .. .. .. 3,497 Motor-vehicles .... i' qkr Stocktaking Suspense : Surplus .. .. .. .. 169 ' Writings-off in Suspense .. .. .. ~ ~ 99] Plant and equipment .. .. .. .. 9,199 Less Depreciation Reserve .. .. .. l, 731 7,468 Buildings under construction (797) .. .. .. .. 56,494 Sundry debtors . . . . .. , . . , ~ 6' 535 Suspense Account . . . . . . . . . . '45 Losses in Suspense .. .. .. .. ~ 99 1 Accumulated Revenue Account— £ Balance, Ist April, 1947 .. .. 162 Less adjustments .. .. . . 91 7l Add loss for 1947-48 .. .. .. .. 1,934 ! 2,005 £152,098 j £152,098 Notes.— (a) Administration expenses are paid from Consolidated Fund, vote " Maori Affairs," and are not debited to the Revenue Account herein. A charge of _- 2 - per cent, is levied against completed jobs and buildings under construction and refers partly to administration costs, (b) The above Kevenue Account includes profits and losses relating to the operation of stores and store sheds, timber-yards, factory works, and motor-vehicles. Subaccounts are produced in connection with such operations, and the items appearing in the above Balance-sheet represent the excess of assets over liabilities m ,. , sub-accounts. Depreciation on the assets of each of these activities has been written off as a charge against the Profit and Loss Accounts of each activity, ihe item ' Plant and.equipment " covers assets which cannot conveniently be grouped under the other four headings. T. T. Ropiha, 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 enfaeed 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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