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APPENDIX XVII Utilization Branch —Rotorua Conservancy: Statement op Operating Accounts for the Year Ended 31st March, 1949 (Showing Also Figures for tihe Previous Year) Note. —The accounts for the year ended 31st March,. 1949, have not yet been audited by the Controller and Auditor-General, but little if any alteration is likely as a result of audit. Waipa Sawmill Operating Account 1947-48. 1948-49. £ £ Income £ £ The net receipts from the sales of sawn timber after allowing for . selling and transport expenses and for the housing levy included 94,938 as a surcharge in selling prices totalled .. .. .. 143,900 The value of transfers of sawn timber to the box-factory and to . " capital and maintenance works in connection with the plant 136,091 was .. .. .. .. .. .. 112,628 In addition to making the above sales and transfers, the stocks 4,875 of sawn timber were increased during the year by .. .. 8,173 The total income derived from sawn timber produced during the 235,904 year was therefore .. .. .. .. .. 264,701 Expenses, 102,257 The cost of logs sawn during the year was .. .. .. 109,753 Wages and salaries and allowances for compensation and holiday 49,418 pay totalled .. .. .. .. .. .. 57,660 Other expenses of production (including power steam and fuel disposal; maintenance and depreciation of mill buildings, plant and equipment; and office and general expenses) 61,459 totalled .. .. .. .. .. .. 78,059 213,134 The total expenses incurred in production were .. .. 245,472 Deducting the expenses from the income, gives a net profit for £22,770 the year of .. .. .. .. .. .. £19,229 The disposition of the net profit is shown in the Profit and Loss and Appropriation Accounts. Kaingaroa Sawmill Operating Account £ £ Income £ £ The net receipts from sales of sawn timber after allowing for selling and transport expenses and for the housing levy included 8,748 as a surcharge in selling prices totalled .. .. .. 46,024 The value of sawn timber transferred for use in other sections of 554 the plant was . . .. .. .. .. 7,044 In addition to the above sales and transfers, the value of stocks 3,529 on hand was increased during the year by .. .. 1,939 The total income derived from sawn timber produced during the — 12,831 year was therefore .. .. .. .. .. = 55,007 Expenses The cost of logs sawn during the year was .. .. .. 24,976 Wages and salaries and allowances for compensation and holiday pay totalled .. .. .. .. .. .. 11,678 Other expenses of production (including power and waste disposal; maintenance and depreciation of mill buildings, plant, and equipment; and office and general expenses) amounted to .. .. .. .. .. .. 14,769 13,053 The total expenses incurred in production were .. .. 51,423 Deducting the expenses from the income gives a net profit for (Loss) £222 the year of .. .. .. .. .. .. £3,584 Note.—As this mill was not operating as a going concern for the 1947-48 year, detailed expense accounts were not kept. For the same reason, the loss for that year was added to Establishment Account and thus capitalized. The disposition of the net profit for 1948-49 is shown in the Profit and Loss and Appropriation Accounts,

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