B—l [Pt. IV]

Balance-sheet as at 31st March, 1948 Liabilities £ Assets Special Maori Housing Fund 216,819 ! Land not yet built on— £ £ Deposits against advances (117) 1.1,039 Purchased .... 397 Credit balances m loan accounts (22) .. .. . , 228 Donated '' ' ' 2^ Sundry creditors .. .. ........ 52 " " " " "" _ 422 Suspense .. .. .. .. ~ ] Huts : Temporary accommodation (4) .. .. .. 252 Rented properties (14)— £ Acquisition of land and improvements . . 669 Erection of cottages .. .. .. 4,832 5,501 Less Depreciation Reserve .. .. .. 864 4,657 Loans to Maoris (486)— Principal .. .. .. .. .. 142,720 Interest outstanding .. .. .. .. 196 142,916 Sundry debtors .. .. .. .. .. ~ 106 Cash balances on deposit with— Maori Trustee .. .. .. .. .. 75,151 Maori Land Boards .. .. . . .. 4^655 7 9,806 £228,139 £228,139 • ExPL f A f5 r(^ Y Notes.— (a> To enable the Board of Maori Affairs to exercise fully its powers and functions in respect of Maoris who, in the opinion of the Board, are unable to furnish the, security under the Maori Housing Act and for the purpose of assisting the more urgent and necessitous cases, a Special Maori Housing Fund has been established by section 18, Maori Housing Amendment Act, 1938, consisting of grants totalling £168,264 winch, together with interest earned and other revenue is held by the Maori Trustee for disbursement through the Maori Land Boards as directed by the Board of Maori Affairs. All interest, repayments of principal, rents, and other accumulations belong to the Fund and may be utilized in granting advances for housing purposes. (b) Labour subsidies are not recorded in these accounts. & & T. T. Ropiha, Under-Secretary. M. J. Lawless, Chief Accountant, A.R.A.N.Z. I hereby certify that the Statement of Receipts and Payments, Income and Expenditure 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.— J. P. Rutherford, Controller and Auditor-General.

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