B—l [Pt. IV]

SMALL FARMS SCHEME— continued COMBINED SECTIONS— continued Balance-sheet as at 31st March, 1946 Liabilities Assets £ Capital accounts: Liability to Consolidated Fund £ £ Leased land .. .. .. .. .. .. 287,875 under section 6, National Development Loans Unleased land .. .. .. .. .. 3,960 Act, 1941, for funds provided by— .. Blocks under development— Public Works Account . .. .. ..2,141,079 Purchase price of areas being developed, including £ Land for Settlements Account .. .. 3,670,689 value of Education endowment land set aside.. 2,725,881 Consolidated Fund .. .. .. .. 39,000 Gross capital expenditure on development .. 2,515,983 War Expenses Account .. .. .. 4,842 Expenditure on live-stock and farm working .. 608,843 5,855,610 Chattels (including store buildings) .. .. 154,630 Subsidies— Employment Promotion Fund .. .. 504,340 6,005,337 Consolidated Fund .. .. .. .. 586, 368 Less value of blocks partly disposed of— 1,090,708 £ Loan from Social Security Fund .. .. .. 3,161 Unimproved value .. . . 46,023 Land donated .. .. .. .. .. 368 Improvements .. .. .. 141, 225 Land set aside for small farms Education endowment lands 15,748 187,248 Creditors— 5, 8 18,089 Rent .. .. .. .. .. 20 Compensation for land taken (recoverable on selection) .. 181,960 Miscellaneous (departmental, &c.) .. .. 21,086 Loan to Napier Harbour Board— 21,106 Ahuriri Lagoon .. .. .. .. 36,221 Water Supply Account: Maintenance .. .. .. 1,509 Accrued interest .. .. .. .. 8,706 Profit on blocks disposed of (not finalized) .. .. 10,250 44,927 Payments in advance— Water-supply schemes: Headworks .. .. .. 19,740 Rent .. .. .. .. .. 308 Advances to small farm occupiers— Principal: Instalment mortgages .. .. 344 Current Account— £ Interest— £ Improvements .. .. 19,540 Instalment mortgages .. .. 451 Stock and chattels .. .. 36,157 Sharemilkers' loans .. .. 4 55,697 Current Account .. .. .. 17 Instalment mortgages .. .. .. 331,731 472 387,428 Water levies .. .. .. .. 80 Advances under sharemilkers' agreements .. .. 1,4.71 1,204 Dairy-company shares .. .. .. •• 753 Accrued interest on capital on blocks being developed .. 449,704 Deposits held by dairy companies .. .. 2,396 Writings-off in Suspense .. .. .. .. 18,208 Less reserve .. .. .. .. 526 Capital Reserve: Special assets taken over at book value .. 39,453 1,870 Treasury Adjustment Account: Being interest on Realization Account: Leased areas in course of capital— realization .. .. .. .. .. .. 7,889 Due to Land for Settlements Account .. .. 113,925 Blocks in course of disposal (not finalized) .. .. 259,684

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