5

8.—13

Statement of Management Expenses Account for the Year ended 31st March, 1920. Dr. £ s. d. Cr. £ s. d. To Audit Office services .. ' ~ .. 300 0 0 By Consent feeß .. .. .. 18 10 0 Inspeotion fees .. .. .. 97 18 0 Production fees .. .. .. 1,191 3 5 Office maintenance .. .. .. 100 3 0 Release fees .. .. .. 676 19 6 Petty general expenses .. .. 92 1 2 Sundries .. .. .. .. 35 18 4 Postages and telegrams .. .. 722 7 5 Balance transferred to Profit and Loss Post Office services .. .. .. 620 10 2 Account .. .. .. .. 12,402 17 5 Printing and stationery .. .. 581 6 6 Salaries .. .. .. .. 11,003 11 11 Telephones .. .. .. .. 39 810 Travelling-expenses .. .. .. 268 1 8 Valuation Department—agency work .. 500 0 0 £14,325 8 8 £14,325 8 8 Wm. Wadded, Deputy Superintendent. W. N. Hinchliffe, Accountant. State Advances Office, Wellington, 25th June, 1920. Examined and found correct. —Eobert J. Collins, Controller and Auditor-General.

ADVANCES TO WORKEBS BBANCH. Statement of Liabilities and Assets as at 31st March, 1920. Liabilities. £ s. d. Assets. £ s. d. Sundry loans .. .. .. 2,419,346 14 1 Investment Acoount, less total repayTemporary loans from Settlers Branch 100,000 0 0 ments .. .. .. .. 2,426,090 17 6 Interest payable on loans, accrued but Plus mortgage instalments overdue— not due .. .. .. .. 24,922 11 8 principal.. .. .. .. 6,945 9 7 Advances Suspense Aocount .. .. 8,155 0 0 Fire Loss Suspense Account .. .. 258 10 0 Total principal owing by mortgagors Suspense Account .. .. .. 587 17 11 at 31st March, 1920 .. ..2,433,036 7 1 Reserve Fund .. .. .. 23,039 19 1 Mortgage instalments overdue—interest 9,537 8 2 Interest on mortgages, accrued but not due .. .. .. .. 28,048 8 7 Loan Charges Account .. .. 17,000 0 0 Insuranoe Premiums Aocount .. 192 10 10 Sinking Funds— £ s. d. Publio Trustee .. 2,715 17 9 Advances Office Sinking Fund Account .. 64,764 11 11 Public Debt Sinking Fund Branch .. 3,357 9 5 70,837 19 1 Cash in bank at 31st March, 1920 .. 17,657 19 0 £2,576,310 12 9 £2,576,310 12 9 Statement of Pbofit and Loss Account for the Year ended 31st March, 1920. Dr. £ s. d. Cr. £ s. d. To Management Expenses Aocount .. 3,274 15 2 By Interest Aocount—gross profits .. 10,728 11 5 Losses on realization of securities, and doubtful securities written down .. 252 4 2 Balance —net profits for the year .. 7,201 12 1 £10,728 11 5 £10,728 11 5 £ s. d. £ s. d. Loan-flotation charges written down .. 5,000 0 0 Net profits for the year .. .. 7,201 12 1 Balance—net profits transferred to Reserve Fund .. .. .. 2,20112 1 £7,201 12 1 £7,201 12 1