B.—l TPt. 11l

34

STATE ADVANCES OFFICE.—ADVANCES TO WORKERS BRANCH— continued. Statement of Management Expenses Account for the Year ended 31st March, 1922. Dr. £ s. cl. Or. £ s. d. To Audit Office services .. .. .. 150 0 0 By Consent fees .. .. .. .. 110 Management charges on New Zealand stock Cost of preparation of mortgages .. 44 7 0 and bonds .. . . .. .. 178 710 Production fees .. .. ... 254 11 (i Postages and telegrams.. .. .. 146 11 4 Release foes .. .. .. .. 89 0 0 Post Offico services .. .. .. 400 0 0 Sundries .. .. .. .. 14 1 Printing and stationery.. .. .. 200 0 0 Balance transferred to Profit and Loss Bent .. *.. .. .. 40 6 8 Account .. .. .. .. 3,921 6 2 Salaries .. .. .. .. 2,815 0 0 Solicitors' costs .. .. .. 31 4 5 Valuation Department—Agency work . . 350 0 0 £4,311 10 3 £4,311 10 3 Statement of Liabilities and Assets as at 31st March, 1922. Liabilities. £ s. d. Assets. £ s. d. Sundry loans .. .. .. .. 2,419,346 14 1 Investment Account—Principal owing by Temporary advances from Settlors Branch 492,000 0 0 mortgagors as at 31st March, 1922 .. 2,855,384 3 1 Interest on loans, accrued but not due .. 25,262 9 9 Interest overdue .. .. .. 9,007 7 10 Advances Suspense Account .. .. 13,710 0 0 Interest on mortgages, accrued but not due 32,144 7 II Fire Loss Suspense Account .. .. 8 0 0 Loan Charges Account . . .. .. 11,500 0 0 Income-tax Suspense Account .. .. 7,142 17 5 Insurance Premiums Account .. .. 139 14 3 Suspense Account .. . . .. 539 19 8 Realization Account .. .. .. 500 13 1 Sinking Fund .. .. .. .. 45,307 5 4 Sinking Fund investments — Reserve Fund.. .. .. .. 590 14 7 Held by Public Trustee .. 2,715 17 9 Advances Office Sinking Fund Account .. 67,645 19 9 Public Debt Sinking Fund Branch .. .. 5,170 3 7 *75,532 1 1 Cash in hand and in bank at 31st March, 1922 .. .. .. .. 19,639 13 7 £3,003,908 0 10 £3,003,908 0 10 * This amount includes the sum of £30,224 15s. 9d. capital paid into the sinking funds under the provisions of the State Advances Act. Wm. Waddel, Superintendent. State Advances Office, Wellington, 6th June, 1922. W. N. Hinchliffe, Accountant. The Audit Office, having examined the balance-sheet and accompanying accounts, and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith.— G. P. C. Campbell, Controller and Auditor-General. ADVANCES TO LOCAL AUTHORITIES BRANCH. Statement of Profit and Loss Account for the Year ended 31st March, 1922. Dr. £ s. d. Or. £ s. d. To Balance —Interest Account .. .. 2,174 0 9 By Balance—Loss for the year .. .. 3,190 14 11 Balance —Management Expenses Account 1,022 8 2 £3,196 14 11 £3,196 14 11 £ s. d. £ s. d To Balance as at 31st March, 1921 .. ..25,318 12 10 By Balance .. .. .. ..76,908 3 4 Loan-flotation charges written down .. 801 0 0 Accumulated profits on sinking funds as at 31st March, 1921. transferred to Sinking Fund .. .. .. .. 47,651 15 7 Loss for the year .. .. .. 3,196 14 11 £76,968 3 4 £76,968 3 4 Statement of Interest Account for the Year ended 31st March, 1922. Dr. £ s. d. £ s. d. Or. £ s. d. £ s. d. To Interest on loans .. 103,195 12 6 By Interest on debentures .. 91,972 0 6 Less accrued at 31st March, Less overdue and accrued at 1921.. .. .. 36,385 6 7 31st March, 1921 ..30,714 1 4 66,810 5 11 61,257 19 2 Interest on amounts temporarily transferred Interest on bank balances . . .. 318 6 from other branches .. .. .. 17,828 10 8 Interest on temporary inInterest on loans, accrued but not due .. 36,385 6 7 vestments .. .. 27,512 19 2 Less accrued at 31st March, 1921 .. .. .. 9,351 3 5 18,161 15 9 Interest on temporary investments, accrued but not due .. .. .. 9,351 3 5 Interest on debentures — £ s. d. Overdue at 31st March, 1922 .. .. 10,478 15 4 Accrued but not due at 31st March, 1922 .. 19,590 4 3 30,074 19 7 Balance transferred to Profit and Loss Account .. .. .. .. 2,174 6 9 £121,024 3 2 £121,024 3 2