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, 1921, which were, — Life allowances on account of voluntary retirements (1,367 £ s. d. persons) ... ... ... ... ... ... 135,726 13 2 Life allowances on account of retirements as " medically unfit" (335 persons) ' ... ... ... ... ... 23,999 15 3 Allowances to 520 widows and 990 children ... ... ... 22,230 0 0 Total annual allowances granted ... ...£181,956 8 5 Since the inauguration of the fund 590 beneficiaries have, however, died, and 16 members who had been placed on the fund as "medically unfit" resumed duty. The fund was relieved of an annual liability of £43,518 9s. lid. in respect to these 606 members ; 462 children have reached the age of fourteen years, 14 children have died, 81 widows remarried, 44 widows died; lessening the liability of the fund by an additional £8,438 per annum. There were 2,005 persons actually on the fund at the 31st March, 1921, involving an annual liability of £129,999 18s. 6d. D. H. Guthbib, Chairman of the Government Railways Superannuation Fund Board.

Revf4Nue Account op the Govebnment Railways Supeeannuation Fund under Section 90 of the Govebnment Railways Act, 1908, fob the Yeae ended 31st March, 1921. Dr. £ s. d. Gr. £ s. d. To Balanoe brought forward on Ist April, By Retiring-allowanoes to— 1920 .. .. .. .. 408,232 10 8 Members .. ■ .. .. 109,627 11 0 Members'contributions .. .. 121,854 10 8 Widows and children .. .. 13,650 4 8 Members' contributions on account of Payments under seotion 82 (6) .. 293 15 2 casual service .. .. .. 672 15 1 Payments under section 86 (c) .. 863 4 1 Pines .. .. .. .. 431 5 0 Contributions refunded .. .. 38,461 9 0 Government contribution .. .. 75,000 0 0 Travelling - expenses of members of Interest .. .. .. .. 21,960 0 8 Board .. .. .. .. 54 18 2 Donation : His Excellency the Go- Contributions transferred to Publio vernor-General .. .. .. 5 0 0 Service Superannuation Fund .. 375 7 0 Publio Trust Office charges .. 338 16 0 Amount of fund at close of year .. 464,490 17 0 £628,156 2 1 £628,156 2 1 Balance-sheet op the Government Railways Supeeannuation Fund under Section 90 op the Government Railways Act, 1908, for the Yeae ended 31st Maech, 1921. Liabilities. Assets. £ s. d. £ s. d. Fund as per Revenue Aooount .. 464,490 17 0 In hands of Publio Trustee .. .. 446,569 1110 Retiring and other allowances due, in Contributions and fines in transit .. 12,615 13 1 course of payment— Arrears of contributions due by members Members .. .. .. 608 7 2 in respect to casual servioe .. 6,710 3 5 Widows and children .. .. 1,089 2 7 Amount due from Treasury for disburseRefunds of contributions due, in course ments on account of annuitants' costof payment .. .. .. 1,295 14 3 of-living bonus .. .. .. 1,588 12 8 £467,484 10 £467,484 1 0 D. H. Guthrie, Chairman of the Government Railways H. Williams, Superannuation Fund Board. Chief Accountant, New Zealand Railways. Examined and found correct. —Robeet J. Collins, 31st July, 1921. Controller and Auditor-General.