REPORT OF THE AUDIT COMMITTEE

B—No. Iα

62

APPENDIX 111.

REPORT OF THE AUDITOR OF PUBLIC ACCOUNTS ON THE TREASURY STATEMENTS FOR THE FINANCIAL TEAR 1859-60.

In the Treasury Statements under examination, all arrears, whether of receipt or expenditure, belonging to previous years, are shewn as transactions of the year 1859-60; except in thos« instances in which sufficient sums had been specially reserved to meet outstanding liabilities. This arrangement necessarily follows from the practice of finally closing the accounts three month* after the termination of the financial year. The arrears are, however, trifling in amount, and call for no remark. £49,503 15s. lid. oi'the guaranteed Loan of £500,000, and £12,924 7s. 6d. of the Provincial Land Purchase Funds, have been used in aid of the Colonial Chest. Besides thes« funds, the Deposits belonging to Intestate Estates, and the sum of £8,133 9s. Id. claimed by th« British Government, have also been made available for general purposes. This will be apparent by striking out of the Debtor side of the Balance Sheet the following items : — £ s. d. Ordinary Revenue belonging to year 1860-61 ... ... ... 35,843 14 10 Balance of Civil List ... ... 6,206 10 10 Do. of Reserve Fund 10,029 5 5 Surplus Revenue of Provinces ... ... ... ... ... ... 21,057 13 11 Land Revenue Account ... ... ... ... ... ... ... 16,843 17 10 Promissory Notes ... ... ... ... ... ... .... 3,254 12 8 Sinking Fund 17,946 19 2 £111,182 14 8 And then striking out of the Creditor side :— Balance in hands of Accountants ... ... ... ... ... 36,862 5 8 Do. do. Land Receivers ... ... ... ... ... 16,843 17 10 Advances, less Loans to Natives, say ... ... ... ... ... 6,158 4 8 Do. to Provinces 17,036 1 2 Interest on Loan Account ... ... ... ... ... ... 370 13 7 British Treasury, Interest and Sinking Fund ... ... ... ... 13,140 5 0 Auckland Reserves Act ... ... ... ... ... ... 1,565 2 7 Bay of Islands Settlement Act 1,212 12 9 Union Bank of Australia ... ... ... ... ... ... 671 0 0 S per cent. Consols 17,321 19 2 £111,182 2 5 The Balance Sheet would then stand as follows :— On Debtor or Receipt side. Balance of Guaranteed Loan of 500,000 in hand 49,503 15 11 Deposit claimed by British Government ... ... ... ... 8,133 9 1 Bank of Issue and other Deposits ... ... ... ... ... 1,242 5 2 Miscellaneous Deposits, including Intestate Estates ... ... ... 5,776 19 3 Balance of Laud Purchase Funds Receipts £'3,011 9 6 Investments 10,087 2 0 . , _— 12,924 7 6 £77,580 16 11 On Creditor or Disbursement Side. Expenditure without Legal Appropriation— " Supplementary Expenditure ... ... ... ... 36,537 14 1 War Expenses, &c 25,043 14 2 " Steam Loan to Pearson and Co., amount outstanding ... 10,750 0 0 " Loans to Natives, &c, (say) 4,000 0 0 Advances on account of Imperial share of Steam Subsidy ... ... 1,250 0 0 £77,581 8 3