B.—l [Pt. IV].

STATE ADVANCES OFFlCE— continual. ADVANCES TO WORKERS BRANCH. Statement of Liabilities and Assets as at 31st March, 1931. Liabilities, £ s. d. Assets. £ s. d. Sundry loans .. .. .. .. 13,366,549 10 4 Investment Account—Principal owing by Temporary advances from Settlers Branch .. 2,340,000 0 0 mortgagors .. .. .. .. 15,276,957 3 7 Liability to Railway Department (Railway Sinking Fund investments held by Advances housing) .. .. .. .. 14,300 0 0 ! Office Sinking Fund Account .. .. 78,561 18 5 Advances Suspense Account .. .. 46,315 0 2 ! Interest on mortgages— £ s. d. Fire Loss Suspense Account .. .. 1,514 6 6 Overdue .'. .. 158,311 19 0 Income-tax Suspense Account .. .. 6,819 14 0 Accrued .. .. 200,385 15 6 Sundry creditors .. .. .. 504 5 0 358,697 14 6 Interest on loans accrued but not due .. 111,632 10 2 Interest on temporary investments, overdue 012 1 Reserve for bad debts .. .. .. 13,788 18 5 Unregistered Transfers Account (Railway Sinking Fund .. .. .. .. 78,561 18 5 employees) .. .. .. .. 14,300 0 0 Sundry debtors .. .. .. .. 6,723 1 2 Realization Suspense Account .. .. 13,788 18 5 Loan Charges Account .. .. .. 195,374 5 9 Profit and Loss Account .. .. .. 31,812 9 4 Cash in hand and in bank at 31st March, 1931 3,769 19 9 £15,979,986 3 0 £15,979,986 3 0 Profit and Loss Account for the Year ended 31st March, 1931. Or- £ s. d. Cr. £ s. d. To Management Expenses Account .. .. 9,403 8 0 By Interest Account—Gross profits .. .. 60,991 17 10 Loss on realization of securities .. .. 17,941 5 1 Loan-flotation charges written down .. 16,000 17 5 Income-tax .. .. .. .. 7,449 14 0 Balance —Net profits for the year .. .. 10,196 13 4 £60,991 17 10 £60,991 17 10 £ s. d. £ s. d. To Balance as at Ist April, 1930 .. .. 42,009 2 8 By Net profits for the year .. .. .. 10,196 13 4 Balance .. .. .. .. 31,812 9 4 £42,009 2 8 £42,009 2 8 Interest Account for the Year ended 31st March, 1931. Dr - £ s. d. £ s. d. Or. £ s. d. £ s. d. To Interest on loans .. .. 610,680 5 0 By Interest on mortgages .. 725,401 3 4 Less accrued at 31st March, Less interest overdue and 1930 .. .. 101,262 5 2 accrued at 31st March, 509,417 19 10 I 1930 .. .. 291,643 14 10 Interest on amounts temporarily transferred 433,757 8 6 from other branches .. .. .. 121,183 6 8 Interest on bank balances .. ■ .. 208 4 3 Interest on Railway expenditure (erection of Interest on outstanding payments .. .. 69 10 11 dwellings) .. .. .. .. 896 12 9 Interest on temporary investments .. 10,303 13 1 Interest on loans accrued but not due .. 110,547 6 3 Interest on temporary investments, overdue 012 1 Balance—Gross profits transferred to Profit Interest on mortgages — and Loss Account .. .. .. 60,991 17 10 Overdue at 31st March, £ s. d. 1931 .. .. 158,311 19 0 Accrued but not due at 31st March, 1931 .. .. 200,385 15 6 358,697 14 6 £803,037 3 4 £803,037 3 4 Management Expenses Account for the Year ended 31st March, 1931. Dr. £ s . d. Or. £ s . d. To Audit Office services .. .. .. 200 0 0 By Consent fees .. .. .. .. 715 0 Cleaning, lighting, heating, and messenger ser- Cost of preparation of mortgages .. .. 73 6 6 vices .. .. .. .. .. 180 0 0 Production fees .. .. .. .. 510 13 5 Contingencies .. .. .. .. 4 0 0 Release fees .. .. .. .. 107 9 6 Management charges on New Zealand stock and Balance transferred to Profit and Loss Account 9,403 8 0 bonds .. .. .. .. .. 1,235 9 5 Post Offices services .. .. .. 575 0 0 Postages and telegrams .. .. .. 348 6 3 Printing and stationery .. .. .. 250 0 0 Public Service Superannuation Fund contribution .. .. .. .. .. 170 0 0 Rent .. .. .. .. .. 620 0 0 Salaries .. .. .. .. .. 6,043 0 0 Solicitors' costs and Court costs .. .. 7 14 8 Travelling-expenses .. .. .. 119 2 1 Valuation Department—Agency work .. 350 0 0 £10,102 12 5 £10,102 12 5 B. 0. Hales, Superintendent. R. Robertson. Accountant. I hereby certify that the balance-sheet and accompanying accounts have been duly examined and compared with the books and documents submitted for audit, and correctly state ike position as disclosed thereby. — G. F. C. Campbell, Controller and Auditor-General.

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