PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1942.

Appendix to the Journals of the House of Representatives, 1942 Session I, B-09a

B—9A,

1942. NEW ZEALAND.

PUBLIC TRUST OFFICE (ACCOUNTS OF THE) FOR THE YEAR ENDED 31st MARCH, 1942.

Laid before the General Assembly in pursuance of Section 27 of the Public Trust Office Amendment Act, 1921-22. The Audit Office, 2nd July, 1942. The Right Honourable the Acting Minister of Finance, Wellington. Sir, — I have the honour, in accordance with the provisions of section 27 of the Public Trust Office Amendment Act, 1921-22, to transmit to you the Balance-sheet of the Public Trust Office as at 31st March, 1942, and to advise you that it has been examined and found correct. I have the honour to be, Sir, Your obedient servant, Cyril G. Collins, Controller and Auditor-General. PUBLIC TRUST OFFICE. Balance-sheet op the Public Teust Office as at 31st March, 1942. Liabilities. Assets. £ £ £ Amounts held in Common Fund for Premises, furniture, plant, stationery, &c. .. .. 412,432 sundry estates and funds.. .. 24,134,173 Government securities .. .. .. .. 5,619,092 Amounts held for special investment on Local bodies'debentures .. .. .. 6,077,510 behalf of certain funds, but not yet Mortgages (including investments of reserve for invested .. .. .. 53,535 mortgages) .. .. .. .. .. 11,394,112 Amounts specially invested on behalf Properties acquired and advances for protection of of certain estates and funds .. 15,261,915 securities (book value) .. .. .. 343,223 39,449,623 Advances (on overdraft) to estates and accounts Sundry creditors, writings off, &c. .. .. 172,503 (book value) .. .. .. .. 634,335 Reserve in rospect of enemy property Interest and rent accrued, due, and overdue .. 368,216 moneys.. .. .. .. 28,835 Sundry debtors, assets in suspense, &c. .. .. 69,162 Reserve for taxation .. .. 4,309 Cash in hand, on current account, and on deposit in Reserves for losses on mortgages, &c„ New Zealand and London .. .. .. 278,956 and in respect of advances for pro- Special investments, and overdue interest thereon, tection of securities .. .. 259,407 held on behalf of estates and funds .. .. 15,261,915 292,551 General Legal Expenses Account .. .. 7,731 Investment Fluctuation Account .. .. 114,317 Assurance and Reserve Fund .. .. 413,716 Profit and Loss Appropriation Account .. 8,512 £40,458,953 £40,458,953 Profit and Loss Account for the Year ended 31st March, 1942. Br. £ Or. £ Salaries and general working-expenses .. .. 335,279 Commission, and other income (net) .. .. .. 403,887 Losses on realization of mortgages, and reserve for anticipated losses .. .. .. 26,243 Depreciation on office premises, furniture, &e. .. 16,486 Taxes and reserve therefor .. .. .. .. 8,855 Balance, being net profit for year, transferred to Appropriation Account .. .. .. •• 17,024 £403,887 £403,887 Profit and Loss Appropriation Account for the Year ended 31st March, 1942. Dr. £ Or. £ Consolidated Fund: One-half profits for year ended Balance .. .. .. .. .. .. 8,537 31st March, 1941, payable in accordance with section Profit and Loss Account: Balance transferred .. 17,024 24 (1), Finance Act, 1929 .. .. .. 8,537 Investment Fluctuation Account .. .. .. 8,512 Balance .. .. .. .. •• .. 8,512 £25,561 £25,561 £ Balance .. .. .. .. .. .. 8,512 W. G. Baird, Deputy of the Public Trustee. F. Menneer, Chief Accountant. I hereby certify that the Balance-sheet and accompanying accounts have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.— Cyril G. Collins, Controller and Auditor-General.

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