B—l [PT. IV Sup. TO 1928].

48

MINES DEPARTMENT—continued. MINING ADVANCES ACCOUNT. Income and Expenditure Account foe the Year ended 31st March, 1928. Dr. £ s. d. ! Cr. £ s. d. To Interest on loan capital .. .. 2,187 9 0 By Interest on advances .. .. .. 1,12110 7 Interest on investments .. .. .. 580 7 1 Interest on investment in Public Debt Redemption Fund . . .. .. .. 40 3 3 Balance carried down .. .. .. 445 8 1 £2,187 9 0 £2,187 9 0 £ s. d. £ s. d. To Balance brought down .. .. .. 445 8 1 By Interest to 31st March, 1927, on investment in Public Debt Redemption Fund .. . . 168 10 0 Adjustment of amounts previously charged to the Public Debt Redemption Fund .. 65 16 7 Balance—Net loss .. .. .. .. 210 15 6 £445 8 1 | £445 8 1 Balance-sheet as at 31st March, 1928. Liabilities. £ s. d. Assets. £ s. d. Capital loans under various Acts .. .. 49,050 0 0 Advances .. .. .. .. .. 26,335 10 5 Interest due to Consolidated Fund .. .. 4,359 510 Interest due on advances .. .. .. 6,261 3 4 Interest accrued but not due .. .. .. 770 15 9 Interest on advances accrued but not due .. 206 19 5 Reserve for losses .. .. .. .. 3,582 19 1 Interest on investments accrued but not due .. 50 1 .1 Investment in Public Debt Redemption Fund .. 1,044 3 8 Cash — £ s. d. In Public Account .. .. 7,615 17 6 In Investment Account .. 7,000 0 0 14,615 17 6 Losses — In previous years .. .. 18,262 5 10 Less written off under Appropriation Act, 1927 .. .. 9,223 16 1 9,038 9 9 Loss per Income and Expenditure Account .. .. .. 210 15 6 9,249 5 3 £57,763 0 8 £57,763 0 8 Note.—Loan capital amounting to £12,833 9s. has been redeemed from the Consolidated Fund, being amount of capital losses, £12,791 6s. Id., written off under the 1920, 1924, and 1928 Appropriation Acts, and £42 2s. lid. redeemed from the investment in the Public Debt Redemption Fund. A. H. Kimbell, Under-Secretary for Mines. A. W. Gyles, A.1.A.N.Z., Accountant. I hereby certify that the Income and Expenditure 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.—G. F. C. Campbell, Controller and Auditor-General.