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E.-7

The Council has this year made provision for the teaching of subjects for the Commerce degree, and has appointed Lecturers in Accountancy and Commercial Law. The New Zealand Society of Accountants has undertaken to give for at least five years a grant of £150 a year to assist in the teaching, of these subjects provided that the Government subsidy thereto can be obtained. The -University of New Zealand is now conducting the examinations for the Society of Accountants, and their students can now obtain the necessary instruction at the College. A copy of the statement of receipts and expenditure and assets and liabilities (monetary) is enclosed herewith. Charles Wilson, Chairman. Chas. P. Powles, Registrar.

Statement of Receipts and Expenditure for the Year ended 31st March, 1912. Receipts. £ s. d. I Expenditure. £ s. d. Balance brought forward .. .. 2,189 611 I Salaries .. .. .. .. 8,438 1 9 Statutory grant .. .. .. 4,000 00 i Registrar and Librarian .. .. 385 0 0 Grant for specialization .. .. 2,000 0 0 Office expenses.. .. .. ~ 17 15 4 Grant for general purposes .. ~ 1,500 0 0 Caretaker and wife .. .. .. 126 0 0 Pees .. .. .. .. .. 2,096 9 3 Printing and stationery.. .. .. 91 15 3 Examination fees .. .. .. 189 5 6 Advertising .. .. .. .. 40 1 9 Sile of oalendars .. .. .. 11 8 8 Insurance .. .. .. .. 50 810 Interest .. .. .. .. 55 18 0 Lighting .. .. .. .. 200 5 3 Rent of reserve .. .. .. 57 13 3 Heating .. .. .. .. 62 19 10 Government subsidy on donation (chemical Water.. .. .. .. .. 3 14 apparatus) .. .. .. .. 75 0 0 Travelling-expenses .. .. .. 61 13 3 Donation for Physics Research Scholarship 25 0 0 Fees refunded.. .. .. .. 64 19 0 Donation by Society of Accountants .. 150 0 0 College examination expenses .. .. 99 7 9 Donation to Library Fund .. .. 10 10 0 Library .. .. .. .. 307 13 3 Donation to Building Fund .. .. 15 0 0 Furniture .. .. .. .. 21 |6 7 Sir George Grey Scholarship .. .. 50 0 0 Maintenance .. .. .. .. R7l 16 6 Queen's Scholarship .. .. .. 50 0 0 Grounds .. .. .. .. |68 16 3 Chemical apparatus .. .. .. 545 19 10 Sir George Grey Scholarship .. .. 50 0 0 Queen's Scholarship .. .. .. 50 0 0 Physics Research Scholarship .. .. 25 0 0 Balance .. .. .. .. 1,693 910 £12,475 11 7 £12,475 11 7 Balance down — In bank .. .. £636 4 1 In hand .. .. 28 5 9 On deposit .. .. 1,020 0 0 In Post-office Savings Bank 9 0 0 1,693 9 10 Deposit Account. Receipts. £ s. d. Expenditure. £ s. d. Balance brought forward .. .. 19 19 0 Library deposits refunded .. .. 13 13 0 Library deposits .. .. .. 19 19 0 Balance .. .. .. .. 26 5 0 £39 18 0 £39 18 0 Balance down .. .. .. .'. £26 5 0 Umon Pkize Fund. Receipts. £ s. d. ] Expenditure. £ s. d. Balance brought forward .. .. 106 17 10 j Union Prize, 1910 .. .. .. 4 7 6 Interest .. .. .. .. 410 0 Union Prize, 1911 .. .. .. 4 7 6 Bank charge .. .. .. .. 0 2 6 : Balance .. .. .. .. 102 10 4 £111 7 10 £111 7 10 Balance down — In the bank .. .. £2 10 4 Wellington City debentures 100 0 0 102 10 4 Jacob Joseph Scholarship Fund. Receipts. £ s. d. Expenditure. £ s. d. Balance brought forward .. .. 3,264 10 0 Scholarships paid .. .. .. 90 0 0 Interest .. .. .. .. 135 0 0 Bank charge .. .. .. .. 0 7 6 Balance .. .. .. .. 3,309 2 6 £3,399 10 0 £3,399 10 0 Balance down— In the bank .. .. £219 2 6 Wellington City debentures 3,000 0 0 Deposit at interest .. 90 0 0 — 3,309 2 6 Examined and found correct, except that there is no authority of law for the deposit of £1,110 with a building society.—R. J. Collins, Controller and Auditor-General.