B.—l [Pt. IV]

STATE BALANCE-SHEET AS AT 31st MARCH, 1934. Liabilities. Assets. Ca-Tiital ' £ s. d. Land and buildings, including Crown, settlement, and £ s. d Public debt* .. •• 306,841,996 311 endowment land, departmental land and buildings 41,968,995 15 5 Rural Advances bonds " '. 4',213,050 0 0 State forests, nurseries, and plantations .. .. 38,037,640 7 1 Public Debt Redemption Fund .. 19,225,644 10 6 Railways, including permanent-way and works, cn Aon n „ A o Creditors rolling-stock, and unopened lines .. .. 59,029,270 16 8 Sundry .. .. •• 2,185,547 6 9 Telegraphs, telephones, and wireless systems .. 10,964,418 19 11 Interest on debentures and stock Electrical schemes 12,578,497 14 6 due and unpaid* . .. 52,416 17 3 Drainage and irrigation schemes .. .. 4,042,537 14 6 Interest accrued but not due* .. 2,331,491 0 0 Collieries, sawmills quarries, &c. .. 396,649 0 3 Wages and other payments accrued 7,085 18 4 Armament and military stores, aviation equipment 2,871,437 19 2 Payments in advance, &c 408,358 3 11 Oyster-beds, fish-hatcheries, equipment &c. .. 10 7 -Rpqprvpq Wharves, bridges, harbour-works, lighthouses, &c... 828,864 3 4 General .. •• 3,891,384 9 3 Plant, material, and furniture .. .. .. 3,229,994 5 8 Sinking fund and reserves for loan- Libraries, books, museum exhibits, stationery, redemption .. .. •• 3,296,319 8 2 stamps, &c... .. .. • • •• 376,794 6 3 Depreciation .. .. 7,996,371 5 1 Live and dead stock, farm crops, &c. .. ... 234,511 8 0 Fire, accident, and marine insurance, Government steamers, launches, motor-cars, &c. .. 566,656 6 7 bad debts, &c. .. .. 893,244 10 3 Advances on loan or mortgage .. .. .. 57,476,457 8 6 Amount held on deposit .. .. 1,027,210 17 1 Debtors Suspense . .. .. 258,935 14 11 Sundry .. .. ... • • 2,275,020 13 8 Post Office investment and war-loan Unpaid purchase-price of land and buildings and certificates . •• 1,560,673 210 interest thereon .. .. .. .. 2,264,759 2 4 Miscellaneous liabilities .. .. '49,217 19 6 Postponed rents, &c ■ • ■ • " 370,816 14 10 Excess of assets over liabilities .. 48,638,674 2 1 Interest and rent, due and unpaid, and due and 0 in , accrued"' .. .. . ■ .. . ■ o, 693,154 12 4 Special investments — Nauru phosphate rights .. .. .. 565,040 0 0 Bank of New Zealand shares .. .. .. 2,109,375 0 0 Public Trust Office (Public Debt Redemption Fund, &c.) .. .. •• 8,137,529 5 2 Special assets of various accounts — Native land schemes, &c. .. .. .. 921,356 3 1 Unallocated loan charges .. .. .. 750,660 5 8 Earthquake expenditure .. •• .. 22,725711 Payments in advance .. .. •• • • 315,007 13 1 Properties acquired by Crown and properties in course of realization .. .. .. 990,110 7 2 Investments — Reserve Fund .. .. .. •• 327,702 3 4 Sinking funds .. .. •• •• 372,652 16 7 Miscellaneous, including investment of Treasury accounts .. .. •• •• 24,788,639 14 0 National Development Account — Expenditure on— £ s. d. Main highways, roads, &c. 27,844,621 17 7 Development of mining .. 867,467 15 11 Education .. 8,161,201 15 6 Immigration .. .. 3,319,398 15 7 Harbour-works .. .. 1,042,508 9 6 Land-development .. 696,454 2 8 Cost of raising loans .. 358,092 3 0 42,289,744 19 9 Other loan expenditure — War expenditure .. .. 66,528,021 0 2 Naval defence .. .. 1,389,656 1 5 Local bodies .. .. 3,037,229 19 2 Maori-land settlement .. 247,050 0 0 Miscellaneous .. .. 6,163,496 18 8 77,365,453 19 5 Cash — New Zealand Government Indemnity Exchange Account 1,000, 000 0 0 Public Account .. .. 778,179 3 6 Receiver-General .. .. 2,818 8 11 State Advances Office Account 62,568 1 11 Post Office or Post Office Savings-bank .. .. 464,151 7 8 Deposit accounts .. .. 118,718 18 7 In hand and in transit .. 83,742 5 9 Deposit with Bank of International Settlements .. 36,023 0 0 2,546,201 6 4 Miscellaneous assets .. . . . • 45,297 8 9 £402,877,621 9 10 £402,877,621 9 10 * See Note (2) below. N OTES _m To account for the whole public debt, loan expenditure on war and other purposes not represented by tangible assets has been included under the heading " Other Loan Expenditure." Interest is received in respect of portion of the local bodies' loan shown above ag public debt> £45146.3 is held by investment accounts within the Public Account. Interest accrued and interest due and unpaid in respect of this sum is also shown in both sides of the Balance-sheet. (3) Contingent liabilities : — Subsidies (not including accumulated interest) short paid to— £ s. d. Teachers' Superannuation Fund .. •• •• •• 1,340,084 0 0 Public Service Superannuation Fund .. .. .. .. 2,104,067 0 0 3,444,151 0 0 Excess of subsidies recommended by Actuary over subsidies paid : Railway Superannuation Fund .. .. •• •• 1,190,000 0 0 4,634,151 0 0 Local authorities' loans guaranteed by the Govern- £ s. d. ment 2,978,075 0 0 Less Accumulated sinking funds .. 880,107 13 5 2,097,967 6 7 £6,732,118 6 7 A. D. Park, F.1.A.N.Z., F.R.A.N.Z., Secretary to the Treasury. I hereby certify that the above amalgamation of Balance-sheets has been compared with the relative audited accounts, and correctly states the position as disclosed thereby, subject to the departmental notes enfaced thereon.— G. F. C. Campbell, Controller and Auditor-General.

93