B.—l [Pt. IVI.

STATE ADVANCES OFFlCE—continued. RURAL ADVANCES BRANCH. Statement or Liabilities and Assets as at 31st March, 1932. Liabilities. £ s. d. Assets. £ s. d. Bonds issued .. .. .. .. 4,001,650 0 0 Investment Account —Principal owing by mortTemporary advances from Settlers Branch .. 935,000 0 0 gagors .. .. .. .. .. 4,582,617 6 8 Advances Suspense Account .. .. 6,280 0 0 Interest on mortgages— £ s. d. Fire Loss Suspense Account .. .. 4,055 0 0 Overdue .. .. 152,529 11 3 Suspense Account .. .. .. 149 6 4 Accrued .. .. 68,481 4 7 Sundry creditors .. .. .. .. 26 1 6 221,010 15 10 Income-tax Suspense Account .. .. 7,346 13 2 Sundry debtors .. .. ... .. 146 17 1 Interest on loans accrued but not due .. 8,720 19 6 Realization Suspense Account .. .. 1,903 19 0 Reserve for bad debts .. .. .. 9,903 19 0 Loan Charges Account .. .. .. 189,959 6 0 Profit and Loss Account .. .. .. 23,036 2 6 Cash in hand and ill bank at 31st March, 1932 .. 529 17 5 £4,996,168 2 0 £4,996,168 2 0 Profit and Loss Account for the Year ended 31st March, 1932. Dr. £ S. d. Gr. £ s. d. To Management Expenses Account .. .. 5,414 5 9 By Interest Account—Gross profits .. .. 42,676 19 5 Loss on realization of securities and doubtful securities written down .. .. 9,903 19 0 Loan-flotation charges written down .. 12,663 19 0 Income-tax .. .. .. 8,518 1 9 Balance —Net profits for the year.. .. 6,176 13 11 £42,676 19 5 £42,676 19 5 £ s. d. £ s. d. To Balance —Net profits carried forward .. 23,036 2 6 By Balance as at 31st March, 1931 .. .. 16,859 8 7 Net profits for the year .. .. .. 6,176 13 11 £23,036 2 6 £23,036 2 6 Interest Account for the Year ended 31st March, 1932. Dr. £ s. d. £ s. d. Or. £ s. d. £ s. d. To Interest on bonds .. 199,129 16 0 By Interest on mortgages .. 179,730 14 4 Less accrued at 31st Less overdue and accrued March, 1931 .. 8,508 19 9 at 31st March, 1931.. 116,772 2 8 190,620 16 3 62,958 11 8 Interest on bonds accrued but not due 8,720 19 6 Interest on temporary investments .. 14 0 11 Interest on amounts temporarily transferred Interest on bank balances .. .. 69 0 6 from Settlers Branch .. .. .. 42,033 13 9 Interest on mortgages— £ s. d. Balance—Gross profits transferred to Profit Overdue at 31st March, and Loss Account . .. .- 42,676 19 5 1932 .. .. 152,529 11 3 Accrued but not due at 31st March, 1932 .. 68,481 4 7 221,010 15 10 £284,052 8 11 £284,052 8 11 Management Expenses Account for the Year ended 31st March, 1932. Dr. £ s. d. Gr. £ s. d. To Audit Office services .. .. .. 130 0 0 By Consent fees .. .. .. .. 010 0 Cleaning, lighting, heating, and messenger Cost of preparation of mortgages .. .. 3 2 6 services .. . ■ • • ■ • 75 0 0 Production fees .. .. .. .. 49 10 0 Postages and telegrams .. .. .. 399 19 3 Release fees .. .. .. .. 4 5 0 Post Office servioes .. . . .. 275 0 0 Sundries .. .. .. .. .. 0 16 6 Printing and stationery .. .. .. 200 0 0 Balance transferred to Profit and Loss Account 5,414 5 9 Public Service Superannuation Fund contribution .. .. .. • • ■. 53 0 0 Rent .. .. • • ■ ■ • • 350 0 0 Salaries .. .. .. •• •• 3,730 0 0 Travelling-expenses . . .. .. 61 11 0 Valuation Department —Contributory fees .. 197 19 6 £5,472 9 9 £5,472 9 9 E. 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 the position as disclosed thereby. — J. H. Fowler, Deputy Controller and Auditor-General,

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