B.—l [PT. IV]

NATIVE LAND DEVELOPMENT Interest Account for the Year ended 31st March, 1942 Dr. £ Or. £ £ Interest on loan capital .. .. .. .. 87,453 Interest on amounts under Part I, Native Land Interest on advance from Consolidated Fund under Amendment Act, 1936— section 8, Finance Act, 1929 .. .. .. 72 Expended on development schemes .. 42,807 Interest adjustments, schemes and settlers, previous years 1,035 Advanced to settlers .. .. .. 50,354 Balance, transferred to Revenue Account .. .. 7,084 93,22.1 Interest on advances under — Section 340, Native Land Act, 1931 (Maori Land Boards) .. .. . . .. 181 Section 521, Native Land Act, 1931 (Native Trustee) .. .. .. .. 1,836 Section 48, Native Land Amendment Act, 1936 (Native settlers) .. .. .. 386 Oturei mortgage . . .. .. . . 20 2,423 £95,644 £95,644 Revenue Account for the Year ended 31st March, .1942 Dr. £ Cr. £ Depreciation: Surveyors'equipment .. .. 26 Balance, transferred from Interest Account .. .. 7,084 Profit, transferred to Net Revenue Account .. .. 43,626 Departmental charge on amounts — £ Expended on development schemes . . 16,075 Advanced to settlers . . . . 20,493 36,568 £43,652 £43,652 Net Revenue Account for the Year ended 31st March, 1.942 Dr. £ Cr. £ Previous year's loss: Bulk purchases, &c. .. .. 55 Balance, Ist April, .1941 .. .. .. .. 87,603 Balance, 31st March, 1942 .. .. .. .. 139,320 Profit, transferred from Revenue Account .. .. 43,626 Administration charge .. .. .. .. 200 Previous year's profits— £ Bulk purchases and motor-vehicles .. 5,460 Bush schemes ~ .. .. ~ 2,486 7,946 £139,375 £139,375 Balance-sheet as at 31st March, 1912 Liabilities £ Assets £ Loan capital : Public Works Fund .. .. 2,216,048 Development and settlement — Liability to Consolidated Fund— Expenditure, including interAdvance under section 8, Finance Act, £ est and departmental 1929: Principal .. .. .. 1,800 charge, on— £ £ Interest on loan capital .. .. 103,022 Development schemes .. 1,131,550 104,822 Settled holdings .. 1,314,875 Creditor: Employment-promotion grant unexpended 27,591 2,446,425 Writings-off in suspense .. .. .. .. 22,855 Advances under section 48, Net Revenue Account— Native Land Amendment Balance, Ist April, 1941 .. .. 87,603 Act, 1936 .. .. 8,024 Plus — £ Interest accrued .. 68 Excess income over expendi- 8,092 diture, 1941-42 .. .. 43,626 2,454,517 Administration charge .. 200 Advances— Previous year's profits on bulk Native Trustee under section purchases and bush schemes 7,946 521, Native Land Act, 1931 .. 27,689 51,772 Maori Land Boards under section 340, Native Land 139,375 Act, 1931 .. .. 1,729 Less previous year's loss: Bulk pur- Interest accrued .. 80 chases .. .. .. .. 55 1,809 139,320 Oturei Block .. .. 270 Interest accrued . . 5 275 29,773 Departmental motor-vehicles .. .. 8 Surveyors' equipment .. .. .. 152 160 Debtors — Advances to Maori Land Boards (Instalments : Principal, £1,680; interest, £1,625) .. .. .. .. 3,305 Advances to Natives (principal) . . 26 3,331 Losses in suspense .. ~ .. .. 22,855 £2,510,636 £2,510,636 Notes. —(1) Expenditure from employment-promotion grants on development schemes since inception, amounting to £1,523,036, is not included in the development and settlement expenditure above. (2) Administration expenses have»been paid from Consolidated Fund, vote " Native," since Ist April, 1936, prior to when 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. 0. N. Campbell, Under-Secretary. M. J. Lawless, A.R.A.N.Z., Accountant. 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 B 1 [Pt. IV], and to the following comments: (I) The lqading 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 Balance-sheet should bo reflected in the accounts of the Native-land-development schemes. —Cyril G. Collins, Controller and Auditor-General,

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