New Zealand Gazette – 1935 – No. 56

Page 2157

✨ Financial Statements and Treasury Notes



Aug. 2.] THE NEW ZEALAND GAZETTE. 2157

Three Months ended 30th JUNE, 1935, compared with the Three Months ended 30th JUNE, 1934—continued.

INVESTMENT ACCOUNT.

THREE MONTHS ENDED 30TH JUNE, 1934. EXPENDITURE. THREE MONTHS ENDED 30TH JUNE, 1935.
£ s. d. Dr.24,874,085 16 6 24,874,085 16 6 Balances at end of Three Months,— Cash .. .. .. .. .. .. .. .. .. .. Investment Account— Securities held .. .. .. .. .. .. .. .. .. .. Totals .. .. .. .. .. .. .. .. .. .. £ s. d. Dr.1,170,000 0 0 1,170,000 0 0

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

B. C. ASHWIN,
Second Assistant Secretary to the Treasury.

The Treasury, Wellington,
29th July, 1935.

THE foregoing accounts have been examined and are certified with the following exceptions:—

  1. The total of the balances as shown in the individual sub-accounts, which constitute the Public Account, amounting to £15,661,801 15s. 8d., 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 £5,075,085 6s. 1d., are overstated by an aggregate amount of £1,170,000. The latter amount represent sums paid from the Public Account by way of investment, and was not held as “Cash” in the Public Account as shown.
  3. An amount of £125,000 was paid during the quarter from the Public Works Fund, General Purposes Account, in respect of the purchase of 500,000 £1 shares of the Mortgage Corporation of New Zealand. Such payment is not shown as expenditure in the account, the amount being shown as a balance of the account at the end of the three months.

NOTE.—This certificate is given subject to further comments which will be made in my annual report, and subject also 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.

J. H. FOWLER,
Deputy Controller and Auditor-General, 31st July, 1935.

TREASURY NOTES :—

  1. As shown in the summaries on the next page, the balances of accounts, amounting in the aggregate to £15,661,801 15s. 8d., are made up as follows:—

Cash .. .. .. .. .. .. .. .. .. .. .. .. £ 3,905,085 6 1
Imprests .. .. .. .. .. .. .. .. .. .. .. 2,014,707 13 9
Investments .. .. .. .. .. .. .. .. .. .. 9,742,008 15 10
£15,661,801 15 8

In order to keep idle cash balances down to a minimum and save interest charges the funds of one account are temporarily invested under the provisions of section 39 of the Public Revenues Act, 1926, 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.
2. The £1,170,000 of investments referred to are shown in the Public Account Cash Balance Investment Account and in the summary on the next page. The amount represents a general temporary investment of cash not immediately required for expenditure.
3. The £125,000 for purchase of shares in the Mortgage Corporation is not expenditure but an investment, and has been treated in the accounts as such.

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



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✨ LLM interpretation of page content

💰 Working Rail Financial Statement (continued from previous page)

💰 Finance & Revenue
Financial Statements, Working Rail, Revenue, Expenditure, Balances
  • G. C. Rodda, Acting Secretary to the Treasury
  • B. C. Ashwin, Second Assistant Secretary to the Treasury

💰 Audit Certificate for Public Account

💰 Finance & Revenue
31 July 1935
Audit, Public Account, Financial Discrepancies, Treasury
  • J. H. Fowler, Deputy Controller and Auditor-General

💰 Treasury Notes on Public Account Balances

💰 Finance & Revenue
Treasury Notes, Public Account, Cash Balances, Investments
  • G. C. Rodda, Acting Secretary to the Treasury