7

o.—B

HAURAKI PLAINS SETTLEMENT ACCOUNT— continued. Balance-sheet as at 31st March, 1928. Liabilities. A ssels. Capital Account— Improved land handed over to Land Board for Debentures issued under Hauraki £ s. d. £ s. d. settlement — £ s. d. £ s. d. Plains Act, 1926 .. .. 740,000 0 0 Leased .. .. .. 182,783 5 0 Expenditure from Public Works Unleased .. .. .. 18,768 5 0 Eund .. .. .. 5,070 0 0 201,55110 0 Value of Crown land set apart Unpaid purchase price of land sold on deferred under the Act .. .. 45,000 0 0 payment .. .. .. .. 2,644 0 0 790,070 0 0 Unimproved lands not yet disposed of .. .. 44,375 5 I Discharged Soldiers Settlement Account (merged Improvements on adjoining Crown lands .. 7,710 0 0 interests under section 20, Discharged Soldiers Permanent reserves .. .. .. .. 8,851 0 0 Settlement Amendment Act, 1923) .. 116 0 0 Works in progress—Expenditure on land in proConsolidated Eund— cess of reclamation, including formation and Interest on debentures under metalling of roads .. .. .. .. 430,222 18 3 Local Bodies' Loans Act, £ s. d. Artesian wells— £ s. d. 1908 .. .. .. 22,083 6 8 Crown tenants, Hauraki Plains 1,232 2 5 Interest on expenditure out of Permanent reserves and Crown Public Works Fund .. 4,056 0 0 lands .. .. .. 216 10 9 Rates unpaid, 1917-21 .. 48 2 4 1,44813 2 26,187 9 0 Buildings .. .. .. .. .. 6,658 1 0 Interest on debentures under Wharves .. .. .. .. .. 5,050 0 0 Hauraki Plains Act, 1926 .. 97,561 16 3 Machinery and plant .. .. .. 55,648 11 0 Less accumulated losses written Live-stock .. .. .. .. '.. 198 4 0 off under section 22 of the Loose tools .. .. .. .. .. 370 6 3 Finance Act, 1927 (No. 2) .. 55,722 1.6 5 Stores and fuel .. .. .. .. 8,504 18 10 41,838 19 10 Sundry debtors for— £ s. d. Interest on debentures, accrued but not due .. 5,910 6 0 Rents, &c. .. .. .. 4,598 6 4 Sundry creditors .. .. .. .. 4,160 3 9 Instalments on principal on deRents, &c, paid in advance .. .. .. 215 18 9 ferred-payment sales .. 127 2 7 Rents charged in advance .. .. .. 2,795 0 0 Interest on doferred-payment Writings-off in suspense .. .. .. 79 14 4 sales .. .. .. 106 10 1 Reserve Account .. .. .. .. 5,850 17 4 Interest on well-boring .. 137 7 7 Law-costs .. .. .. 40 6 2 Rates .. .. .. 8,512 12 6 Tram freights .. .. 272 10 4 Miscellaneous .. .. 2,331 6 6 16,126 2 1 Postponed rent .. .. .. .. 682 16 2 Writing-off in suspense .. .. .. 79 14 4 Revaluation Board determinations from Ist April, 1927, to 31st March, 1928— £ s. d. Reduction in value of lands .. 3,965 0 0 Rents written off .. .. 33 3 6 Remissions of rent .. .. 276 6 8 4,274 10 2 Interest accrued, but not due on sales of land .. 39 0 0 Investment in Public Debt Redemption Fund .. 8,132 4 8 Revenue Account —Balance .. .. .. 64,107 II I Cash in hands of Post Office .. .. .. 153 13 7 Cash in Public Account .. .. .. 10,395 9 4 £877,224 9 0 £877,224 9 0 J. B. Thompson, Under-Secretary for Lands. J. H. O'Donnell, Controller of Accounts. I hereby certify that the Receipts and. Payments and Revenue Accounts and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby. The following comments are appended : (a) In the opinion of the Audit Office interest charged on works in progress should be capitalized; (b) a Bad Debts Reserve should be created; (c) suggestions in reference to the treatment of expenditure on lands already handed over for settlement have been made to the Department; (d) interest on the amount held, in the Public Debt Redemption. Fund has been compounded whereas there is no statutory provision therefor.—G. F. C. Campbell, Controller and Auditor-General.

Approximate Cost of Paper. —Preparation, not given; printing (700 ooples, including map), £42.

Authority : W. A. G. Skinmr, Government Printer, Wellington.- 1928,

Price Is. 3d.}