E.—lo.

5

MASSEY AGRICULTURAL COLLEGE. Balance-sheet as at 31st Decembek, 1928. Liabilities. j Assets. £ s. d. £ s. d. | Buildings— £ s. d. £ s. d. £ s. d. Capital Account at 31st December, Principal's residence 1927 .. .. .. 5,187 13 9 and administration Additions during year— £ s. d. building .. .. 2,170 12 3 Government grants 33,018 11 1 Cottages .. .. 4,069 18 9 Less unpaid .. 4,743 9 8. Less depreciation 203 911 28,275 1 5 3,866 8 10 Donations .. .. .. 475 10 0 Farm-buildings .. 2,855 3 7 Revenue contributions to capital 4,958 9 0 Less depreciation 129 13 3 38,896 14 2 2,725 10 4 Revenue balance, 31st December, Temporary labora--1927 .. .. .. 6,075 10 9 tories .. 1,205 3 8 Add balance maintenance grant, 1927 200 0 0 Less depreciation 116 15 9 Add surplus of income, 1928 .. 1,420 17 2 1,088 7 11 7,696 7 11 Dairy factory .. .. 11,885 3 3 Sundry creditors .. .. .. 1,024 7 0 Layout plans and plans of proposed main buildings .. 1,577 18 9 Gas-main (main building) .. 670 0 0 Sewerage system (main building) 874 19 2 Water-service (main building) .. 477 5 7 — 25,336 6 1 Farm property improvements .. .. 3,127 3 2 Laboratory apparatus .. .. 1,856 10 11 Less depreciation .. .. 185 13 1 — 1,670 17 10 Library books, &c. .. .. 1,701 10 0 Less depreciation .. .. 170 3 0 ■ 1,5*il 7 0 Office equipment .. .. 192 15 8 Less depreciation .. .. 14 9 2 — — 178 6 6 Furniture .. .. .. 1,076 7 8 Less depreciation .. .. 80 14 6 — 995 13 2 Dairy factory office equipment .. .. 172 14 9 Dairy factory plant .. .. .. 2,063 10 0 Milking-shed equipment .. .. 454 9 3 Less depreciation .. .. 45 8 10 409 0 5 Harness, tools, and implements .. 1,965 7 5 Less depreciation .. .. 398 12 8 — 1,566 14 9 Text-books .. .. .. .. 86 1 10 Sundry debtors .. .. .. .. 1,225 1 3 Carpenters' stores .. .. .. 73 13 9 Farm stock and produce— £ s. d. Dairy cattle .. .. 1,741 14 9 Horses .. .. 273 10 0 Less depreciation 41 0 6 232 9 6 Pigs .. .. .. 354 5 0 Sheep and lambs .. .. 2,100 3 0 Wool .. .. .. 560 0 0 — 4,988 12 3 Cash— Bankof New Zealand 4,917 18 11 Less outstanding cheques .. 780 0 11 ——— 4,137 18 0 Post Office Savings-bank .. 54 8 4 —- 4,192 6 4 £47,617 9 1 £47,617 9 1 The Audit Office, having examined the Balance-sheet and accompanying accounts required by law to be audited, hereby certifies them to be correct, subject to the following comment: The certified details of stock and produce on hand at 31st December, 1928, have been accepted. And the following exceptions : (1) The expenditure of £14 in connection with the " opening day "is without authority of law. (2) The approval of the Minister of Finance was not obtained in accordance with sections 38 and 40 of the Finance Act, 1928, in respect of expenditure incurred on account of the matters referred to therein. (3) The approval of the Minister of Finance was not obtained for the establishment of an Imprest Account as required by section 39, Finance Act, 1928. —G. F. C. Campbell, Controller and Auditor-General.