E-.—l.

and prospective income. For the year just closed, the result of its operations financially has been quite satisfactory. The balance to credit of both the General and Building Accounts has increased, the latter, however, by only a few pounds. In the General Account the liabilities (and these do not include many contingent liabilities) amount to £1,198, while the assets in the form of grants due from the Government only reach an aggregate of £910 13s. sd. On the Building Account, the assets (exclusive of the ordinary 1904 grant) and liabilities just about balance one another. It may here be pointed out that the present allowance (lis. 3d. per pupil in average attendance", plus £250 per annum) is just sufficient to cover the cost of the administrative expenses of the Board, very little margin being available for contingent and unforeseen demands on the resources of the Board which may arise at any time. On the whole, however, the Board may congratulate itself on the soundness of its financial position, and at the same time note the fact that only by the exercise of prudence and forethought in the matter of its expenditure will its future prospects be equally hopeful and encouraging. By order of the Board. John Neill, Secretary. The Right Hon. the Minister of Education, Wellington.

General Statement of Receipts and Expenditure for the Year ending 31st December, 1903. Receipts. £ s. d. Expenditure. £ s. d. Balance at beginning of year— .. 1,518 7 0 Staff salaries and olerical assistance .. 1,393 4 0 Grants from Government for— Office contingencies .. ... . .. 1,156 10 7 Teachers' and pupil-teachers' salaries, Teachers' and pupil-teachers' salaries, and and allowances to pupil-teachers .. 27,013 1 6 allowances to pupil-teachers .. .. 30,696 0 4 Reserves revenue, primary education .. 3,473 14 8 Drill-instruction .. .. .. 12 10 0 Capitation at lis. 3d., and grant of Incidental expenses of schools .. .. 2,229 12 4 £250 .. .. .. .. 4,896 13 9 Scholarships, and expenses of examination 551 8 9 Capitation for relieving-teachers .. 206 10 9 Salaries of staffs of district high schools, Drill-instruction .. .. .. 12 10 0 paid out of special receipts .. .. 534 12 10 Receipts from other sources— Apparatus, Gore District High School .. 24 14 4 Interest on fixed deposit .. .. 80 0 0 Manual and technical instruction— Rents of sohool-sites .. .. 88 16 10 Instructors' salaries and expenses .. 348 14 3 Refunds—various .. .. .. 67 9 1 School classes .. .. .. 180 13 9 Grants from Government for— Special classes .. .. .. 156 1 6 Scholarships .. .. .. 604 14 8 Office salaries .. ..' .. 150 0 0 Distriot High Sohools .. .. 543 12 6 Maintenance of school buildings, &c. .. 1,836 19 6 Grants from Government for manual and House-allowances .. .. .. 210 0 0 technical instruction — New schools, additions, sites, &c. .. 3,319 11 3 Capitation on attendance at olasses .. 458 7 10 Buildings, class-rooms, furniture, &c, for Material for class-work .. .. 66 8 5 manual and teohnical purposes — Instruction of teachers .. .. 150 0 0 Sohool classes .. .. .. 128 7 3 Fees, £207 16s. 9d.; voluntary contri- Special classes .. .. .. 766 16 11 butions, £4 os. Bd. .. .. 211 17 5 Credit balance at end of year .. .. 1,867 16 9 Grants from Government for— Maintenance of school buildings, Ac. 3,550 0 0 House-allowanoes .. .. .. 218 6 8 New schools, additions, sites, &o. .. 1,413 17 0 Technical-school buildings, fittings, &o. 794 9 0 Other receipts— Donations to Building Acoount .. 35 6 6 Flint's Bush—sale of old school site and building .. .. .. .. 159 10 9 £45,563 14 4 £45,563 14^4 Thomas MacGibbon, Chairman. Invercargill,' 10th March, 1904. John Neill, Secretary and Treasurer.

103