104

E.—l

Of the sum of £5,464 Bs. sd. shown in the statement of receipts and expenditure for the year 1887, as rent, &c, in arrear on 31st December, £1,138 12s. 6d. has been collected during the present quarter. As I have already explained in previous reports, a considerable number of the rents, &c, do not become due until the latter end of the year, and are seldom paid until the commencement of the following year. I may also say that all rents are payable half-yearly in advance, and are debited accordingly. In explanation of the large amount shown in the statement of receipts and expenditure as expenses of management, I would point out that £481 19s. was paid for rates to counties, boroughs, road and river boards, and the Waimea Plains Eailway Company; £78 Bs. 9d. was expended upon the destruction of rabbits on unleased reserves; and £185 3s. handed over to the Southland County Council for road-making, in terms of " The Land Act, 1885." I transmitted the audited statement of receipts and expenditure to the Secretary of the Education Department on the 24th instant. I have, &c, The Hon. the Minister of Education. J. P. Maitland, Chairman.

General Statement of Receipts and Expenditure for the Year ending 31st December, 1887.

Receipts. Primary Education Reserves. Secondary Elducation Reserves. Total. To Credit balances on 1st January, 1887 ... I £ s. d. 37 15 10 1,350 0 0 2,891 11 4 £ s. 11811 d. 3 £ 8. d. 37 15 10 1,350 0 0 3,010 2 7 Arrears.of revenue for previous years—rents, &c. Eevenues of past year — Eents, &c. Net proceeds of land sales ... Eepayment on account of loan Costs received for preparing leases Tenants' share of costs of valuation, &c. 9,128 18 11 1,976 18 7 158 1 3 11 11 0 6 2 6 405 4 4 9,534 3 3 1,976 18 7 158 1 3 11 11 0 6 2 6 Total receipts 15,560 19 6 523 15 7 16,084 15 0 Expenditurt iy Salaries and allowances to officers —viz., Secretary, £300; clerk, £77 10s.; commission to Southland agent, £89 Is. 9d. ... Commissioner's travelling expenses—W. H. Pearson Office rent, cleaning, &c. ... ... ... Printing, stationery, &c. Expenses of leasing — Auctioneer's commission and travelling expenses Advertising Incidentals Legal expenses Expenditure on reserves— Reporting Destroying rabbits... County, Eoad Board, Borough, and Waimea Plains Eailway rates Eoad construction, being part of perpetual lease rent and deferred-payment instalments paid to Southland County Council in terms of "The Land Act, 1885" ... Payments to Otago Education Board ... Payments to Southland Education Board Payments towards secondary education — Otago Education Board, for district high schools Otago Boys' and Girls' High Schools Board ... Southland Boys' and Girls' High Schools Board Waitaki High School Board Amount invested on mortgage... Expenses of land sales (charged against investments) Credit balances on 31st December, 1887 — Bank Fixed deposits £• s. d. £ s. d. £ s. a. 466 11 9 21 9 8 101 1 6 14 5 9 15 18 11 55 7 6 121 12 6 23 6 9 1,571 2 6 64 13 6 70 10 11 78 8 9 481 19 0 185 3 0 7,699 0 2,752 3 5 4 10,451 3 9 175 8 3 142 18 10 120 18 1 19 16 11 I 459 2 1 27018 6 270 18 6 10 0 0 10 0 0 14 0 3,243 14 0 8 14 0 0 3,243 14 8 Total expenditure ... 15,560 19 5 523 15 7 16,084 15 0