Honorary Treasurer's Report and Balance Sheet. Mr. Cory Wright presented the report of the Hon. Treasurer and the balance sheet, and on the motion of Mr. Pycroft these were adopted. Report of the Honorary Treasurer. I have to report that the Society's finances are satisfactory, as shown by the annual statements for the year ending 31st March, 1948. The Government grant of £1,250 for, each of the two past years has enabled the Society to meet the rising costs and increasing activities, particularly in the matter of printing costs. The balance at 31st March, 1948, of £3,148 17s 10d, as against £2,688 6s 10d last year, is accounted for by a payment of £500 from the Department of Scientific and Industrial Research towards the cost of printing papers presented at the Royal Society's Science Congress held last May. This amount has not yet been expended because of delay in printing the Science Congress Volume, which will be published as a Special Part of the Transactions, and it will be carried forward into next year's accounts. The delay in the Otago Daily Times Printing Department has also accounted for the fact that the blocks of Vol. 76, Part 2, and Parts 3 and 4 of Volume 76, amounting to £653 13s 3d, are all that have been charged this year, the amount of £203 1s 6d for the text and plates of Volume 76, Part 2, being shown as a liability in last year's Balance Sheet; if printing conditions improve and arrears can be overtaken, the Society will have an amount of approximately £1,500 to meet in the current year. The levy for Volume 76 obtained from Member Bodies is an Increase on that obtained for Volume 75, due to stimulated interest in the Member Bodies and growing memberships. An amount of £75 of the £100 voted last Annual Meeting for research has been allocated, but has not yet been called upon by grantees. The Trust Funds, as shown in the accompanying statements, are in a healthy condition, the investments remaining as last year. There was no need to call upon the Endowment Fund for assistance towards publication expenses (as explained above) and the amount of £283 12s 7d allocated in 1946 still stands for that purpose when required. The question of a more satisfactory basis for the Government grant of £1,250 per annum has arisen, and it is suggested that “The Royal Society of New Zealand Act, 1933,” should be amended to make provision for the total amount of the annual grant, instead of as present relying upon the Estimates of the S.I.R. Department. The Royal Society will be handling the Government grant of £10,000 and expenses of the Seventh Pacific Science Congress to be held next year, and a separate account for this has been opened at the Bank of New Zealand. The balance sheets submitted by the Member Bodies show that Rule 3 governing financial conditions of affiliation is being complied with. The following is an analysis of the Member Bodies' Accounts:— Member Body. Membership. Receipts. Expenditure. Levy. Rule 3. Auckland Institute 733 £20,257 £18,779 £76 15 0 Levy & Library, Museum Wellington Branch 362 531 302 65 9 0 Levy & Library Canterbury Branch 227 273 215 46 2 0 Levy & Library Otago Branch 168 362 314 46 10 0 Levy Hawke's Bay Branch 111 167 158 6 13 8 Levy & Library Southland Branch 47 129 47 11 5 0 Levy Nelson Phil. Society 9 9 0 Levy Nelson Institute (not yet to hand) S. Cory Wright, Honorary Treasurer. 13th May, 1948.