B.—l [PT. IV SUP. TO 1928],

38

LANDS AND SURVEY DEPARTMENT —continued. SECONDARY-EDUCATION ENDOWMENT DEPOSITS ACCOUNT. Receipts and Payments Account for the Year ended 31st March, 1928. Receipts. £ s. d. Payments. £ s. d. To Balance in Deposit Account, Ist April, 1927 .. 4,414 9 0 By Payments to secondary schools .. .. 8,280 3 7 Rents under section 4, Education Reserves Reimbursement to Consolidated Fund of Amendment Act, 1924 .. .. .. .11,033 12 4 amount paid as compensation for improveInterest on investments held by Public Trustee 41 15 9 ments under section 3, Education Reserves Amendment Act, 1913 .. .. .. 1,843 10 4 Interest on payments from the Consolidated Fund under section 3, Education Reserves Amendment Act, 1924 .. .. .. 292 18 1 Administration expenses .. .. .. 556 16 4 Survey costs, &c. .. .. .. 46 12 6 Maintenance and repairs .. .. .. 31 6 1 Refunds of revenue .. .. .. 36 16 1 Balance in Deposit Account, 31st March, 1928.. 4,401 14 1 £15,489 17 1 £15,489 17 1 Revenue Account for the Year ended 31st March, 1928. Dr. £ s. d. Cr. £ s. d. To Loan repayments (principal and interest) under By Accrued rent .. .. .. .. 11,316 5 9 section 47, Land for Settlements Act, 1925.. 328 17 10 Interest on cash held by Public Trustee .. 41 15 9 Survey costs, insurance premiums, &c. .. 74 15 7 Balance from previous year .. .. 2,668 10 1 Administration expenses .. .. .. 554 8 1 Interest on payments from the Consolidated Fund under section 3, Education Reserves Amendment Act, 1924 .. .. .. 46 19 1 Irrecoverable rents .. .. .. 56 8 2 Remissions and rents written off under Deteriorated Land Act, 1925 .. .. 91 15 0 Remissions of rent granted consequent upon determination of Dominion Revaluation Board under Discharged Soldiers Settlement Amendment Act, 1923 .. .. .. 93 10 0 Reserve for irrecoverable rents .. .. 14 6 9 Payments to secondary schools .. .. 8,280 3 7 Balance .. .. .. .. 4,485 7 6 £14,026 11 7 £14,026 11 7 Balance-sheet as at 31st March, 1928. Liabilities. £ s. d Assets. Capital, including loading for roads, &c. .. 183,399 110 Endowment land— £ s. d. Appreciation in land-values .. .. .. 42,162 18 3 Leased .. .. .. .. .. 218,205 3 2 Sundry creditors — Unleased .. .. .. .. .. 8,039106 Miscellaneous .. .. .. .. 14 5 1 Sundry debtors for — £ s. d. Rents paid in advance .. .. .. 127 9 8 Rent .. .. .. 1,255 8 10 Rotorua College and Grammar School .. .. 3,842 8 0 Less reserve for irrecoverable Rents charged in advance .. .. .. 2,510 18 3 rents .. .. .. 25 0 0 Writings off Suspense Account .. .. 20 9 2 1,230 8 10 Revenue Account—Balance .. .. .. 4,485 7 6 Miscellaneous .. .. .. .. 26 19 10 Overpayment to secondary schools .. .. 3,842 8 0 Outstanding rents, Suspense .. .. .. 20 9 2 Cash held by Public Trustee .. .. .. 796 4 2 Cash in Deposit Account .. .. .. 4,401 14 1 £236,562 17 9 £236,562 17 9 J. B. Thompson, Under-Secretary lor Lands. J. H. O'Donnell, Controller of Accounts. I hereby certify that the Statement of Receipts and Payments, 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 : The Capital Account includes the total amount for which the land was loaded for roading, &c., whereas the unexpended portion (if any) and liability to the Opening-up Crown Lands Account should be shown separately.-—G. F. C. Campbell, Controller and Auditor-General.