B —l [PT. IV]

STATE FOREST SERVlCE—continued STATE FORESTS ACCOUNT—continued Balance-sheet as at 31st March, 1942 Liabilities £ Assets £ Capital Account .. .. .. .. 36,319,405 Land .. .. .. .. .. .. 1,526,058 Loans— Standing forests .. .. .. .. 34,028,190 Debentures and stock issued— Forest improvements : Roads, tracks, protection Eate of Interest, Amount of Loan. improvements, &c. .. .. .. .. 7, if,s per Cent. £ Departmental property —Indigenous Forests : Buildi® " " orr'oßo ings, equipment, motor-vehicles, reference library, o," " " 'Vio'ma stores, &c. .. .. .. .. 13,587 '• '■ Sundry debtors .. .. .. .. .. 124,572 / ■' ■■ Plantations .. .. .. .. .. 6,163,160 " 991, ,211 Stocks of tree seed .. .. .. .. 1,542 . , . r , ... ~ T 7 ' ' Regeneration areas .. .. .. .. 52,391 Advances from Consolidated Fund at Managed forests 65,823 4 per cent. .. .. 87,405 Utilization, sawmilling, and creosoting plant .. 381*275 >474, 843 Amounts held on deposit . . .. . . 3 t 932 Sundry creditors — Assets in Suspense .. .. .. .. 187 Consolidated Fund for — Administration expenses unallocated .. .. 11,082 Loans redeemed on conversion .. 141,554 Charcoal production .. .. .. .. f>' 316 Interest paid .. .. .. 759,049 Net interest payable, capitalized as from Ist April, 1940 183,757 Interest accrued .. .. ..26,927 Cash in Public Account .. .. .. .. 59,280 National endowment Revenue .. 41,164 Working Railways Account . . .. 898 On open accounts .. .. . . 31,176 1,000,768 Reserves, general .. .. .. .. 1,829,182 Liability for amounts held on deposit .. .. 3,932 Reserve for assets written off .. .. .. 187 £42,628,317 £42,628,317 Notes.—(l) Lands and standing forests other than areas purhcased have been valued as follows : Prairie value, ss. per acre; protection, £1 per acre; merchantable forests, £10 per acre; accretions during the year have been brought into the accounts at the prairie value of ss. per acre. (2) Plantations have been valued at cost plus compound interest to 31st March, 1940, less returns compounded to 31st March, 1940. (3) The liability for advances from the Consolidated Fund is fixed by section 21 of the Finance Act, 1926, and section 3 of the Finance Act, 1926, and section 3 of the Finance Act, 1927. at £104,250. £87,405 3a. 4d. only is shown as a liability of this account, £16,844 16s. Bd. representing the expenditure oil sanddune reclamation, having been transferred without statutory authority to the Crown Lands Account. Alex. R. Enteican, Director of Forestry. W. J. C. Kinloch, A.R.A.N.Z., Accountant. I hereby certify that the Working Accounts, Profit and Loss Account, 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, and to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return 8.-l [Pt. IV]. —Cyril G. Collins, Controller and Auditor-General.

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