B.—l [FT. TV].

TEACHERS SUPERANNUATION FUND—continued. Balance-sheet as at 31st January, 1940. Liabilities. £ s. d. Assets Fund as per Revenue Account .. .. 967,075 17 11 Amount held by Public Trustee— £ a. d. £ s. d Retiring and other allowances due and unpaid .. 2,148 16 0 Invested .. 963 961 16 0 Refund of contributions due and unpaid .. 1,523 1 6 Uninvested .. '' 1580 19 I Administration expenses unpaid—- ' ' ggg jg j Commission, Post and Tele- £ s. d. Premium paid on purchase of graph Department . . 206 15 0 investments . . .. 2,830 14 1 Clerical assistance .. .. 750 0 0 Less amount written off .. 305 10 9 Postage and telegrams .. 83 6 8 2 525 3 4 Office expenses, printing, and Amounts paid to protect stationery .. .. 4 18 11 securities .. ~ 193 8 9 Audit fee .. .. ~ 41 13 4 Contributions of members— Medical fees .. .. 18 18 0 In transit .. .. 5,237 15 11 1,105 11 11 Due and outstanding— Unclaimed contributions .. .. .. 1,702 13 7 Ordinary contributors .. 3,461 5 5 Amounts paid into fund in error .. .. 16 4 0 By Government on account Rent received from securities of contributors on leave leased .. .. .. 431 7 3 with the forces .. 351 9 6 Reserve— 9,050 10 10 ror commission payable to £ s. d. Interest on investments— Public Trustee in respect to Due and outstanding .. 4,197 1 0 interest due or accrued .. 481 11 4 Accrued, but not due .. 11,121 17 2 For commission to Post and jg jg o Telegraph Department in re- Interest on arrears of contribuspect to vouchers issued but tions due and outstanding unpaid .. .. .. 43 15 0 (contributors) .. .. 275 14 11 For cost of actuarial examina- Due by Consolidated Fund for ti° n • • • • • • 320 0 0 Cost-of-living Bonus .. 44 22 845 6 4 Government Subsidy— Reserve for loss on investments— Additional subsidy under secBalance at Ist February, 1939 2,673 15 0 tion 114, Public Service Superannuation Act, 1927, Less interest written oft, allowances unpaid at 31st £1,211 135.; less capital January, 1940 .. .. 530 s 8 written oft £172 4s. 3d. .. 1,383 17 3 1,289 17 9 Vouchers issued but unpaid at Ist February, 1940 ~ 23,131 12 8 Less cash in Post Office Account 5,840 7 0 17,291 5 8 £993,490 1 11 £993,490 1 11 Notks—Since the closing of the accounts for the year the Government has given a further subsidy on account of the loss suffered by the reduction of interest under the provisions of the National Expenditure Adjustment Act, 1932, during the year to 31st March, 1940. The amount for the period to 31st January, 1940, not included in the year's accounts, is £4,837. The liability under section 9 (2) of the National Expenditure Adjustment Act, 1932, as amended by section 25 of the Finance Act (No. 2), 1932-33, in respect to the rebate to those contributors who did not elect to continue to contribute on the higher rate of salary before the reductions in 1932 has not been taken into account in the foregoing statement. The contingent liability in this respect is estimated at £4,000. A. E. McKinnon, A.R.A.N.Z., Secretary, Teachers' Superannuation Board. 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. departmental notes enfaced thereon.—Cyril G. Collins, Controller and Auditor-General.

GOVERNMENT FTRE INSURANCE FUND. Revenue Account for the Year ended 31st March, 1940. ]>r. £ Cr. Accumulated Fund as at Ist April, 1939 .. .. 72.804 Claims— £ £ Interest on funds invested in Common Fund of Public Army .. .. ~ .. ~ 43 Trust Office .. .. .. .. .. 2,620 Education .. .. . 21,919 Contribution by Consolidated Fund .. .. .. 50,000 Health .. .. .. .. .1 '5 Lands and Survey .. .. .. 63 Public Works .. .. .. 43,671 State Forests .. .. .. .. 23 65,724 Accumulated Fund as at 31st March, 1940 .. .. 59,700 £125,424 £125,424 Balance-sheet as at 31st March, 1940. Liabilities. £ Assets. £ Accumulated Fund as at 31st March, 1940 .. .. 59,700 Investment in Common Fund of Public Trust Office .. 73 644 Claims due but not paid, departmental creditors .. 13,944 £73,644 £73,644 A. R. F. Mackay, M.Com. (N.Z.), Ph.D. (Lond.), Accountant to the Treasury. I hereby certify that the Revenue Account and Balance-sheet have been examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.—Cyril G. Collins, Controller and Auditor-General.

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