B.—l [PT. TVI

SWAMP LAND DRAINAGE SCHEMES—continued. Balance-sheet as at 31st March, 1942. Liabilities. Assets. Capital Account— £ £ Kaitaia Drainage Area — £ £ Public Works Fund .. .. .. 498,380 Allocated cost of work on which rates are Less Loans Redemption Account .. 53 levied— 498,327 Rural Subdivision .. .. CO,OOO Reserve: Repaymont of capital costs— Town Subdivision .. .. .. 8,200 Kaitaia Drainage Area— £ gg 200 Rural Subdivision .. .. 4,662 Excess cost of works not recoverable .. 164,165 Town Subdivision .. .. 637 Interest Account: Amount chargeable to 5,299 area and capitalized to 31st March, 1940 108,958 Waihi Drainage Area— £ 333 J23 Pukchina Subdivision .. 444 Waihi Drainage Area— Less capital liability remitted 167 Allocated cost of work 011 which rates are 277 levied— Kaikokopu Subdivision .. 678 Pukehina Subdivision .. .. 5,000 955 Kaikokopu Subdivision .. .. 7,500 Poukawa Drainage Area .. 1,319 Central Subdivision .. .. .. 46,321 Less capital liability remitted 289 L. gg §21 1,030 Excess cost of works not recoverable .. 28,656 7,284 Interest Account; Amount chargeable to Rate Accounts'— area and capitalized to 31st March, 1940 48,576 Special Rate Accounts : Capital— 77 232 Kaitaia Drainage Area— Poukawa Drainage Area— Rural Subdivision .. .. 2,450 Drainage works .. .. .. 17,494 Town Subdivision .. .. 154 Interest Account: Amount chargeable to 2,604 area .. .. .. .. 1,472 Waihi Drainage Area — jg ggg Kaikokopu Subdivision .. 340 Hikurangi Drainage Area — Pukehina Subdivision .. 520 Drainage works .. .. 259,543 860 Less amount written off .. .. 184,388 Poukawa Drainagb Area .. .. 483 3,947 75,155 General Rate Accounts : Maintenance— Interest Account: Amount chargeable to Kaitaia Drainage Area— area and capitalized to 31st March, 1940 163,068 Rural Subdivision .. .. 2,485 238 223 Town Subdivision .. . . 205 Mangawai Drainage Area — 2,690 Drainage works .. .. .. 1,878 Waihi Drainage Area — Interest Account: Amount charged to works Pukehina Subdivision .. .. 1,132 to 31st March, 1939 .. .. 1,606 Central Subdivision .. .. 758 Kaikokopu Subdivision .. 306 3,484 2,196 Less amount written off .. 3,484 Poukawa Drainage Area .. .. .. 781 5,667 Harihari Drainage Area — Sundry creditors . . .. .. .. .. 120 Drainage works .. '.. .. 4,355 Rents charged in advance .. .. .. .. 98 Interest Account: Amount chargeable to Payments in advance : Rates .. .. .. 1.0 area and capitalized to 31st March, 1940.. 3,429 Buildings Suspense .. .. .. .. 207 7 7g4 Drainage Works Suspense .. .. .. .. 705 Unpaid purchase-money on land sold on deferred payment 705 Writings off in Suspense .. .. .. .. 148 Buildings .. .. .. .. .. 1 303 Treasury Adjustment Account .. .. .. 371,529 Buildings: Loading .. .. .. .. '207 Plant and machinery .. .. .. .. 2,615 Loose tools .. .. .. .. .. 77 Stores on hand .. . . .. .. , . 1 549 Motor-vehicles .. .. .. .. .. g7 Sundry debtors for rates— Drainage Area. Capital Maintenanee. £ £ Kaitaia .. .. .. 26,677 11,753 38,430 Waihi .. .. .. 2,823 2,061 4,884 Poukawa .. .. .. 1,896 383 2,279 Sundry debtors— Rent under section 4 (2), Swamp Land Drainage Amendment Act, 1926 .. 101 Law-costs .. .. .. .. 1,268 Departmental .. .. .. .. 214 1,583 Revene Account—Waihi Drainage Area : Central Subdivision .. .. .. .. .. 18,398 General Revenue Account .. .. .. 13,093 Losses in Suspense .. .. .. ~ 14g Interest accrued but not due .. .. .. 10 Cash in transit from post-office .. .. .. 325 £888,042 £888,042 Note. —Up to 31st March, 1940, interest on the recoverable expenditure was charged against the Rate Accounts and interest on the balance of the expenditure was capitalized, but, in terms of Treasury Instruction No. 81, Treasury agreed that thereafter interest 011 irrecoverable expenditure need not be brought into the accounts. R. G. Macmorran, Under-Secretary for Lands. G. I. Beeson, Chief Accountant. I hereby certify that the Rate Accounts 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 note enfaced thereon and to the explanatory notes dealing with departmental accounts generally as appearing at commencement of parliamentary return 8.-l [Pt. IV], The following comment is appended : No adjustment has been made in the accounts to provide for an anticipated heavy loss arising out of remissions of unpaid rates. Cyril G. Collins, Controller and Auditor-General.

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