✨ Financial Statements
JUNE 9.] THE NEW ZEALAND GAZETTE. 1365
RESERVE BANK OF NEW ZEALAND.
PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31ST MARCH, 1938.
| £ s. d. | £ s. d. |
|---|---|
| To General charges, including salaries, rent, cost of note issue, and other expenses 90,753 15 9 | By Balance of profit after making provision for rebate on Treasury Bills not yet due, and for sundry liabilities and contingencies .. .. .. 299,064 19 4 |
| Staff Superannuation and Provident Fund 12,500 0 0 | |
| Balance, being profit for year .. .. 195,811 3 7 | |
| £299,064 19 4 | £299,064 19 4 |
PROFIT AND LOSS APPROPRIATION ACCOUNT.
| £ s. d. | £ s. d. |
|---|---|
| To Payment to New Zealand Government in terms of Section 36 of Reserve Bank of New Zealand Act, 1933 .. .. 47,142 13 6 | By Balance at 1st April, 1937 .. .. 47,142 13 6 |
| Balance .. .. .. .. 195,811 3 7 | Balance from Profit and Loss Account .. 195,811 3 7 |
| £242,953 17 1 | £242,953 17 1 |
Balance | £195,811 3 7
BALANCE-SHEET AS AT 31ST MARCH, 1938.
| Liabilities. | Assets. |
|---|---|
| £ s. d. | £ s. d. |
| General Reserve Fund .. .. 1,500,000 0 0 | Gold (at face value) .. .. 2,801,791 0 0 |
| Bank-notes .. .. .. 13,553,546 10 0 | Sterling exchange .. .. 16,535,053 16 0 |
| Demand liabilities— | Subsidiary coin .. .. 227,798 0 7 |
| (a) State .. .. .. 6,138,218 10 7 | Advances— |
| (b) Banks .. .. .. 5,477,773 19 2 | (a) To the State or State undertakings— |
| (c) Other .. .. .. 271,175 2 5 | (1) Primary Products Marketing Department .. .. 5,200,848 17 5 |
| Other liabilities .. .. .. 96,992 10 3 | Investments .. .. 2,423,525 0 0 |
| Profit and Loss Appropriation Account .. 195,811 3 7 | Other assets .. .. 44,501 2 0 |
| N.B.—Holdings of sterling have been converted into New Zealand currency at the rate of £100 sterling equals £124 New Zealand. | |
| £27,233,517 16 0 | £27,233,517 16 0 |
L. LEFEAUX, Governor.
W. F. L. WARD, Deputy Governor.
W. H. WELSH, Chief Accountant.
AUDITORS’ CERTIFICATE AND REPORT.
We have audited the balance-sheet as at 31st March, 1938, above set forth and have obtained all the information and explanations we have required.
We have accepted the certificate of the Bank of England as to assets held on account of the Reserve Bank of New Zealand.
In our opinion the balance-sheet is properly drawn up so as to exhibit a true and correct view of the state of the affairs of the bank as at 31st March, 1938, according to the best of our information and the explanations given to us and as shown by the books of the bank.
D. G. JOHNSTON,
J. L. GRIFFIN,
} Public Accountants, Auditors.
Wellington, New Zealand, 26th May, 1938.
RESERVE BANK OF NEW ZEALAND.
STATEMENT OF ASSETS AND LIABILITIES OF THE RESERVE BANK OF NEW ZEALAND AS AT THE CLOSE OF BUSINESS ON MONDAY, 6TH JUNE, 1938.
| Liabilities. | Assets. |
|---|---|
| £ s. d. | £ s. d. |
| 1. General Reserve Fund .. .. 1,500,000 0 0 | 7. Reserve— |
| 2. Bank-notes .. .. .. 13,832,283 0 0 | (a) Gold .. .. 2,801,791 0 0 |
| 3. Demand liabilities— | (b) Sterling exchange .. .. 17,801,586 3 9 |
| (a) State .. .. .. 4,790,626 10 6 | (c) Gold exchange .. .. .. |
| (b) Banks .. .. .. 7,517,546 1 9 | 8. Subsidiary coin .. .. 226,987 7 0 |
| (c) Other .. .. .. 305,785 3 5 | 9. Discounts— |
| 4. Time deposits .. .. .. .. | (a) Commercial and agricultural bills .. .. .. |
| 5. Liabilities in currencies other than New Zealand currency .. .. .. | (b) Treasury and local-body bills .. |
| 6. Other liabilities .. .. .. 97,759 1 2 | 10. Advances— |
| (a) To the State or State undertakings— | |
| (1) Primary Products Marketing Department 3,963,237 10 5 | |
| (2) For other purposes .. 300,000 0 0 | |
| (b) To other public authorities .. .. | |
| (c) Other .. .. .. | |
| 11. Investments .. .. 2,735,564 16 7 | |
| 12. Bank buildings .. .. .. | |
| 13. Other assets .. .. 214,832 19 1 | |
| £28,043,999 16 10 | £28,043,999 16 10 |
Proportion of reserve (No. 7 less No. 5) to notes and other demand liabilities, 77·906 per cent.
W. H. WELSH, Chief Accountant.
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VUW Te Waharoa —
NZ Gazette 1938, No 42
NZLII —
NZ Gazette 1938, No 42
✨ LLM interpretation of page content
💰 Reserve Bank of New Zealand Profit and Loss Account for Year Ended 31st March, 1938
💰 Finance & RevenueProfit and Loss Account, Reserve Bank, Financial Statements
- L. LeFeaux, Governor
- W. F. L. Ward, Deputy Governor
- W. H. Welsh, Chief Accountant
💰 Reserve Bank of New Zealand Profit and Loss Appropriation Account
💰 Finance & RevenueProfit and Loss Appropriation, Reserve Bank, Financial Statements
- L. LeFeaux, Governor
- W. F. L. Ward, Deputy Governor
- W. H. Welsh, Chief Accountant
💰 Reserve Bank of New Zealand Balance-Sheet as at 31st March, 1938
💰 Finance & RevenueBalance-Sheet, Reserve Bank, Financial Statements
- L. LeFeaux, Governor
- W. F. L. Ward, Deputy Governor
- W. H. Welsh, Chief Accountant
💰 Auditors’ Certificate and Report for Reserve Bank of New Zealand
💰 Finance & Revenue26 May 1938
Auditors’ Certificate, Reserve Bank, Financial Statements
- D. G. Johnston, Public Accountant, Auditor
- J. L. Griffin, Public Accountant, Auditor
💰 Reserve Bank of New Zealand Statement of Assets and Liabilities as at 6th June, 1938
💰 Finance & RevenueAssets and Liabilities, Reserve Bank, Financial Statements
- W. H. Welsh, Chief Accountant