New Zealand Gazette – 1934 – No. 60

Page 2359

✨ Financial Accounts and Audit



Aug. 3.] THE NEW ZEALAND GAZETTE. 2359

Three Months ended 30th JUNE, 1934, compared with the Three Months ended 30th JUNE, 1933—continued.

INVESTMENT ACCOUNT.

THREE MONTHS ENDED 30TH JUNE, 1933. EXPENDITURE. THREE MONTHS ENDED 30TH JUNE, 1934.
£ s. d. Dr.7,982,600 0 0 7,982,600 0 0 Balance at end of Three Months,— Cash .. Investment Account— Securities held Totals .. £ s. d. £ s. d. Dr.24,874,085 16 6 24,874,085 16 6 .. ..

A. D. PARK,
Secretary to the Treasury.

G. C. RODDA,
Assistant Secretary to the Treasury.

The Treasury, Wellington,
30th July, 1934.

THE foregoing accounts have been examined and found correct with the following exceptions:—

  1. The total of the balances as shown in the individual sub-accounts which constitute the Public Account amounting to £31,770,438 3s. 2d. is overstated owing to transfers made between sub-accounts being shown so as to increase the total balance of the borrowing sub-account without decreasing the total balance of the lending sub-account.

  2. The credit balances shown as “Cash” in the individual sub-accounts and which amount to £24,932,401 18s. 2d. are overstated by an aggregate amount of £24,874,085 16s. 6d. The latter amount represents sums paid from the Public Account by way of investment and was not held as “Cash” in the Public Account as shown.

NOTE.—This certificate is given subject to the final audit of certain vouchers, which, owing to the post-audit system provided for by the Public Revenues Act, 1926, cannot be completely audited before the date at which the Abstract is required by the Act to be certified.

G. F. C. CAMPBELL,
Controller and Auditor-General, 31st July, 1934.

TREASURY NOTE.—

  1. The cash balances totalling £24,932,401 18s. 2d. referred to in the above audit certificate are made up as follows:—

Cash in current account .. .. .. .. .. £ s. d. 58,316 1 8
Cash on fixed deposit or invested in Treasury bills .. .. .. 24,874,085 16 6
£24,932,401 18 2

  1. As shown in the summary on next page, the total balances amounting to £31,770,438 3s. 2d. are made up as follows:—

Cash .. .. .. .. .. .. .. £ s. d. 58,316 1 8
Imprests .. .. .. .. .. .. 1,803,962 16 0
Investments .. .. .. .. .. 29,908,159 5 6
£31,770,438 3 2

In order to keep idle cash balances down to a minimum and save interest charges the funds of one account are temporarily invested in the Government securities issued by another account. The cash balance of the lending account is decreased by the amount of the investment, but the total balance consisting of cash and investments is not affected.

A. D. PARK,
Secretary to the Treasury.



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✨ LLM interpretation of page content

🚂 Working Railways Account Summary (continued from previous page)

🚂 Transport & Communications
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💰 Investment Account Comparison

💰 Finance & Revenue
30 July 1934
Investment, Expenditure, Treasury, Securities
  • A. D. Park, Secretary to the Treasury
  • G. C. Rodda, Assistant Secretary to the Treasury

💰 Audit Certificate for Public Account

💰 Finance & Revenue
31 July 1934
Audit, Public Account, Balances, Transfers, Vouchers
  • G. F. C. Campbell, Controller and Auditor-General

💰 Treasury Note on Cash Balances

💰 Finance & Revenue
Cash Balances, Investments, Imprests, Treasury Bills
  • A. D. Park, Secretary to the Treasury