8.—13.

MISCELLANEOUS BUSINESS BRANCH.—HOUSING ACCOUNT. Statement or Liabilities and Assets as at 31st Maech, 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 ooun t .. 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 .. .'. .. •• 7 10 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 for the Year ended 31st March, 1935. Dr. £ s. d. Or. £ 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. Or. £ 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.3lst March, ' Less overdue and accrued at 193 4 5 063 410 31st March, 1934 .. 7,917 211 _! 8,614 3 4 4,587 12 5 Interest on loans accrued but not due .. 5,129 11 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 18 Management Expenses Account for the Year ended 31st March, 1935. Dr £ s. d. Or. £ 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 speoial 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. State Advances Office, Wellington, 17th June, 1935. E. 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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