B. —1 [PT. IV], SUP. TO 1937.

SMALL FARMS SCHEME. Revenue Account for the Year ended 31st March, 1937. Dr. £ s. d. Or. £ a. d. Interest on capital provided from the Public Works Rents receivable .. .. .. .. 7,429 7 3 Fund .. .. .. .. .. 26,583 11 11 Interest receivable on—- £ s. d. Rent and interest payable .. .. .. 2,950 16 5 Current Account advances .. 4,456 110 Administration and travelling expenses .. .. 64 16 11 Instalment mortgage .. .. 3,696 15 10 Compensation for injuries .. .. .. 32 18 0 Share-milkers'loans .. .. 2,366 3 6 Losses on realization of advance to small-farm Miscellaneous advances .. 0 4 3 occupiers .. .. .. .. .. 7,391 0 4 — 10,519 5 5 Deficit on disposal of properties .. .. 860 0 0 Rebates on superphosphates .. .. 107 12 4 Remissions under Land Act, 1924 —- £ s. d. Surplus on disposal of properties— Rent .. .. .. .. 518 8 Capital .. .. .. 1,294 7 3 Interest: Instalment mortgage .. 45 14 9 Interest .. .. .. 71 11 3 51 13 5 1,365 18 6 Balance: Loss for year carried down .: .. 18,512 13 6 £37,934 17 0 £37,934 17 0 £ s. d. £ s. d. Balance: Loss brought forward .. .. 16,741 11 11 Balance: Loss to 31st March, 1937, carried forward 35,254 5 5 Balance: Loss brought down .. .. 18,512 13 6 £35,254 5 5 £35,254 5 5 Balance-sheet as at 31st March, 1937. Liabilities. Assets. Capital Account— £ s. d. £ s. d. Land — £ s. d. £ s. d. Public Works Fund .. 645,010 3 7 Leased .. .. .. 51,710 0 4 Employment Promotion Fund 204,498 3 7 Unleased .. .. .. 1.15,164 13 1 Consolidated Fund .. .. 160,166 7 2 166,874 13 5 Land donated .. .. 1,629 0 0 Development expenditure on 1,011,303 14 4 landLoan from Employment Pro- Public Works Fund .. 279,911 11 9 motion Fund .. .. .. 6,320 18 9 Consolidated Fund .. .. 160,166 7 2 Crown Lands Account: Land Employment Promotion set aside for— Fund .. .. .. 204,498 3 7 Small farms .. .. 7,839 16 9 Rent accrued .. .. 1.97 10 2 Interest on expenditure on blocks 644,576 2 6 8,037 611 being developed .. .. 42,460 2 7 National Endowment Account: 687,036 5 1 Land set aside for— Live-stock and chattels .. .. 30,828 13 4 Small farms .. .. 4,063 14 3 Advances to small-farms Rent accrued . . .. 38 5 2 occupiers— 4,101 19 5 Current AccountSundry creditors — Improvements .. .. 102,403 18 7 Rent .. .. .. 736 19 2 Stock and chattels .. 14,289 8 6 t Departmental .. .. 13,339 15 5 Instalment mortgage .. 72,695 710 Miscellaneous .. .. 1,903 8 6 Miscellaneous .. .. 75 0 0 —: — 15,980 3 1 189,463 14 11 Payments in advance— Advances under share-milkers' Rent .. .. .. 12 18 10 agreements .. .. .. 39,189 19 10 Principal instalments :■ —- Realization Account: Properties Share-milkers'loans .. 99 15 7 in course of realization .. .. 14,792 6 4 Interest- — Sundry debtors — Share-milkers' loans .. 35 0 5 Rent owing by small-farms Current Account. .. 7 17 6 occupiers .. .. 10,819 411 : —- 155 12 4 Principal instalments— Accrued interest on expenditure on blocks being Instalment mortgage .. 496 4 5 developed .. .. .. .. 41,896 19 2 Share-milkers'loans .. 3,716 6 2 Rent Adjustment Account .. . . . . 570 13 9 Interest — Writings-off in suspense .. .. .. 4,088 3 3 Instalment mortgage .. 1,604 11 4 Reserve Account (subsidy from Consolidated Current Account .. 7,232 13 2 Fund not yet allocated to blocks) .. .. 53,927 13 5 Share-milkers'loans .. 1,437 110 Treasury Adjustment Account .. .. 50,978 14 10 Miscellaneous .. .. 5 6 5 Departmental .. .. 2,623 1 10 Misecellaneous .. .. 380 16 1 28,315 6 2 Postponed principal, share-milkers' loans .. 9 15 10 Postponed interest, share-milkers' loans .. 11 15 4 Interest Adjustment Account .. .. 1,497 0 4 Losses in Suspense Account .. .. .. 4,088 3 3 Revenue Account : Balance carried forward .. 35,254 5 5 £1,197,361 19 3 £1,197,361 19 3 W. Robertson, Under-Secretary for Lands. Wm. E. Shaw, Chief Accountant. 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 explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return 8.-l [Pt. IV], The following comments are appended : (1) The account does not bear a charge for the cost of expenses incurred by Departments administering the scheme other than a reduced charge for the supervision of the erection of cottages and milking-sheds ; (2) in connection with certain properties the development expenditure appears to exceed the value of the realizable assets. —.1. H. Fowler, Controller and AuditorGeneral.

B—B.8 —B. 1 [PT. IV], Sup. TO 1937.

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