B.—l [Pγ. IV].

PUBLIC DEBT REDEMPTION FUND. Showing the Net Cost to the Taxpayers of Debt-reduction under the Repayment of the Public Debt Act, 1925. Revenue Account foe the Yeae ended 31st Maech, 1931. Dr. 1 Or. To Public Debt Repayment Account—Payments £ s. d. !By Interest on Public Debt Redemption Fund— £ s. d. from Consolidated Fund — Public Trust Office .. .. .. 418,135 4 1 i per cent, on public debt outstanding at State Advances .. .. .. 156,325 6 7 31st March, 1930 .. .. .. 981,619 11 3 Discharged Soldiers Settlement Account.. 434,000 0 0 J per cent, on public debt redeemed to 31st Excess of expenditure over revenue .. 198,598 110 March, 1930 .. .. .. 25,180 3 6 3J per cent, on public debt redeemed to 31st March, 1930 .. .. .. 176,261 4 9 3 i per cent, on public debt cancelled during year .. .. .. .. 23,997 13 0 £1,207,058 12 6 I £1,207,058 12 6 ===== I ~ - Balance-sheet as at 31st Maeoh, 1931. Liabilities. £ s. d. I Assets. Public Debt Redemption Fund .. .. 22,075,644 10 6 ! Investments — £ s . d. Treasury Adjustment Account .. .. 434,121 8 11 ! Public Trust Office .. .. .. 7,966,688 11 2 State Advances Office .. .. .. 3,258,955 19 4 Discharged Soldiers Settlement Account . . 10,850,000 0 0 Interest accrued— Public Trust Office .. .. .. 2,629 8 1 State Advances Office .. .. .. 36,332 10 1 Discharged Soldiers Settlement Account .. 35,671 4 8 Interest due and unpaid— State Advances Office .. .. .. 16,223 10 11 Discharged Soldiers Settlement Account .. 144,666 13 4 Excess of expenditure over income .. .. *198,598 110 £22,509,765 19 5 ; £22,509,765 19 5 * .Note. —This figure represents the amount by which the contributions from the Consolidated Fund to the Public Debt Repayment Account in terms of the Repayment of Public Debt Act, 1925, exceed the receipts from income on the Public Debt Redemption Fund, and is therefore the net cost to taxpayers on account of debt-reduction under the Act for the financial year, 1930-31. G. C. Rodda, F.R.A.N.Z., Accountant to the Treasury. 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, subject to the above departmental note. —G. F. C. Campbell, Controller and Auditor-General.

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