B._l [Pt. Till.

7

GOVERNMENT LIFE INSURANCE DEPARTMENT. Revenue Account for the Year ended 31st December, 1921. £ s. d. £ s. d. Amount of funds at Ist January, 1921 5,542,55119 7 Death claims under polioies, Assurance, Renewal premiums - Assurance, An- including bonus additions .. .. 159,006 19 0 nuity, and Endowment .. .. 412,759 17 7 Endowment Assurances matured, inNew premiums (including instalments eluding bonuß additions .. .. 213,69111 0 of first year's premiums falling due Endowments matured .. .. 6,064 0 0 in the year) .. .. .. 40,752 14 2 Premiums returned on endowments .. 395 2 7 Single premiums- Assurance and En- Bonuses surrendered for cash .. 12,468 18 2 dowmeut .. .. .. 789 8 0 Annuities .. .. .. .. 21,201 17 1 Consideration for Annuities.. .. 11,130 9 7 Surrenders .. .. .. 26,479 19 10 Interest and rent ..£293,192 15 3 Loans released by surrender .. .. 28,69112 1 Less land and income Commission, new* .. £31,981 6 9 tax, £4,618 3s. 10d.; . renewal 3,054 0 7 property expenses, 85,036 18 &c, £4,494 2s. lOd. 9,112 (i 8 Expenses of management— 284,080 8 7 I Salaries— £ s. d. Head Office .. 26,686 910 Branch offices and agents .. .. 12,766 0 3 Extra clerical assistance 'JO2 3 2 Medical fees and expenses .. .. 6,326 18 0 Travolling-expenses .. 1,317 5 2 Advertising .. .. 481 13 6 Printing and stationery 2,718 3 6 Rent .. .. 4,165 14 2 Postage and telegrams 2,861 10 1 Exchange .. .. 38 16 10 General expenses .. 4,318 14 S Triennial expenses .. 3,422 7 10 66,035 16 7 Marryatt Defalcation Account .. 2,643 0 2 Amount of funds, 31st December, 1921 5,726,356 7 8 £6,298,070 1\ 6 £6,298,070 17 6 ): Including agents' allowances. Balance-sheet on 31st December, 1921. Liabilities. Assets. £ s. d. £ s. d. £ s. d. Total Assurance, Annuity, and En- Loans on policies .. .. 794,545 10 1 dowment Funds (as per Revenue , Government socuriAccount) .. .. .. 5,726,356 7 8 tiosGlaims admittod, proofs not yet com- Consolidated stock 625,900 0 0 pleted .. .. .. .. 60,812 0 0| Debentures issued Annuities .. .. ... .. 412 15 8, under the auOommission .. .. ~ 2,251 17 8 thority of the PiMedical fees .. .. .. 465 3 0 nance Act, 1915 40,000 0 0 Premium and other deposits.. .. 3,822 0 8 New Zealand InFire Insurance moneys in suspenso .. 850 0 0 scribed Stock — Sundry creditors .. .. .. 5,770 16 10 War Loans ... 1,134,500 0 0 Officers' Fidelity Fund .. .. 600 0 0 Now Zealand InInvestment, Fluctuation Reserve .. 288,729 14 1 scribed Stock — Finance Act, 1919 50,000 0 0 New Zealand Inscribed Stook — Discharged Soldiers Settlement Loan.. .. 110,000 0 0 1,960,400 0 0 Municipal Corporation debentures .. 131,439 14 0 County securities .. .. .. 5,981 1 2 Harbour Board debentures ;. ~ 34,500 (I 0 Town Board debentures .. .. 29,200 0 0 Road Board debentures .. .. 21,800 0 0 Drainage Board debentures .. .. 1,987 17 6 Landed and house property .. .. 134,089 11 10 Landed and bouse pioporty (leasehold) 1 ,645 0 0 Mortgages on property .. .. 2,743,405 2 8 Properties acquired by foreclosure .. 281 8 8 Overdue premiums on .£ s. d. policies in force .. 8,326 18 7 Outstanding premiums due but not overdue.. 43,449 14 4 51,776 12 11 Overdue intorest .. 8,420 4 5 Outstanding interest due but not overdue.. 7,400 0 9 Interest aoorued but not due .. .. 70,124 5 4 85,944 10 6 .: Agents' halauoes .. .. .. 5,258 19 4 Sundry debtors .. .. .. 2,938 1 1 Cash in hand and on oui-ront aoeount.. 84,907 1 2 £0,090,100 16 1 £6,090,100 16 1 J. H. Richardson, Commissioner. Geo. \V. Barltrof, Secretary. Government Life Insurance Department, 6th April, 1922. The Audit Office, having examined the Revenue Account and balance-sheet, and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith. —G. P. C. Cami'bell, Controller and Auditor-General.