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The fixed deposit of £163 3s. 5d., which matured on the 21st December, 1900, and is only available for the purchase of land, has been renewed for one year. Twelve reserves were let during the year. The lease of part of one of these, containing 40 acres, was renewed by arbitration, and the remainder were let by tender, after the subdivision of two into six farms; and, on four of these subdivisions, building and residence was made compulsory. Of the £304 14s. Id., which was shown in last year's accounts as awaiting appropriation in the purchase of land, £52 18s. 2d. has been expended in the acquisition of Eural Section 34441 of 15 acres of land, situated in the centre of Pastoral Bun No. 5 ; and had it not been for this, the Survey Department would have required to lay off a road about two miles in length, over difficult country, to give access to this section, and the road would have taken some 16 acres of land out of the run, and been a detriment to it for all time. I have, &o'., John Eennie, Chairman. The Hon. the Minister of Education, Wellington.

General Statement of Receipts and Expenditure for the Year ended 31st December, 1900.

Primary Education Estate. Total. Receipts. To Balance ... ... ... ... ..'. ) Arrears of 1899, from last account... Moneys payable within the year 1900, and collected— On account of half-year's rent payable in advance on the 1st May, 1900 On account of half-year's rent payable in advance on the 1st November, 1900 ... £ s. a. £ s. a. 933 16 11 2,280 6 11 8,076 9 10 6,291 12 6 14,368 2 4 Other receipts — Bank of New Zealand—Interest on £163 3s. 5d. placed on deposit for one year (see statement of 31st December, 1899) 4 17 9 Total receipts 17,587 3 11 Expenditure. By Office-expenses and management— Salary of steward (inclusive of travelling-expenses) Stationery and postage Bank exchange on cheques ... ... ... .... School Commissioners, railage and expenses £ s. a. 540 0 0 8 12 11 0 9 9 17 16 0 £ s. a. 566 18 8 Expenses of leasing— Advertising, printing, and lithographic plans Cost of subdivisional survey of Eeserves 928 and 1118 Arbitrators' fees assessing rental of Lot 3, Eeserve 1122 Law costs 27 13 33 8 3 3 2 4 9 0 0 6 66 9 3 Expenditure in connection with reserves— Contribution towards cost of concrete culvert from Lake Taumutu to sea, to drain Eeserve 1179 and contiguous land, to which Selwyn County Council, Ellesmere Eoad Board, and others contributed Purchase of Eural Section 34441 of 15 acres, and cost of transfer 150 0 0 52 18 2 Payments to Education Boards— North Canterbury ... ... ... ... .*',. South Canterbury ... ... ... ... ... 12,802 1 2,997 18 7 5 836 6 1 15,800 0 0 Balance — At credit of current account On fixed deposit 787 14 163 3 5 5 16,636 6 1 950 17 10 Total expenditure ... ... 17,587 3 11