MAIN HIGHWAYS ACCOUNT— continued. General Balance-sheet as at 31st March, 1940.

s—B. 1 [PT. IV

B.—l [Ft. IV]

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.— Cyril G. Collins, Controller and Auditor-General.

Notes.—(a) No liability is included for interest on loans redeemed out of Public Debt Repayment Account. (6) The two funds, previously known as " Construction " and « Revenue " were amalgamated as frnm Ist April, 1936, and are now termed the " Main Highways Account," in accordance with section 3, Finance Act (No. 2), 1935. °

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LIABILITIES. Total. ASSETS. Total. i | £ £ £ £ Balance at 31/3/39 .. .. .. .. .. .. .. 633,321 Cash in Public Account — Less excess of expenditure over income for 1939-40 .. .. .. 97,133 At call .. .. .. .. .. .. 80 173 . 536,188 Sundry debtors — Sundry creditors Public Works Department .. .. .. .. .. 24,090 Public Works Department .. .. .. .. .. 70,561 Other Government Departments .. .. .. .. .. 2,756 Other Government Departments .. .. .. .. .. 17,953 Non-departmental .. .. .. .. .. .. 17 232 Non-departmental ............ 325,320 ! 44 078 413,834 Advances to local authorities (Main Highways Amendment Act, 1926. Interest accrued on loans .. .. .. .. .. .. .. 66,795 section 2) .. .. .. .. .. .. .. .. 83 167 Reserves for redemption of securities .. .. .. .. .. 219,399 Motor-registration fees in hands of Postal Department .. .. .. 1562 Writings-off in Suspense .. .. .. .. .. ... .. 3,030 Interest due and accrued .. .. .. .. .. .. .. 2 664 Interest paid in advance .. .. . . .. .. .. .. 7'671 Buildings and land.. .. .. .. .. .. .. 72 '185 Stocks of materials, tools, &c. .. .. .. .. .. .. 247 606 Furniture, fittings, &c. —• Expenditure to 31/3/40 .. .. .. .. .. .. 935 Less depreciation to 31/3/40 .. .. .. 569 366 .Plant and equipment — For Main Highways Board — Expenditure to 31/3/40.. .. .. .. .. .. 615,428 Less depreciation charged to works .. .. .. .. 215,643 399 785 Purchased for local authorities — Expenditure to 31/3/40.. .. .. .. .. .. j 108,615 Less repayments of principal .. .. .. .. .. 31 j 055 Amount transferred to Loans Redemption Account .. .. .. j 1,128,064 Less amount utilized for redemption of securities .. .. .. 908, 665 Stocks Deficits Account .. .. .. .. .. .. ,, 3' £1,239,246 £1,239,246