D.—s.

2

The amounts shown in the lists attached to the balance-sheets are those actually disbursed during the year, and do not represent the total annual allowances granted by the Board to the 31st March, 1919, which were, — Life allowances on account of voluntary retirements (1,193 £ s. d. persons) ... ... ... ... ... ... 103,287 8 2 Life allowances on account of retirements as " medically unfit" (273 persons) ... ... ... ... ... 18,208 12 3 •Allowances to 464 widows and 876 children ... ... ... 19,772 17 0 Total annual allowances granted ... ...£141,268 12 5 Since the inauguration of the fund 450 beneficiaries have, however, died, and 11 members who had been placed on the fund as "medically unfit" resumed duty. The fund was relieved of an annual liability of £32,753 ss. in respect to these 461 members; 368 children have reached the age of fourteen years, 8 children have died, 60 widows remarried, 35 widows died, 1 widow refused allowance, and 1 allowance remains unclaimed; lessening the liability of the fund by an additional £6,648 2s. per annum. There were 1,872 persons actually on the fund at the 31st March, 1919, involving an annual liability of £101,864 ss. sd. W. H. Hbrkies, Minister of Railways, Chairman of the Government Railways Superannuation Fund Board.

Revenue Account op the Government Railways Superannuation Fund under Section 90 of the Government Railways Act, 1908, for the Year ended 31st March, 1919. Dr. £ s. d. Cr. £ s. d. To Balanoe brought forward on Ist April, By Retiring-allowances to — 1918 .. .. .. .. 373,097 12 7 Members .. .. .. 88,737 15 5 Members'contributions .. .. 78,609 17 11 Widows and children .. .. 11,102 6 1 Pines .. .. .. .. 215 7 6 Payments under section 86 (c) .. 107 12 8 Government contribution .. .. 25,000 0 0 Payments under section 82 (6) .. 1,200 18 11 Interest received (with bonus) .. 17,016 2 0 Contributions refunded .. .. 28,580 11 8 Donation, H.Pj. the Governor-Geneial 10 0 0 Pines refunded .. .. .. 1 15 0 Travelling - expenses of member- of Board .. .. .. .. 48 14 0 Contributions transferred to Publio Service Superannuation Fund .. 74 11 7 Public Tru«t Office charges .. 290 10 4 Amount of fund at close of year .. 363,804 4 4 £493,949 0 0 £493,949; 0 0

Balance-sheet of the Government Railways Superannuation Fund under Section 90 of the Government Railways Act, 1908, for the Year ended 31st March, 1919. Liabilities. Assets. Dr. £ s. d. Cr. £ s. d. Fund as per Revenue Account above .. 363,804 4 4 In hands of Publio Trustee .. .. 352,055 13 10 Life allowances not paid .. .. 788 11 11 Contributions and fines in transit .. 7,882 17 5 Widows'allowances not paid.. .. 94 11 0 Arrears of contributions due by members Contributions due to be refunded not in respect to oasual servioe .. 5,619 11 5 paid .. .. .. .. 870 15 5 £365,558 2 8 £365,558 2 8 W. H. Herries, Chairman of the Government Railways J. Mac Donald, Superannuation Fund Board. Chief Accountant, New Zealand Railways. Examined and found correct. —H. A. Lamb. 9th June, 1919. Deputy Controller and Auditor.