B. —1 [PT. IV], Sup. TO 1937.

NATIVE LAND DEVELOPMENT SCHEMES. Interest Account for the Year ended 31st March, 1937. Dr. £ s. d. Gr. Interest on loan capita] .. .. .. 38,787 0 5 Interest on amounts expended on development £ s. d. Interest on advances from Consolidated Fund under schemes and advances to units .. .. 40,268 5 1 section 8, Finance Act, 1929.. .. .. 200 0 0 Interest on advances under section 340, Native Interest on unpaid balance of development expendi- Land Act, 1931 (Maori Land Boards) .. .. 260 14 4 ture (Tokerau District Maori Land Board) .. 35 10 6 Interest on advances under section 521, Native Balance transferred to Revenue Account .. 7,189 16 0 Land Act, 1931 (Native Trustee) .. .. 5,401 0 4 Interest on advances under subsection 7, section 522, Native Land Act, 1931 (Native settlers) 252 16 2 Interest on Oturei mortgage .. .. .. 29 11 0 £46,212 6 11 £46,212 6 11 Revenue Account for the Year ended 31st March, 1937. Dr. £ s. d. £ s. d. Gr. £ s. d Depreciation—• Balance transferred from Interest Account .. 7,189 16 0 Departmental motor-veliieles .. 694 13 10 Profit on issue of seed .. .. .. .. 718 2 8 Departmental surveyors'equipment 21 14 0 716 7 10 Balance transferred to Net Revenue Account .. 7,191 10 10 £7,907 18 8 £7,907 18 8 Net Revenue Account for the Year ended 31st March, 1937. Dr. £ s. d. Gr. £ s. d. Balance, Ist April, 1936 .. .. .. 28,835 1 4 Adjustments on account of previous years .. 338 14 7 Balance transferred from Revenue Account .. 7,191 10 10 Balance, 31st March, 1937 .. .. . 21,304 15 11 £28,835 1 4 £28,835 1 4 Balance-sheet as at 31st March, 1937. Liabilities. Assets. £ s. d. £ s. d. Native Land Development— £ s. d. £ s. d. Loan capital. Public Works Fund .. 953,164 18 9 Accounts of units — Liability to Consolidated Fund — Principal .. .. 470,508 4 8 Advance under section 8, Interest .. .. 6,688 0 10 Finance Act, 1929 : Prin- Settlement expenditure (settlers cipal .. .. .. 5,000 0 0 not yet determined) .. 399,156 111 Interest on loan capital .. 47,037 2 7 Advances under subsection 7, — 52,037' 2 7 section 522, Native Land Sundry creditors .. . . Act, 1931, £8,408 13s. 2d. ; Departmental .. .. 350 1 5 interest accrued, £71 17s. 2d. 8,480 10 4 Tokerau Maori Land Board 884,832 17 9 (principal, £1,015 3s. lOd. ; Advances — interest, £35 10s. 6d.) .. 1,050 14 4 Native Trustee under section General .. .. .. 27,483 19 10 521, Native Land Act, 1931 84,743 13 6 —-— — 28,884 15 7 Interest accrued .. .. 924 5 9 Maori Unemployment Grant Account .. 7,353 19 10 85,667 19 3 Writings-off in Suspense .. .. .. 9,174 16 7 Maori Land Boards under section 340, Native Land Act, 1931 .. .. .. 6,302 18 4 Interest accrued .. .. 86 7 7 6,389 5 11 Oturei Block .. .. 590 19 1 Interest due and accrued .. 40 14 0 631 13 1 Departmental motor-vehicles .. 1,049 17 4 Surveyors' equipment .. 267 13 0 ■ 1,317 10 4 Sundry debtors— Departmental .. .. 361 9 0 General .. .. .. 31,693 15 8 Advances to Maori Land Boards (instalment principal, £1,150 6s. 3d. ; interest, £737 3s. 9d.) .. .. 1,887 10 0 33,942 14 8 Losses in Suspense .. .. .. .. 9,174 16 7 Cash in Public Account .. .. .. 7,353 19 10 Net revenue account, Ist April, 1936 .. .. .. 28,835 1 4 Less adjustments previous years .. .. .. 338 14 7 28,496 6 9 Less excess of income over expenditure for year ended 31st March, 1937.. .. 7,191 10 10 — 21,304 15 11 £1,050,615 13 4 £1,050,615 13 4 As from Ist April, 1936, administration expenses have been charged to the Consolidated Fund and are not included in the above accounts. .0. N. Campbell, Under-Secretary. R. L. Jellicoe, A.R.A.N.Z., Accountant. I hereby certify that the Revenue 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] and to the following comments: (1) The loading of the various schemes for administration expenses is not sufficient to cover the full cost; (2) moneys expended out of the surveys of Native Land Account on Native-land development schemes have not been recouped; (3) in the opinion of the Audit Office the expenditure from the Public Works Fund on Native-land development areas, £1,541 4s. 9d., at present included in the Crown Lands Account, should be reflected in the accounts of the Native-land development schemes. —J, H. Fowler, Controller and Auditor-General.

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