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HOUSING ACCOUNT—continued Profit and Loss Account for the Year ended 31st March, 1944 Dr. £ Or. £ Administration of Termites Act, 1940.. .. - 1)95 Balance, Ist April, 1943 .. .. .. .. 17,933 Borer-treatment investigation .. .. .. 164 Profit for the year (see combined Revenue and Expenditure Pre-treatment of timber .. .. .. •• 297 Account) .. .. .. .. .. 21,423 Balance, 31st March, 1944 .. . . .. ..37,900 £39,356 £39,356 Balance-sheet as at 31st March, 1944 Liabilities £ Assets £ £ Loan liability .. .. .. .. ..20,030,646 Principal owing under agreements for Sundry creditors — £ sale and purchase .. .. 94,251 Tenancy deposits .. .. .. 15,620 Advances under — Rent paid in advance .. .. 13,231 Part 111, Housing Act, 1919 (loans to Departmental .. .. .. 714 employers) .. .. .. 7,226 Miscellaneous .. .. .. 6,254 Part V, Housing Act, 1919 (local 35,819 authorities: Urban housing) .. 410,403 Insurance Reserve .. .. .. .. 318,350 Rural Housing Act, 1939 .. .. 154,999 Reserves: Rented properties (new) (rates, maintenance, bad debts, and vacant tenancies) .. .. 883,316 666,879 Profit and Loss Account .. .. .. 37,900 Instalments of principal overdue .. 3,130 Interest receivable— Overdue .. .. .. 2,709 Accrued .. .. .. 2,289 Recoverable expenditure .. .. 249 675,256 Less amount in hand unallocated . . 4,19(1 671,060 Rented properties (old) .. .. 683,137 Less Depreciation Reserve .. 81,274 601,863 Rented properties (new) .. .. 20,620,738 Less Depreciation Reserve.. .. 650,815 19,969,923 Rent receivable— Overdue .. .. .. 24,522 Postponed .. . . .. 368 Accrued . . .. .. 8,305 33,195 Insurance Reserve investment (Government stock) and accrued interest .. .. 9,859 Sundry debtors .. .. .. .. 18,583 Writings-ofF Suspense .. .. .. 1,548 £21,306,031 £21,306,031 Note. —Dwellings under construction and vacant land are under the control of the Public Works Department, and all expenditure in connection therewith is included in the accounts of that Department. W. G. Dent, 8.C0m., A.R.A.N.Z., for Chief Accountant. A. D. Park, F.1.A.N.Z., P.R.A.N.Z."! T■ ± M ■ tv Jm at ci > Joint Managing Directors. T. N. Smallwood J b 8 I hereby certify that the Balance-sheet and accompanying accounts have been duly examined and compared with the books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the above departmental note. —Cyril G. Collins, Controller and Auditor-General.

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