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ADVANCES TO LOCAL AUTHORITIES BRANCH. Statement of Liabilities and Assets as at 31st March, 1928. Liabilities. £ s. d. Assets. £ s. d. Sundry loans .. .. .. .. 2,790,293 11 8 Investment Account —Pricipal owing by local Loan-moneys—Unexpended balances under sec- bodies .. .. .. .. 2,804,100 18 9 tion 72, Local Bodies' Loans Act, 1913 .. 3,987 12 10 Sinking Fund investments held by Advances Temporary advances from Settlers Branch .. 374,500 0 0 Office Sinking Fund Account .. . . *375,020 10 11 Suspense Account .. .. .. 121 3 2 Interest on debentures— £ s. d. Sundry creditors .. .. .. .. 19,966 13 4 Overdue .. .. .. 2,798 6 9 Interest on loans accrued but not due .. 36,553 18 8 Accrued .. .. .. 24,645 10 11 Sinking Fund .. .. .. .. 146,810 13 4 27,443 17 8 Loan Charges Account .. .. .. 31,750 11 10 Profit and Loss Account .. .. .. 133,701 1 10 Cash in hand and in bank at 31st March, 1928 .. 216 12 0 £3,372,233 13 0 £3,372,233 13 0 * This amount includes the sum of £228,209 17s. 7d. capital paid into the Sinking Fund under the provisions of the State Advances Act. Profit and Loss Account for the Year ended 31st March, 1928. Dr. £ s. d. Cr. £ s. d. To Balance—lnterest Account .. .. 8,671 6 1 By Balance —Loss for the year .. .. 10,381 4 0 Management Expenses Account .. .. 1,709 17 11 £10,381 4 0 £10,381 4 0 £ s. d. £ s. d. To Balance as at 31st. March, 1927 .. .. 122,238 13 0 By Balance .. .. .. .. 133,701 110 Loan-flotation charges written down .. 1,081 410 Loss for the year .. .. .. 10,381 4 0 » £133,701 1 10 £133,701 1 10 Interest Account for the Year ended 31st March, 1928. Dr. £ s. d. £ s. d. Cr. £ s. d. £ a. d. To Interest on loans .. .. 103,934 0 0 By Interest on debentures .. 120,309 12 9 Less accrued at 31st Less overdue and accrued March, 1927 .. .. 36,554 6 6 at 31st March, 1927 .. 31,298 4 0 67,379 13 6 89,011 8 9 Interest on amounts temporarily transferred Interest on bank balances .. .. .. 23 13 0 from Settlers Branch .. .. .. 21,216 13 4 Interest on debentures— Interest on loans accrued but not due .. 36,553 18 8 Overdue at 31st March, 1928 2,798 6 9 Accrued but not due at 31st March, 1928 .. 24,645 10 11 27,443 17 8 Balance transferred to Profit and Loss Account 8,671 6 1 £125,150 5 6 £125,150 5 6 Management Expenses Account for the Year ended 31st March, 1928. Dr. £ s. d. Cr. £ s. d. To Audit Office services .. .. .. 50 0 0 By Balance transferred to Profit and Loss Account.. 1,709 17 11 Cleaning, lighting, heating, and messenger services 30 0 0 Management charges, New Zealand stock and bonds .. .. .. .. .. 603 17 11 Post Office services .. .. .. .. 30 0 0 Postages and telegrams .. .. .. 35 0 0 Printing and stationery .. .. .. 140 0 0 Public Service Superannuation Fund contribution .. .. .. .. .. 20. 0 0 Rent .. .. .. .. .. 100 0 0 Salaries .. .. .. .. .. 701 0 0 £1,709 17 II ' £1,709 17 11 Wm. Waddel, Superintendent. State Advances Office, Wellington, 23rd August, 1928. R. Robertson, Accountant. I hereby certify tlxat the Balance-sheet and accompanying accounts have been duly examined and compared with the books and documents submitted for audit, and correctly state the position as disclosed thereby. —G. F. C. Campbell, Controller and Auditor-General.

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