FRIENDS OF THE TURNBULL LIBRARY

Turnbull Library Record, Volume 11, Issue 1, 1 May 1978, Page 60

FRIENDS OF THE TURNBULL LIBRARY

Balance Sheet as at 31 March 1977

19 77 1976 $ $ ACCUMULATED FUNDS Balance at 1 April 1976 6164.33 5761 Surplus for Year 879.19 124 Hugh Walpole Endowment transferred to General Funds 7043.52 6164 Represented by: ASSETS Cash on Hand Cash at Bank 2131.77 1125 Post Office Savings Bank 2254.96 2115 Stock on Hand 1215.79 1680 5602.52 4936 INVESTMENTS Perpetual Trustees 1000.00 1000 Taranaki Harbour Board Stock (at cost nominal value $1000) 952.50 953 1952.50 1953 7555.02 6889 LESS LIABILITIES Sundry Creditors 57.00 Subscriptions Received in Advance 40.00 97.00 310 LIFE MEMBERSHIP RESERVE 414.50 415 511.50 725 $7043.52 $6164

Statement of Income & Expenditure for year ended 31 March 1977

1977 1976 $ $ INCOME Subscriptions 4913.25 2562 Profit on Sale of Publications 778.03 783 Interest 266.04 243 Donations 22.50 37 5979.82 3625 EXPENSES Donation Caxton Facsimiles 404.15 Printing and Stationery 327.58 141 General Expenses 27.62 22 Audit Fee 121.22 90 Library Record Printing 3024.00 2364 Postages 467.79 226 Election Exhibition Meeting Expenses 13.05 88 Lecture Fees 50.00 65 Clerical Wages 182.74 175 Donors Party Expenses 482.48 5100.63 3501 EXCESS OF INCOME OVER EXPENDITURE $879.19 $124

AUDITORS’ REPORT We have examined the records of the Friends of the Turnbull Library (Inc.) for the year ended 31st March 1977. In our opinion, the Balance Sheet and above Statement of Income and Expenditure correctly sets out the financial position and the transactions for the year, according to the records and explanations given to us. We have accepted the Secretary’s Certificate as to the quantities and values of stock of the Society as at 31st March 1977. Morris, Pattrick& Co. Honorary Auditors Wellington 22nd June 1977

ALEXANDER TURNBULL LIBRARY ENDOWMENT TRUST BOARD

Income and Expenditure Account for year ended 31 March 1977

INCOMEEXPENDITURE $ $ $ $ 155 Grants 494 Numbering 153 Stationery - Duty ON Miscellaneous Fox 815 Gold 3,048 OF 9 (loss) Journal

ALEXANDER TURNBULL LIBRARY ENDOWMENT TRUST BOARD

Balance Sheet as at 31 March 1977

1975176 1 976177 1975176 1976177 $ $ $ $ CURRENT LIABILITIES CURRENT ASSETS Accounts payable 4,122 20 Cash on Hand 20 ACCUMULATED FUNDS 15,163 BNZ 4,592 119,061 Funds 119,061 933 Interest 900 Less Excess Expenditure 1,031 Accounts Receivable 1,233 Over Income 466 24,185 Stock of Reproductions (at cost) 25,948 118,595 41,332 32,693 INVESTMENTS AND LONG TERM RECEIVABLES ‘ (see notes 2, 3 to the accounts) 7,500 Mortgage 10,686 National Provident Fund 11,227 6,000 BNZ term deposit _ 30,000 Debentures UDC 40,000 5,700 Fletcher Holdings 6,650 4,998 Independent Newspapers Ltd 4,998 6,445 N.Z. Forest Products 7,506 3,250 N.Z. Insurance Co. Ltd 7,887 N.Z. Motor Corporation 4,400 3,150 South British Insurance 3,150 Transport (Nelson) Ltd 4,206 77,729 90,024 119,061 122,717 119,061 122,717

ALEXANDER TURNBULL LIBRARY ENDOWMENT TRUST BOARD

Receipts and Payments Account for year ended 31 March 1977

RECEIPTS PAYMENTS 1975176 1976177 1975176 1976177 $ $ $ $ 4,254 Balance 1.4.76 15,163 6,416 Reproduction Cost 7,196 5,000 Grants: 21,959 Purchases: Lottery Board 25,000 Paintings, Drawings & Maps 44,379 Macarthy Trus' 5,000 30,000 Books, Papers, Manuscripts, Letters 2,538 46,917 1,111 Commission 1,690 5,502 Interest 6,273 1,345 Dividends 1,485 1,119 Miscellaneous: 140 Donations: Insurance 317 Miscellaneous 2,006 Advertising 190 26,206 Reproduction Sales: Numbering Prints 904 Fox 375 Printing Catalogues 1,617 Barraud 138- Others 49 3,077 Harris 840 Maplestone 1,244 15,163 Balance 31.3.77 5,245 Bridge 345 Thermal 681 Mein Smith 1,739 Fox Portfolio 964 Angas 995 Gully 3,010 Colonial Wellington 3,344 Gold 3,378 17,053 1,023 Book Sales: Turnbull Biography 266 76 Miscellaneous Receipts 253 44,657 74,189 44,657 74,189

NOTES TO ANNUAL ACCOUNTS ?. Statement of Accounting Policies; General Principles The general accounting principles appropriate for the measurement and reporting of income and expenditure under the historical cost method, as set out in the New Zealand Society of Accountants statements have been adopted by the Board in so far as they apply to the business of the Board. 2. Valuation of Investments Investments in shares are stated at cost and have not been written down where market value is lower. 3. Shares New Zealand Insurance: 4000 Preference $4,637 1000 Ordinary $3,250 Transport (Nelson) Ltd: 5000 Preference $4,206 All other shares listed in the Statement of Financial Position are ordinary.

REPORT OF THE AUDIT OFFICE To the Chairman and Members of the Alexander Turnbull Library Endowment Trust Board. The Audit Office, acting under statutory authority, has audited the accounts of the Alexander Turnbull Library Endowment Trust Board for the year ended 31 March 1977. The audit included such reviews of the accounting procedures and tests of the accounting records and other supporting evidence as were considered necessary in terms of Section 20, Public Revenues Act 1953. All the information and explanations required have been obtained, with the exception of the following: The Board failed to keep adequate records of Stock of Reproductions. The financial transactions which have come under notice have been within statutory authority. Subject to the foregoing reservation, the Audit Office is of opinion that the attached Balance Sheet and accompanying accounts give a true and fair view of the state of affairs of the Board as at 31 March 1977 and of the results of the financial operations for the year. S. T. Keene for Controller and Auditor-General 15 December 1977