11

8.—13.

MISCELLANEOUS BUSINESS BRANCH. HOUSING ACCOUNT.

Statement op Liabilities and Assets as at 31st March, 1928. Liabilities. Assets. Sundry loans-— £ s. d. £ s. d. Investment Account—Principal £ s. d. £ s. d. Debentures .. .. 412,388 9 4 owing on — Expenditure from Public Dwellings purchased .. 409,118 10 2 Works Fund .. .. 319,918 1 7 Sections purchased .. 3,643 16 8 Advances.. .. .. 365 1 6 732,306 10 11 Loans on mortgage .. 195 9 0 Less loan-moneys redeemed 413,322 17 4 and discharged from Con- Temporary advances to Settlers Branch .. 217,700 0 0 solidated Fund .. 19,468 9 4 Hutt Housing Suspense Account .. .. 74,226 0 0 Completed dwellings .. .. .. 15,100 6 0 712,838 1 7 Dwellings let .. .. .. .. 19,347 4 2 Less loan-moneys redeemed Freehold land .. .. . . . . 36,244 3 3 by Public Debt Repay- Sinking Fund investments held by Public Debt ment Account.. .. 100 0 0 Redemption Fund .. .. .. *3,904 4 8 712,738 1 7 Insurance Fund investment held by Settlers Liability to Consolidated Fund in terms of sec-' Branch .. .. .. .. .. 4,392 8 0 tion 22, Finance Act, 1926 .. .. .. 100 0 0 Sundry debtors .. .. .. .. 965 6 5 Sundry creditors .. .. .. .. 2,066 8 0 Interest on dwellings and land— £ s. d. Income-tax Suspense Account. . .. .. 224 14 0 Overdue .. .. .. 6,949 13 0 Suspense Account .. .. .. .. 3,084 6 9 Accrued .. .. .. 64 15 7 Liability to Railway Department (Hutt housing).. 78,779 0 0 7,014 8 7 Insurance Fund .. .. .. .. 5,607 19 8 Rent overdue .. .. .. .. 2,223 19 8 Interest on loans — £ s. d. Insurance premiums— £ s. d. Overdue .. .. .. 17,464 3 10 Overdue .. .. .. 475 11 3 Accrued .. .. .. 3,890 14 5 Paid in advance .. .. 391 2 2 21,354 18 3 866 13 5 Sinking Fund .. .. .. .. 549 410 Profit and Loss Account .. .. .. 36,134 911 Reserve for losses on realization and bad debts .. 6,987 2 2 Cash in hand and in bank at 31st March, 1928 .. 49 13 10 £831,491 15 3 £831,491 15 3 * This amount includes the sum of £3,354 19s. lOd. capital paid into the Sinking Fund in accordance with the Public Debt Extinction Act, 1910. Promt and Loss Account for the Year ended 31st March, 1928. Dr. £ s. d. Cr. £ s. d. To Management Expenses Account .. .. 2,107 19 9 By Interest Account—Gross profits .. .. 3,868 410 Dwellings maintenance .. .. .. 338 17 5 Sale of land and dwellings .. .. 701 18 2 Losses on realization of securities, and doubtful securities written down .. .. .. 889 5 7 Balance —Net profits for the year .. .. .1,234 0 3 £4,570 3 0 £4,570 3 0 £ s. d. £ s. d. To Balance as at 31st March, 1927 .. .. 37,143 16 2 By Net profits for the year .. .. .. 1,234 0 3 Income-tax .. .. .. .. 224 14 0 Balance .. .. .. .. 36,134 9 11 £37,368 10 2 £37,368 10 2 Interest Account for the Year ended 31st March, 1928. Dr. £ s. d. £ s. d. Cr. £ s. d. £ s. d. To Interest on loans .. .. 28,753 2 6 By Interest on land and dwellings 23,848 11 0 Less accrued at 31st March, Less overdue and accrued at 1927 .. .. .. 4,000 9 2 31st March, 1927 .. 7,167 3 0 24,752 13 4 j 16,681 8 0 Interest on loans accrued but not due .. 3,890 14 5 Interest on amounts temporarily transferred to Balance —Gross profits transferred to Profit other branches .. .. .. 8,777 11 0 and Loss Account .. .. .. 3,868 4 10 Interest on bank balances .. .. .. 38 5 0 Interest on dwellings and land— £ s. d. Overdue at 31st March, 1928 6,949 13 0 Accrued but not due at 31st March, 1928 .. 64 15 7 — 7,014 8 7 £32,511 12 7 j £32,511 12 7 Management Expenses Account for the Year ended 31st March, 1928. Dr. £ s. d. Cr. . £ s. d. To Audit Office services .. .. .. 175 0 0 By Sundry fees .. .. .. .. 267 2 2 Cleaning, lighting, heating, and messenger Balance transferred to Profit and Loss Account 2,107 19 9 services . • • • • • • ■ 30 0 0 Fees paid for special services in respect of securities .. • • • • • • 116 4 2 Postages and telegrams .. .. .. 30 2 9 Post Office services .. .. .. 200 0 0 Printing and stationery . . .. .. 75 0 0 Public Service Superannuation Fund contribution .. . • • ■ • ■ •■ 30 0 0 Rent .. ■ • • • • • • • 100 0 0 Salaries .. • • ■ • • • 1 > 365 0 0 Solicitors' costs .. .. ■. ■ • 315 0 Valuation Department—Agency work .. 250 0 0 £2,375 1 11 £2,375 1 11 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. C. Campbell, Controller and Auditor-General.