19

c.—9

LAND FOR SETTLEMENTS ACCOUNT (DISCHARGED SOLDIERS SETTLEMENT ACCOUNT). Revenue Account fob the Year ended 31st March, 1929. Dr. £ s. d. Gr. £ s . d. To Administration expenses .. .. 2,005 11 3 By Accrued rents, &c. .. .. .. 80,258 15 8 Depreciation in land-values .. .. 21,785 3 10 Accrued royalties .. .. .. 8 10 improvements to settlements (vote "Ex- Interest on sales.. .. .. .. 1,010 4 6 penses") .. .. .. 1,268 8 2 Interest on investments .. .. .. 1,119 12 2 Interest on loans .. .. .. 79,242 1 7 Interest allowed on sinking-fund contributions 1,301 6 1 Irrecoverable rents, &c. .. .. 5,305 7 7 Balance carried down .. .. .. 38,191 10 11 Losses under Deteriorated Lands Act, 1925— £ s. d. Remissions of rent .. 609 14 10 Rents written off .. 932 12 10 1,542 7 8 Losses consequent upon determinations of Dominion Revaluation Board — Remissions of rent .. 1,522 17 4 Rents written off .. 666 8 10 2,189 6 2 Rebates .. .. .. .. 5,786 0 9 Remissions of rent .. .. .. 2,765 3 4 £121,889 10 4 £121,889 10 4 £ s. d. To Balance brought down .. .. 38,191 10 11 By Accumulated revenue loss written off under £ s. d. Balance from previous year .. .. 223,797 6 8 section 22, Finance Act, 1927 (No. 2) .. 223,797 6 8 Adjustment on account of previous years 5,401 4 0 Balance carried forward .. .. .. 43,592 14 11 £267,390 1 7 £267,390 1 7 Balance-sheet as at 31st March, 1929. Liabilities. Assets. Capital Account — £ s. d. £ s. d. Estates — £ s. d. £ s. d. Debenture Account .. 3,077,050 0 0 Leased .. .. 1,693,436 0 10 Crown lands in estates .. 1,712 0 0 Unleased .. .. 31,377 2 3 ——— 1,724,813 3 1 3,078,762 0 0 Unpaid purchase price (not Less capital reductions yet payable)— under section 22, Finance Land .. .. .. 18,615 16 0 Act, 1927 (No. 2) .. 1,138,600 0 0 Buildings .. .. 66,593 13 0 1,940,162 0 0 — 85,209 9 0 Sundry creditors — Sundry debtors — Interest accrued but not Rents .. .. 24,009 2 2 due on loans .. 10,641 2 7 Less reserve for irreMiscellaneous .. .. 515 6 4 coverable rents .. 1,500 0 0 11,156 8 11 Payments in advance — 22,509 2 2 Rents .. •• 1,373 12 1 Principal instalments on Principal instalments on buildings .. .. 919 011 buildings .. ■ ■ 48 14 5 Principal instalments on Principal instalments on sales of land .. . . 329 3 8 sales of land .. .. 306 15 4 Interest on sales of land 298 19 2 1,729 1 10 Interest on purchase price Rents charged in advance .. .. .. 19,583 12 4 Mataikona Estate .. 22,787 8 8 Writings-off in Suspense .. .. .. 5,156 18 0 Consolidated Fund for Accumulated losses written off under Section 22, overpaid interest .. 129 8 6 Finance Act, 1927 (No. 2) — Miscellaneous .. .. 22 15 6 Remissions of interest due £ s. d. 46,995 18 7 to Consolidated Fund .. 547,857 7 10 Postponements outstandingReduction of Capital Ac- Rent .. .. .. 37,130 17 5 count .. •• 1,138,600 0 0 Principal instalments on Reserve Account .. 117,891 8 1 buildings .. .. 713 17 7 Interest on sales .. 64 11 5 As per contra ■■ 1,804,348 15 II -— 37,909 6 5 Reserve .. •• 150,014 7 I Interest accrued but not due on sales of land 272 15 4 Losses in Suspense .. .. .. 5,156 18 0 Less written off — Revenue Account.. .. .. .. 43,592 14 11 Adjustments of land- Accumulated losses written off under Section 22, values .. .. 27,927 10 9 Finance Act, 1927 (No. 2)— Dominion Board reduc- Revenue Account — £ s. d. tions —land and build- Loss to 31st March, 1928 363,149 3 9 ings .. .. 18,419 9 9 Reserve for unascertained Sundry adjustments .. 243 15 9 loss .. . . 150,000 0 0 Depreciation in land- Depreciation in landvalues .. .. 103,423 10 10 values .. .. 175,906 8 5 Revaluation Board re--150,014 7 1 ductions .. .. 1,115,293 3 9 As per contra .. .. 1,804,348 15 11 Investment in Public Debt Redemption Fund 33,833 19 0 Cash in Public Account .. .. .. 316 9 £3,782,136 17 0 £3,782,136 17 0 J. B. Thompson, Under-Secretary for Lands. 10th July, 1929. J. H. O'Donnell, Controller of Accounts. I hereby certify that the Revenue Account 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 comment is appended : In the opinion of the Audit Office the loss on the Mataikona Settlement, £46,277 9s. 9d., should be separately shown in the accounts. —G. F. C. Campbell, Controller and Auditor-General.

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