B—l3

Brought forward .. .. .. .. 43,535,857 I Brought forward .. .. 1,301,128 Heserves— Instalments of principal receivable .. 8,642 Insurance .. '.. .. .. 703,154 Interest receivable .. .. .. 5,432 Maintenance.. .. .. .. 1,755,063 ! Interest accrued but not due .. .. 7,230 Vacant tenancies and bad debts .. 492, 380 ■— Rates .. .. .. .. 25,972 1,322,432 : 2,976,569 - Less amount in hand unallocated .. 3,815 1,318,617 1 Rented properties (old) . . .. .. 1,147,745 Less Depreciation Reserve .. .. 178, 165 — . 969,580 Rented properties (new) .. .. 45,917,037 Less Depreciation Reserve .. .. 2,174,767 43,742,270 | Rent receivable .. .. .. 39,990 Rent accrued but not due .. .. 13,491 53,481 1 Sundry Debtors— Timber Workers Housing Pool Account (Part 111 Finance Act No. 2, 1946) . . 155, 714 Miscellaneous . . .. .. 700 156,414 \ CashinhandofS.A.C. .. .. .. .. .. 50,693 • Writings-off Suspense . . . . .. -. . • 776 i Profit and Loss Account .. .. .. •• 220,595 £46,512,426 I £46,512,426

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. Park, F.1.A.N.Z., F.R.A.N.Z. \ Manaeine Directors T. N. Smallwood / g g 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. Approximate Cost of Paper.—Preparation, not given ; printing (949 copies), £O7.

By Authority: B. E. Owen, Government Printer, Wellington.— 1949. Price 9d .]

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