TABLE 1.—MAIN HIGHWAYS ACCOUNT— continued. General Balance-sheet as at 31st March, 1938.

D.—l.

Notes, (a) No liability is included for interest on loans redeemed out of Public Debt Repayment Account. (6) The two accounts, previously known as " Construction " and " Revenue " were amalgamated as from Ist April, 1936, and the account is now termed the " Main Highways Account," in accordance with section 3, Finance Act (No. 2), 1935. J. W. Scott, A.R.A.N.Z., Chief Accountant, Public Works Department. J. Wood, Chairman, Main Highways Board. I hereby certify that the Income and Expenditure Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit and correctly state the position as disclosed thereby, subject to the departmental notes enfaced thereon.— -J. H. Fowlek, Controller and Auditor-General.

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f II LIABILITIES. Total. ASSETS. i Total. - | £ s. d. £ s. d. Cash in Public Account — £ s. d. £ s. d. Excess of income over expenditure for 1937-38 .. .. .. .. 176,807 8 1 At call .. .. .. .. .. .. .. .. .. 62 265 9 5 A.dd Balance at 31/3/37 .. .. .. .. ., 144,382 4 10 Sundry debtors — j 321,189 12 11 Public Works Department .. .. .. .. .. .. 6,237 15 .5 Other Government Departments .. .. .. .. .. 12,675 10 9 Sundry creditors : Non-departmental .. .. .. .. .. .. 8,543 7 2 Public Works Department .. .. .. .. .. 27,604 9 1 27 456 13 4 Other Government Departments .. .. .. .. .. 7,476 6 2 Advances to local authorities (Main Highways Amendment Act, 1926, Non-departmental .. .. .. .. .. .. 281,054 6 0 section 2) .. .. .. .. .. .. .. .. 103,932 7 8 316,135 1 3 Advance on subsidies (Finance Act, 1930, sections 37 and 39, and Finance Act, Interest accrued on loans .. .. .. .. .. .. .. 37,675 10 9 1932, section 36) Reserves for redemption of securities .. .. .. .. .. 104,162 10 7 Motor-registration fee in hands of Postal Department .. .. .. .. 2,013 7 8 Writings-off in Suspense .. .. .. .. .. .. | .. 2,871 0 1 Interest due and accrued .. .. .. .. .. .. .. 2,997 2 4 j Buildings .. .. .. .. .. .. .. .. .. 13,727 12 7 Stocks of materials, tools, &c. .. .. .. .. .. .. 182,751 19 9 Furniture, fittings, &c. — Expenditure to 31/3/38 .. .. .. .. .. .. 469 13 11 Less depreciation to 31/3/38 .. .. .. .. .. 61 0 11 408 13 0 Plant and equipment — For Main Highways Board — Expenditure to 31/3/38 .. .. .. .. .. .. 341,671 12 6 Less depreciation charged to works .. .. .. .. 105,751 8 5 235,920 4 1 Purchased for local authorities — Expenditure to 31/3/38 .. .. .. .. .. .. 241,332 16 0 Less repayments of principal .. .. .. .. .. 197,806 0 11 : 43,526 15 1 Amount transferred to Loans Redemption Account .. .. .. 753,602 10 7 Less amount utilized for redemption of securities .. .. .. 649,440 0 0 104,162 10 7 Stocks Deficits Account .. .. .. .. .. .. .. 2,871 0 1 | 782,033 15 7 j , 782,033 15 7