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LOCAL AUTHORITIES BRANCH. Statement of Liabilities and Assets as at 31st March, 1935. Liabilities. £ a. d. Assets. £ s. d. £ s. d. Sundry loans .. •• •• 2,778,690 15 7 Investment Account— Loan-moneys: Unexpected' balance under sec- Advances not due 2,883,653 10 3 tion 72, Local Bodies' Loans Act, 1926 .. 3,987 12 10 Instalments of principal Hawke's Bay Eehabilitation: Loan-moneys overdue .. .. b,lt>y y » received from Treasury 235,938 12 1 Principal owing by Temporary advances from Settlers Branch .. 285,000 0 0 local bodies .. — 2,889,813 0 0 Sundry creditors : Treasury (Hawke's Bay re- Hawke's Bay rehabilitation advances .. 235,938 12 1 habitation principal repayments) •• ■• 20 0 0 Sinking Fund investments held by Advances Suspense Account . 217 410 Office Smkmg Fund Account .. .. 200,223 9 8 Income-tax Suspense Account .. .. 2,449 19 7 Interest on debentures- £ s. d. Conversion premiums, in accordance with see- Overdue .. •• -» b '« tion 13 of the Local Authorities Interest Accrued .. .. 4 Reduction and Loan Conversion Act, 1932-33 618 12 8 '79 if if Interest on loans accrued but not due .. 11,580 15 7 Interest postponed n7 in Sinking Fund 200,223 9 8 Interest paid in advance 24 646 12 6 Loan Charges Account .. .. •• <24,b4b 1 1 b Profit and Loss Account .. .. . • 121,125 0 5 Cash in hand and in bank at 31st March, 1935.. 14,178 2 3 £3,518,727 2 10 £3,518,727 2 10 Peofit and Loss Account foe the Yeae ended 31st Maech, 1935. Dr £ s. d. Cr. £ s - d - To Management Expenses Account .. .. 1,745 810 By Interest Account: Gross profits .. .. 10,854 810 Loan-flotation charges written down .. .. 1,116 10 4 Annual proportion conversion premiums .. 25 15 6 Income-tax 2,449 19 7 Balance: Net profits for the year .. .. 5,568 5 7 £10,880 4 4 £10.880 4 4 £ s. d. s - dTo Balance at 31st March, 1934 .. .. 127,242 12 8 By Income-tax refunded 549 6 8 Net profits for the year .. .. •• 5,5b8 5 7 Balance 121,125 0 5 £127,242 12 8 £127,242 12 8 Interest Account for the Yeae ended 31st March, 1935. Dr £ s. d. £ s. d. Or. £ s. d. £ s. d. To Interest on loans .. .. 101,225 2 5 By Interest on debentures .. 103,350 15 10 Less accrued at 31st March, Less overdue and accrued at 1934 .. •• 11,580 15 7 31st March, 1934 .. 29,127 12 8 89,644 6 10 — 74,223 3 2 Interest on loans accrued but not due .. 11,580 15 7 Interest on bank balances .. :•■-■„," Interest on temporary advances from Settlers Interest on temporary advances to Settlers Branch 700 0 0 Branch 5,816 13 4 Balance: Gross profits transferred to Profit Interest on debentures— and Toss Account . ■• 10,854 810 Overdue at 31st March, £ s. d. and Loss Account .. . 1935 73g5 Q 10 Accrued but not due at 31st March, 1935 .. .. 25,333 14 4 32,729 4 2 £112,779 11 3 £112,779 11 3 Management Expenses Account for the Year ended 31st Maech, 1935. 7) £ s. d. Cr. £ s - d - To Audit Office services .. •• 50 06 By Balance transferred to Profit and Loss Account 1,745 810 Cleaning, lighting, heating, and messenger services .. •• • • • ■ • • 30 0 0 Management charges : New Zealand stock and bonds 149 8 10 Postages and telegrams .. • • ■ • 40 0 0 Post Office services .. ■ • • ■ 60 0 0 Printing and stationery .. . ■ •• . 75 0 0 Public Service Superannuation Fund contribution 50 0 0 Tfont . . • ■ 80 0 0 Maries V. '.. L™ 0 ° £1;745 8 10 BJIO G. E. Miller, Superintendent. State Advances Office, Wellington, 17th June, 1935. B. Eobeetson, 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, except that the amount of exchange paid in respect of the interest which has been paid in London on the loans of this account has not been charged to the account, but has been borne by the Consolidated Fund.— J. H. Fowlee, Deputy Controller and Auditor-General.

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