B.—l [PT. IV Sup. TO 1928],

54

NAVAL DEFENCE. Income and Expenditure Account fob the Year ended 31st March, 1928. Expenditure. £ s. d. Income. £ s. d. To Salaries, wages, and overtime .. .. 234,476 10 0 By Purchase of discharges of New Zealand ratings 157 0 0 Clothing, victualling, &c. .. .. .. 49,987 3 2 Balance carried down .. .. .. 470,280 2 7 Medical services .. .. .. 2,480 11 6 Repairs .. .. .. .. 44,424 7 5 Lighting and fuel .. .. .. 39,780 010 Stores, expenses incidental to .. .. 29,318 17 8 Works .. .. .. .. .. 948 1 9 Reserves, courses of instruction .. .. 6,388 13 0 Advertising .. .. .. .. 611 1 4 Freight .. .. .. .. 6,818 8 0 Passages .. .. .. .. 9,665 1 1 Rent .. .. .. .. .. 276 17 7 Training in England .. .. .. 3,860 5 9 Trawler expenses .. .. .. 1,061 3 3 Deferred pay .. .. £35,862 16 0 Less deferred pay forfeited 1,176 18 0 34,685 18 0 Panama Canal dues .. .. .. 1,151 18 2 Printing and stationery .. .. .. 724 19 4 Miscellaneous .. .. .. .. 3,495 2 1 Depreciation .. .. .. .. 282 2 8 £470,437 2 7 £470,437 2 7 £ s. d. £ s. d. To Balance brought down .. .. .. 470,280 2 7 By Balance .. .. .. .. 604,251 6 7 Grant to Singapore Base .. .. .. 125,000 0 0 Interest on capital .. .. .. 8,971 4 0 £604,251 6 7 £604,251 6 7 Note.—lncluded in the above account is a charge for interest on capital which is not reflected in the Navy Office's appropriations. Balance-sheet as at 31st March, 1928. Liabilities. £ s. d. Assets. £ s. d. Capital Account as at Ist April, 1927 .. .. 199,360 011 Buildings .. .. .. .. .. 45,834 16 9 Depreciation Reserve .. .. .. 282 2 8 Land at Devonport .. .. .. 15,505 0 0 Sundry creditors .. .. .. .. 832 10 1 Plant and fittings .. .. .. .. 32,869 3 3 Amount due for Naval remittances .. .. 3,672 2 7 Stores on hand .. .. .. .. 117,146 3 9 Treasury Adjustment Account .. .. 615,366 14 2 Sundry debtors .. .. .. .. 234 17 6 Deposits Account—Naval remittances.. .. 3,672 2 7 Excess of expenditure over income— £ s. d. Departmental .. .. 479,251 6 7 Singapore Base .. .. 125,000 0 0 604,251 6 7 £819,513 10 5 £819,513 10 5 E. N. R. Fletcher, Naval Secretary. 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, subject to the above departmental note. —G-. F. C. Campbell, Controller and Auditor-General.