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RANGITAIKI LAND DRAINAGE SCHEME. Rate Account for the Year ended 31st March, 1939. Capital Maintenance. Capital. Maintenance. Dr. £ s. d. £ s. d. Cr. £ s. d. £ s. d. Balance an at Ist April, 1938 .. 10,016 2 11 .. Balance as at Ist April, 1938 .. .. 270 8 3 Rebate on 1937-38 and 1938-39 Rates struck for 1937-38 and 1938-39 20,995 15 10 13,339 12 5 rates under Section 15, Finance 10-per-cent. penalty on 1937-38 Act, 1938 .. .. .. 11,521 9 5 .. rates .. .. .. 108 14 9 143 15 10 Remissions .. .. .. 112 10 0 71 6 0 Adjustment of Reserve Account for Interest on capital cost .. .. 4,500 0 0 .. repayment of capita] .. . . 1,242 6 0 Cost of maintenance .. .. .. 8,302 16 5 Adjustment of overcharged interest Balance as at 31st March, 1939 .. 409 8 3 8,147 6 3 for 1937-38 .. .. .. 4,212 14 0 Subsidy on maintenance-costs .. .. 2,767 12 2 £26,559 10 7 £16,521 8 8 £26,559 10 7 £16,521 8 8 Revenue Account por The Year ended 31st March, 1939. Dr. £ s. d. Cr. £ s. d. Losses written off .. .. .. .. 5,976 I 8 Accrued rent .. .. .. .. 177 14 1 Law-costs remitted .. .. .. .. 0150 Interest on capital cost recoverable by rates .. 4,500 0 0 Interest on Public Works Fund capital .. .. 19,566 14 9 Balance, transferred to Drainage Works Account .. 25,078 11 4 Adjustment of interest overcharged in Rate Account: Capital for 1937-38 .. .. 4,212 14 0 £29,756 5 5 £29,756 5 5 Receipts and Payments Account eob the Year ended 31st March, 1939. Receipts. Payments Consolidated Consolidated Fund. Fund. £ s. d. £ s. d. Rates .. .. .. .. .. 13,226 1 4 Maintenance, completed works .. .. 9,561 111 Rents .. .. .. .. .. 172 6 7 Refund rates .. .. .. .. 155 8 10 Law-costs .. .. .. .. .. 54 4 4 Transfer net receipts to Treasury Adjustment Subsidy on maintenance-costs .. .. .. 2,409 2 3 Account .. .. .. .. .. 18,202 210 Sundries .. .. .. .. .. 2,495 17 2 Transfer of expenditure to Treasury Adjustment Account .. .. .. .. .. 9,561111 £27,918 13 7 £27,918 13 7 Balance-sheet as at 31st March, 1939. Liabilities. Assets. £ s. d. Drainage works— £ s. d. Public Works Fund .. .. .. .. 489,168 12 7 Recoverable: Capital expenditure (section 11, Free capital from Employment Promotion Fund 890 19 0 Finance Act, 1937 (No. 2) .. .. 205,000 0 0 Treasury Adjustment Account .. .. 280,338 5 6 Not recoverable — Unpaid purchase-money for land taken .. 210 1 1 Capital expenditure and capitalized interest . . 538,697 13 8 Sundry creditors—• £ s. d. Plant and machinery .. .. .. 1,816 4 9 Departmental .. .. 892 11 5 Buildings .. .. .. .. .. 1,450 11 9 Miscellaneous .. .. 408 1 0 Loose tools .. .. .. . . 510 13 9 1,300 12 5 Sundry goods .. .. .. .. 1,192 3 10 Rate Account — Sundry debtors— £ s. d. Capital .. .. .. 409 8 3 Rates, capital .. .. 15,307 13 11 Maintenance.. .. .. 8,147 6 3 Rates, maintenance .. .. 14,710 18 6 8,556 14 6 Law-costs .. .. .. 529 10 6 Writings-off in Suspense .. .. .. 5,976 12 1 Rents .. .. .. 6 10 0 Payments in advance- — £ s. d. Miscellaneous .. .. 129 0 2 Rates .. .. .. 23 0 8 Departmental .. .. 15 5 6 Law-costs .. .. .. 0 3 0 30,698 18 7 23 3 8 Cash in transit from Post-office .. .. 231 3 5 Expenditure from Employment Promotion Fund 890 19 0 Losses in Suspense .. .. .. .. 5,976 12 1 £786,465 0 10 £786,465 0 10 R. G. Macmorran, Under-Secretary for Lands. G. I. Beeson, Chief Accountant. I hereby certify that the Rate and Revenue Accounts 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.-I [Pt. IV]. —J. H. Fowler, Controller and Auditor-General.

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