B.—l [PT. IV], SUP. to 1941.

NATIVE-LAND-DEVELOPMENT SCHEMES—continued. Net Revenue Account for Year ended 31st March, 1941. £ £ Adjustments, including writings-off previous years .. 8 Balance, Ist April, 1940 .. .. .. .. 38,505 Previous year's losses — £ Profit, transferred from Revenue Account .. .. 44,098 Bulk purchases .. .. .. . ■ 700 Previous year's profits— £ Schemes revalued .. .. 20,479 Bulk purchases .. .. .. .. 2/, 397 — 27,179 Bush-scheme closed .. .. .. 4,790 Balance, 31st March, 1941 .. .. .. •• 87,003 32,187 £114,790 £114,790 Balance-sheet as at 31st March, 1941. Liabilities. Assets. £ Native-land development— £ £ Loan capital: Public Works Fund .. .. 2,150,583 Settlement expenditure, including interest 2,317,192 Liability to Consolidated Fund— Advances under section 48, Native Land Advance under section 8, Finance Act, £ Amendment Act, 1930 (Native settlers) 7,781 1929: Principal .. .. 2,100 Interest accrued .. .. .. 08 Interest on loan capital .. .. 102,845 2,325,041 104,945 Advances — Sundry creditors Native Trustee under section 521, £ Departmental .. .. ■■ 7,848 Native Land Act, 1931 .. 47,270 Miscellaneous .. .. ..42,124 Interest accrued .. .. 1,005 Employment-promotion grant unexpended 10,517 48,281 60,489 Maori Land Boards under section Writings-off in Suspense .. .. .. . • 5,248 340, Native Land Act, 1931 .. 4,302 Net Revenue Account— Interest accrued .. .. 08 Balance, Ist April, 1940 .. .. 38,505 4,4.50 Pl us Oturei Block .. .. .. 270 Excess income over expendi- £ Interest acorued .. .. 5 ture, 1940-41 .. .. 44,098 275 Bush-scheme closed .. 4,790 —" 52,980 Previous year's profits on Departmental motor-vehicles .. .. 8 bulk purchases .. .. 27,397 Surveyors'equipment .. .. .. 178 76,285 186 Sundry debtors — 114,790 Departmental .. .. .. 1,222 Less previous year's losses — Miscellaneous .. .. .. 25,743 Adjustments: Assets written oil 8 Advances to Maori Land. Board (InstalBulk purchases .. .. 700 ments: Principal, £2,937; interest, Schemes revalued .. .. 26,479 £1,505) .. .. .. .. 4,442 27,187 31,407 87,603 Losses in Suspense .. .. .. .. 5,248 £2,414,868 £2,414,868 O. N. Campbell, Under-Secretary. M. J. Lawless, A.R.A.N.Z., Accountant. N oT bs. (|) Expenditure from employment promotion grants on development schemes since inception, amounting to £1,351,189, is not included in the settlement expenditure above. (2) Administration expenses have been paid from vote, Native, Consolidated Fund, since Ist April, 1936 ; prior to that date the salaries and expenses of the Field Supervisors were paid from vote, Native Land Settlement, and were debited in those years to the Revenue Account. 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, expenditure from the Public Works Fund on Native-land-development areas incurred prior to the assumption of control by the Native Department and included in the Crown Lands Balancc-sheet should be reflected in the accounts of the Native-land-development schemes. —Cyril G. Collins, Controller and Auditor-General.

NATIVE TRUSTEE. Interest Account for the Year ended 31st March, 1941. Dr. Or. £ Interest allocated to amounts held under— £ £ Interest on mortgage and other investments .. .. 20,011 Native Land Act, 1931, Part 111 .. .. 4,930 Native Land Act, 1931, Part X .. .. 1,022 Native Land Act, 1931, Miscellaneous .. 84 0,042 Native Trustee Act, 1930 .. .. .. •. 430 Native Purposes Act, 1931 .. ■ ■ • ■ HO Maori Purposes Fund Act, 1934-35 .. .. 1,733 Native Housing Amendment Act, 1938 .. .. 092 West Coast Settlement Reserves Act, 1892 .. .. 187 Miscellaneous funds .. .. .. ■ • 30 Interest on advances under— £ Native Land Act, 1931, section 521.. .. 2,006 Post Office loan .. .. .. • • 793 2,859 Surplus carried to Reserve Account .. .. .. 13,322 £26,011 £26,011

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