10 AUGUST

THE NEW ZEALAND GAZETTE

PROFIT AND LOSS APPROPRIATION ACCOUNT

Provision for donations £ s. d.
6,500 0 0
General Reserve Fund 47,046 12 5
£53,546 12 5

Balance from Profit and Loss Account .. 53,546 12 5
£53,546 12 5

BALANCE SHEET AS AT 31 MARCH 1961

Current Liabilities

Depositors' balances—
Savings bank accounts . 10,074,385 19 2
Thrift club accounts 10,759 1 3
National savings accounts 10,085,145 0 5
297,643 7 9
Other liabilities—
Inland Revenue Dept.:
Stamp duty 420 16 0
National Savings Interest
account 7,802 11 8
Mortgage interest rebates
provision 1,261 13 6
Provision for donations 6,500 0 0
Provision for taxation 52,457 17 5
68,442 18 7

Total liabilities and
provisions 10,451,231 6 9
Reserve Fund—
Balance at 1 April 1960 334,751 12 2
Add Investment Fluctuation Account 12,766 11 6
Add Profit and Loss Appropriation Account 47,046 12 5
394,564 16 1
Less under-provision for taxation, 1960 1 4
394,564 14 9
£10,845,796 1 6

Current Assets

Cash in hand and at banks £ s. d.
National Bank of New Zea- 213,761 13 1
land Ltd.: Fixed deposits 550,000 0 0
Branch remittances in transit 4,603 3 11
Interest due and accrued on investments 106,869 4 7
Sundry debtors: Valuation fees 71 11 0
763,761 13 1

Investments—
New Zealand Government stock 4,695,245 0 0
New Zealand Government stock, National Development Loan 435,885 0 0
Local body stock and debentures 2,414,513 11 9
Mortgages 2,048,212 7 6
9,593,855 19 3
National savings securities 307,000 0 0
Total of current assets and investments 10,776,161 11 10
Fixed assets at cost less depreciation—
Buildings 51,615 4 1
Less depreciation 1,595 0 0
Furniture and fittings 7,923 6 5
Add additions 610 1 5
8,533 7 10
Less depreciation 1,670 6 0
Ledger-posting machines 4,340 4 3
Add additions 1,734 0 0
6,074 4 3
Less depreciation 1,212 12 0
Office machines 521 7 6
Add additions 174 0 0
695 7 6
Less depreciation 129 0 0
Property 566 7 6
£10,845,796 1 6

R. M. STRANG, President.
J. T. SHAW, General Manager.

We, the undersigned, being the auditors of the Invercargill
Sav ngs Bank, appointed in terms of section 29 (3) of the Trustee
Savings Banks Act 1948, report: (1) We have examined the books,
accounts, and vouchers of the bank and have received all the
information and explanations we have required. (2) We have
verified the cash, investments, securities, and assets of the bank as
at 31 March 1961. (3) The General Manager has certified that, to
the best of his knowledge and belief, all requirements of the Trustee
Savings Banks Act 1948 and regulations thereunder have been
complied with.

In our opinion the above balance sheet and profit and loss
account are properly drawn up so as to give respectively a true and
fair view of the state of the Invercargill Savings Bank’s affairs as
at 31 March 1961 and of the results of its business for the year
ended on that date.

HENDERSON, ADAM, AND CO., Auditors.
J. G. HENDERSON, B.COM., F.P.A.N.Z., A.C.I.S.
W. T. ADAM, A.P.A.N.Z.

Invercargill, 30 April 1961

WAIKATO SAVINGS BANK

RECEIPTS AND PAYMENTS FOR YEAR ENDED 31 MARCH 1961

Receipts
Cash in hand and at bank 31 March 1960 £ s. d.
12,302 8 2
Deposits—
Savings bank accounts 1,736,696 17 4
Thrift accounts 167,442 9 11
Investment accounts 161,660 0 0
Interest—
New Zealand Government stock 43,462 16 0
Local body stock 2,335 5 7
Australia and New Zealand Bank Ltd. fixed deposit 1,150 0 0
Mortgages 241 13 6
Investments—
New Zealand Short Term Investment Ltd. 120,000 0 0
Local body 51 1 5
Mortgage repayments 700 0 0
Mortgage inspection fees 105 0 0
General reserve 2 2 0
Advertising 253 7 6
Exchange and commissions 1,908 0 6
£2,248,311 1 11

Payments
Withdrawals—
Savings bank accounts 931,539 13 2
Thrift accounts 82,826 0 9
Investment accounts 25,509 14 11
Investments—
New Zealand Government stock 849,000 0 0
Local body stock 91,426 1 10
Australia and New Zealand Bank Ltd. fixed deposit 60,000 0 0
Mortgage advances 118,750 0 0
Local body interest 81 2 2
Insurance 63 11 4
Bank interest on overdraft 26 7 0
Postages and telephones 290 19 4
Power 56 16 10
Stationery 831 0 2
Advertising 1,791 2 7
Maintenance 23 8 0
Cleaning 180 0 8
Salaries 5,189 7 0
Travelling expenses 432 15 8
Motor-vehicle expenses 82 2 4
General expenses 525 5 10
Legal expenses 19 4 6
Audit fee 278 0 0
Rent 1,364 1 11
Bank charges 29 10 0
Exchange and commission 69 7 9
Trustees honoraria 740 8 0
Taxation paid 375 1 11
Building alterations 139 6 5
Furniture and fittings 2,130 0 1
Bookkeeping machines 165 0 0
Motor vehicle 1,014 0 0
Goodwill 900 0 0
Cash in hand, 31 March 1961 25,323 4 1
Cash at bank, 31 March 1961 47,138 7 8
£2,248,311 1 11