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ADVANCES OFFICE SINKING FUND ACCOUNT. Statement of Liabilities and Assets as at 31st March, 1928. Liabilities. \ Assets. Principal received as at 3lst £ s. d. £ s. d. I Investment Account—Princi- £s.d.£ s. d. March, 1927, with accu- i cipal owing on loans to— mulated interest from— j Settlers .. .. 1,096,293 1 4 Settlers Branch .. .. 1,823,817 110 ! Workers .. .. 68,668 9 5 Workers Branch.. .. 271,751 8 8' Local bodies .. .. 411,767 16 8 Local Authorities Branch 358,187 13 2 1,576,729 7 5 Temporary advances to Settlers Branch .. 666,500 0 0 2,453,756 3 8 Sundry debtors .. .. .. .. 51 15 1 Interest earned for the year Interest overdue on loans to— £s. d. ended 31st March, 1928 — | Settlers .. .. 7,308 0 6 Settlers Branch .. .. 79,755 1 7 | Workers .. .. 533 2 7 Workers Branch.. .. 3,982 16 9 I Local bodies .. .. 1,415 11 3 Local Authorities Branch.. 16,832 17 9 I 9,256 14 4 Interest accrued on loans to— 2,554,326 19 9 Settlers .. .. 12,454 0 5 Net profits transferred from Workers .. .. 742 18 11 Settlers Branch .. .. 27,790 11 9 Local bodies .. .. 3,451 5 1 16,648 4 5 2,582,117 11 6 Cash in hand and in bank at 31st March, 1928 568 4 4 Less redemption of loans— Settlers Branch £126,700 Workers Branch £187,000 313,700 0 0 ! Total fund as at 31st March, 1928 .. ..2,268,417 11 6 Advances Suspense Account .. .. 1,096 111 Suspense Account .. .. .. .. 240 12 2 £2,269,754 5 7 | £2,269,754 5 7 Interest Account for the Year ended 31st March, 1928. Dr. £ s. d. Cr. £s.d.£ s. d. To Interest on investments—Transferred to Sink- By Interest on loans to— ins Fund Account .. .. .. 100,570 16 1 Settlers .. .. .. 52,011 13 2 Workers .. .. .. 3,146 17 II Local bodies .. .. 20,468 2 6 75,626 13 7 Less overdue and accrued at 31st March, 1927 .. .. 27,160 611 48,466 6 8 Interest on bank balances .. .. 163 0 8 Interest on outstanding payments .. 118 Interest on temporary advances to Settlers ■ Branch.. .. .. .. .. 26,035 8 4 Interest overdue at 31st March, 1928, on loans to — £s. d. Settlers .. .. .. 7,308 0 6 Workers .. .. .. 533 2 7 Local bodies .. .. 1,415 11 3 9,256 14 4 Interest accrued at 31st March, 1928, on loans to— Settlers .. .. .. 12,454 0 5 Workers .. .. .. 742 18 11 Local bodies .. .. 3,451 5 1 16,648 4 5 £100,570 16 1 £100,570 16 I Wm. Waddel, Superintendent. State Advances Office, Wellington, 23rd August, 1928. R. Robertson, Accountant. I hereby certify that 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. 0. Campbell, Controller and Auditor-General.

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