D.—l

J. W. Scott, A.8.A.N.Z., Chief Accountant, Public Works Department. W. L. Newnham, 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. By Authority: E. V. Paul, Government Printer, Wellington.— 1942.

MAIN HIGHWAYS ACCOUNT— continued. General Balance-sheet as at 31st March, 1942

20

j j ij — 7 " I I LIABILITIES. Total. ASSETS. Total. i I _ L L £ £ £ £ Excess of income over expenditure — Cash in Public Account Balance at 31/3/41 468,738 c At i + " Less excess of expenditure over income for 1941-42 .. .. .. 52,796 Sundry debtors , "\ , , 1Q0 V 1 415,942 Advances to local authorities (Mam Highways Amendment Act, 192b, Sundry creditors .. .. .. •• •• •• •• 159,310 section 2) .. .. 'lint i " Interest accrued on loans •• 78,267 Motor-registration fees m hands of Postal Department .. 9,343 Reserves for redemption of securities .. .. .. •• •• 823 Interest due and accrued .. .. .. .. .. •• c 7 'flnq Buildings and land .. .. .. .. .. •• s/,ou» Stocks of materials, tools, &c. .. •• .. .. •• 155,176 Furniture, fittings, &c. — Expenditure to 31/3/42 .. .. .. .. .. ■ ■ 938 Less depreciation to 31/3/42 .. .. .. .. ■ • 701 Plant and equipment — For Main Highways Board — , Expenditure to 31/3/42.. .. .. .. .. •• 643,453 Less depreciation charged to works .. .. .. .. 470,056 — 173,397 Purchased for local authorities — Expenditure to 31/3/42 .. .. •• .. ■■ 351,363 Less repayments of principal .. .. .. .. 314,835 36,528 Amount transferred to Loans Redemption Account .. .. .. 2,851,973 Less amount utilized for redemption of securities .. .. .. 2,851,150 823 £654, 342 £654,342 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 from 1st April, 1936, and are now termed the " Main Highways Account," in accordance with section 3, Finance Act (No. 2), 1935.