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HOUSING ACCOUNT— continued Balance-sheet as at 31st March, 1947— continued £ £ £ Brought forward .. .. .. ..31,706,608 Brought forward .. .. 1,146,641 Insurance Reserve .. .. .. .. .. 535, 042 Instalments of principal overdue .. .. 3,279 Reserves : Rented properties (new), (rates, maintenance, bad Interest receivable— debts, and vacant tenancies) .. .. .. .. 1,623,125 Overdue .. .. .. .. 2,703 Accrued .. .. .. .. 5,609 Recoverable expenditure ... .. 18 1,158,250 Less amount in hand unallocated .. 4,081 1,154,189 Rented properties (old) .. .. .. 746,414 '•'•"';'■■'- Less Depreciation Reserve .. .. 131,414 :-. ■ " " 615,000 Rented properties (new) .. .. 33,382,929 - . Less Depreciation Reserve .. .. 1,414,694 '•- 31,968,235 Rent receivable— Overdue .. .. .. .. 28,495 Postponed .. .. .. .. 343 Accrued .. .. .. .. 12,337 41,175 Sundry debtors .. .. .. .. .. 397 Cash in hand of SA.C. .. .. .. .. .. 61,030 Writings-off Suspense .. .. .. .. .. 1,514 Profit and Loss Account .. .. .. .. 23,255 £33,864,775 £33,864,775 Note.—Dwellings under construction and vacant land are under the control of the Public Works Department, and expenditure in connection therewith is not included in these accounts. W. G. Dent, 8.C0m., F.R.A.N.Z., Chief Accountant. A. D. Pabk, F.1.A.N.Z., F.R.A.N.Z.\ M . tv.-_.___ T. N. Smallwood Directors. I hereby certify that the Balance-sheet and accompanying accounts have been duly examined and compared with the relative books and documents submitted for audit, and correctly set out the position as disclosed thereby, subject to the above departmental note,—J. P. Rutherford, Controller and Auditor-General, 16th September, 1947,

Price 9d.'\

By Authority: E. V. Paul, Government Printer, Wellington.—l 947.

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