B.—l [PT. IY

STATE ADVANCES OFFICE —continued. MISCELLANEOUS BUSINESS BRANCH. —HOUSING ACCOUNT. Statement of Liabilities and Assets as at 31st March, 1935. Liabilities. Assets. £ s. d. £ s. d. Investment Account — £ s. d. £ s. d. Sundry loans .. .. .. 412,388 9 4 Advances not due— Less loan liability redeemed and Dwellings purchased ..251,906 1 2 discharged from Consolidated Sections purchased .. .. 1,095 0 8 Fund .. .. .. 19,468 9 4 Advances .. .. 126 12 2 253,127 14 0 392,920 0 0 Instalments of principal overLess loan liability redeemed by due — Public Debt Repayment As- Dwellings purchased .. 6,947 0 0 count .. .. .. 100 0 0 Sections purchased .. 139 2 1 ■ 392,820 0 0 Advances .. .. .. 33 17 1 Liability to Consolidated Fund in terms of sec- 7,119 19 2 tion 22, Finance Act, 1926 .. .. 100 0 0 Sundry creditors .. .. .. ..* 710 Principal owing by mortgagors .. .. 260,247 13 2 Suspense Account .. .. .. 163 8 3 Dwellings let .. .. .. .. 30,222 10 11 Insurance Fund .. .. . - • • 9,206 8 3 Freehold land .. .. .. .. 26,494 5 2 Interest on loans — £ s. d. Sinking Fund investments held by Public Debt Overdue .. .. .. 5,668 15 1 Redemption Fund .. .. .. .. *4,892 5 4 Accrued .. .. .. 5,129 11 6 Insurance Fund investment held by Settlers Branch 7,844 7 4 10,798 6 7 Sundry debtors .. .. .. .. 1,105 11 0 Reserve for bad debts .. .. .. 19,880 18 11 Interest on dwellings and land— £ s. d. Sinking Fund .. .. .. ■. 1,537 5 6 Overdue .. .. .. 7,733 1 2 Accrued .. .. .. 73 5 4 7,806 6 6 Rent overdue .. .. .. . .. 2,028 5 0 Insurance premiums— Overdue .. .. .. 490 0 7 Paid in advance .. .. 208 17 9 698 18 4 Realization Suspense Account .. .. .. 9,738 16 6 Profit and Loss Account .. .. .. 79,551 7 5 Cash in hand and in bank at 31st March, 1935 .. 3,883 110 £434,513 8 6 £434,513 8 6 * This amount includes the sum of £3,354 19s. 10d., capital paid into the Sinking Fund in accordance with the Public Debt Extinction Act, 1910. Profit and Loss Account fob the Year ended 31st March, 1935. Dr. £ s. d. Gr. £ s. d. To Management Expenses Account .. .. 1,665 53 By Interest Account: Gross profits .. .. 1,331 610 Dwellings maintenance .. .. .. 1,483 8 7 Balance: Loss for the year.. .. .. 1,817 7 0 £3,148 13 10 £3,148 13 10 £ s. d. £ s. d. To Balance as at 31st March, 1934 .. .. 77,777 11 4 By Profits from loans to Employers for Workers' Loss for the year .. .. .. .. 1,817 7 0 Dwellings Account .. .. .. 43 10 11 Balance .. .. .. .. .. 79,551 7 5 £79,594 18 4 £79,594 18 4 Interest Account for the Year ended 31st March, 1935. Dr. £ s. d. £ s. d. Gr. £ s. d. £ s. d. To Interest on loans .. .. 13,677 8 2 By Interest on land and dwellings 12,504 15 4 Less accrued at 31st March, Less overdue and accrued at 1934 .. .. 5,063 410 31st March, 1934 .. 7,917 211 8,614 3 4 4,587 12 5 Interest on loans accrued but not due .. 5,12911 6 Interest on amounts temporarily transferred to Balance: Gross profits transferred to Profit and Settlers Branch .. .. .. .. 2,660 8 4 Loss Account .. .. .. •• 1,331 610 Interest on bank balances .. .. .. 20 14 5 Interest on dwellings and land — £ s. d. Overdue at 31st March, 1935 7,733 1 2 Accrued but not due at 31st March, 1935 .. .. 73 5 4 — 7,806 6 6 £15,075 1 8 £15,075 1 8 Management Expenses Account for the Year ended 31st March, 1935. Dr. £ s. d. Gr. £ s. d. To Audit Office services .. • • • ■ 90 0 0 By Balance transferred to Profit and Loss Account 1,665 5 3 Cleaning, lighting, heating, and messenger services 25 0 0 Fees paid for special services in respect of securities 51 12 0 Postages and telegrams .. .. • • 40 0 0 Post Office services .. .. . • 60 0 0 Printing and stationery .. .. .. 50 0 0 Public Service Superannuation Fund contribution 40 0 0 Rent .. .. •• • • • • 50 0 0 Salaries .. .. • • • • .. 1,198 0 0 Solicitors' costs .. .. ■ . • ■ 10 13 3 Valuation Department: Agency work . . 50 0 0 £1,665 5 3 £1,665 5 3 G. E. Miller, 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 a? disclosed thereby. — J. H. Fowler, Deputy Controller and Auditor-General.

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