7

8.—13

Statement of Interest Account for the Year ended 31st March, 1922. Dr. £ s. d. £ s. d. Gr. £ s. d. £ s. d. To Interest on loans .. 95,979 7 6 By Interest on mortgages .. 124,160 17 11 Less accrued at 31st March, Less overdue and accrued at 1921 .. .. 24,963 13 7 31st March, 1921 .. 39,369 5 3 71,015 13 11 84,791 12 8 Interest on amounts temporarily transferred Interest on bank balances .. .. 910 0 from Settlors Branch.. .. .. 16,257 12 5 Interest on mortgages— Interest on loans accrued but not due .. 25,262 9 9 Overdue at 3lst March, Balance—Gross profits transferred to Profit 1922 .. .. 9,067 710 and Loss Account .. .. .. 13,477 2 4 Accrued but not due at 31st March, 1922 .. 32,144 7 11 41,211 15 9 £126,012 18 5 £126,012 18 5 Statement of Management Expenses Account for the Year ended 31st March, 1922. Dr. £ a. d. Gr. - £ 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 6 and Bonds .. .. . . .. 178 7 10 Production fees .. .. .. 254 11 6 Postages and telegrams.. .. .. 146 II 4 Rolease fees .. .. .. .. 89 0 0 Post Offico services .. .. .. 400 0 0 Sundries .. .. .. .. 14 1 Printing and Stationery .. .. 200 0 0 Balance transferred to Profit and Loss Rent .. ".. .. .. 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 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 Liabilities and Assets as at 31st March, 1922. Liabilities. £ s. d. Assets. £ s. d. Suadry loans.. .. .. .. 2,779,510 12 10 Investment Account —Principal owing by Temporary advances from Settlers Branch 409,000 0 0 local bodies .. .. .. 2,434,844 6 10 Temporary advances from Public Debt Interest on debentures — Sinking' Fund Branch .. .. 155,038 0 0 Overdue at 31st March, £ s. d. Interest on loans accrued but not due .. 36,385 6 7 1922 10,478 15 4 Sinking Fund .. .. .. 59,634 10 S Accrued but not due at 31st March, 1922 .. 19,596 4 3 30,074 19 7 Loan Charges Account .. .. 32,072 5 0 Temporary investments .. .. 545,226 12 3 Interest on temporary investments accrued but not due ' .. .. .. 9,351 3 5 Sinking Fund investments — £ s. d. Held by Public Trustee 48,401 0 5 Advances Offico Sinking Fund Account .. 222,559 13 10 Public Debt Sinking Fund Branch .. 11,766 11 10 282,787 0 1* Profit and Loss Account .. .. 76,968 3 4 Cash in hand and in bank at 31st March, 1922 .. .. .. .. 28,249 13 7 £3,439,574 10 1 £3,439,574 10 1 * rhis amount includes the sum of £223,152 15s. sd. capital paid into the sinking funds under the provisions of the State Advances Act. Statement of Profit and Loss Account for the Year ended 31st March, 1922. Dr. £ s. d. Gr. , £ s. d. To Balance—lnterest Account .. .. 2,174 0 9 By Balance—Loss for the year .. .. 3,196 14 II Balance —Management Expenses Account 1,022 8 2 £3,190 14 11 £3,196 14 11 £ s. d. £ s. d. To Balance as at 31st March, 1921 .. ..25,318 12 10 By Balance .. .. .. ..76,968 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 • *