7 OCTOBER
THE NEW ZEALAND GAZETTE
1763

SOUTH CANTERBURY SAVINGS BANK

PROFIT AND LOSS ACCOUNT FOR THE 8½ MONTHS TO 31 MARCH 1965

Interest credited and accrued to depositors* .. £ s. d.
11,805 16 6
Management expenses—
Salaries and wages .. £ s. d.
2,400 18 7
Repairs and maintenance .. 20 8 7
Rent .. 911 6 3
————————
3,332 13 5
Other expenses—
Foundation expenses .. 419 1 5
Printing and stationery .. 1,003 6 8
Advertising .. 894 0 9
General expenses .. 1,395 1 6
————————
3,711 10 4
Depreciation .. 521 6 10
Provision for taxation .. 126 6 11
Net profit .. 439 5 0
————————
£19,936 19 0
=========

Interest on—
Fixed deposits .. £ s. d. £ s. d.
339 0 1
Government stock .. 17,550 16 6
Local body debentures .. 255 16 3
Mortgages .. —
————————
18,145 12 10
Commissions, etc. .. 1,791 6 2
————————
£19,936 19 0
=========

BALANCE SHEET AS AT 31 MARCH 1965

Depositors’ balances—
Savings bank .. £ s. d. £ s. d.
518,918 14 9
Thrift clubs .. 21,670 7 8
Investment accounts .. 232,641 0 0
Interest accrued on investment
accounts .. 4,060 16 4
————————
777,290 18 9
Other liabilities—
Bank overdraft .. 6,993 4 6
Sundry creditors .. 3,256 0 0
Provision for taxation .. 126 6 11
————————
10,375 11 5
Reserve Fund—
Balance from Profit and Loss
Appropriation Account .. 439 5 0
————————
£788,105 15 2
=========

Current assets—
Cash in hand and at bankers.. £ s. d. £ s. d.
7,978 8 4
Fixed deposits .. 20,300 0 0
Interest accrued on invest-
ments .. 13,654 19 8
Owing by other trustee banks .. 5,669 17 1
————————
47,603 5 1
Investments (at cost)—
New Zealand Government
stock .. 475,298 0 0
Local authority securities .. 24,250 0 0
————————
499,548 0 0
Securities—
Investment account securities—
New Zealand Government
stock (at cost) .. 236,702 0 0
————————
236,702 0 0
Fixed Assets (at cost)—
Office machines, furniture, etc. 4,425 10 1
Less depreciation .. 452 0 0
————————
3,973 10 1
Alterations and fittings (lease-
hold premises) .. 348 6 10
Less depreciation .. 69 6 10
————————
279 0 0
————————
£788,105 15 2
=========

Capital Commitments, £25,750.
G. S. RAYMOND, President.
D. R. PARKER, Manager.

We, the undersigned, being the auditors of South Canterbury Savings Bank, appointed in terms of section 29 (3) of the Trustee Savings Banks Act 1948, report that: (1) We have examined the books, accounts, and vouchers of the bank, and have received all of the information and explanations we have required. (2) We have verified the cash, investments, securities, and assets of the bank as at 31 March 1965. (3) The 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 present fairly the financial position of South Canterbury Savings Bank at 31 March 1965, and the results of its operations for the period then ended, in conformity with generally accepted accounting principles.

HUBBARD, CHURCHER, GABITES AND CO., Auditors.
Timaru, 26 May 1965.
5358

OTAGO SAVINGS BANK

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1965

Interest credited to depositors—
Open accounts .. £ s. d. £ s. d.
278,075 8 8
Closed accounts .. 24,281 14 1
Credited and accrued on in-
vestment accounts .. 39,485 2 2
Interest and suspensory free
deposits credited to home
lay-by accounts .. 2,102 3 5
————————
343,944 8 4
Interest on staff provident funds .. 3,692 2 10
Charges and administration expenses—
Trustees’ honoraria .. 1,172 10 0
Salaries and wages .. 62,790 19 4
Maintenance and repairs .. 3,248 19 8
Rents and rates .. 3,626 4 2
Advertising .. 9,276 18 7
Printing and stationery .. 4,537 6 4
Other administration expenses 25,958 7 8
————————
110,611 5 9
Depreciation and other allow-
ances, etc.—
Buildings .. 8,205 2 0
Office furniture .. 8,688 11 0
————————
16,893 13 0
Provision for taxation .. 56,638 10 8
Profit and Loss Appropriation
Account — net profit .. 54,786 10 7
————————
£586,566 11 2
=========

Interest on—
Fixed deposits, etc. .. £ s. d.
19,120 11 4
Government stock .. 293,163 18 2
Local body debentures .. 35,906 4 1
Mortgages .. 222,761 15 8
Rents .. 7,164 14 4
Commissions, refunds, etc. .. 6,885 18 7
Valuation fees recovered .. 1,563 9 0
————————
£586,566 11 2
=========

BALANCE SHEET AS AT 31 MARCH 1965

Depositors’ Balances—
Savings bank department 10,118,690 7 8
Thrift club accounts .. 290,523 4 8
Special purpose accounts .. 377,886 2 9
Home lay-by accounts .. 60,089 12 3
Investment accounts .. 1,238,555 0 0
————————
Ordinary and investment account deposi-
tors’ total .. 12,085,744 7 4
National savings depositors’ balances .. 1,086,116 10 9
Add National Savings Interest Suspense
Account .. 19,612 3 7
————————
1,105,728 14 4
Total liability to depositors .. 13,191,473 1 8
Other liabilities and credit balances—
Accrued interest, investment accounts .. 25,807 16 6
Sundry creditors .. 2,319 13 4
Owing to other trustee savings banks .. 17,342 8 5
Staff provident funds .. 81,012 9 4
Provision for taxation .. 56,638 10 8
Provision for grants .. 19,000 0 0
Provision for suspensory free deposits on home
lay-by accounts .. 1,000 0 0
————————
203,120 18 3
Reserve Fund Account .. 666,961 15 4
————————
£14,061,555 15 3
=========

Current Assets—
Cash in hand and at bankers .. £ s. d. £ s. d.
409,335 8 10
Fixed deposits .. 200,000 0 0
National Provident Fund .. 227,557 14 11
————————
836,893 3 9
Interest due and accrued on investments, etc. .. 127,533 13 9
Owing by other trustee Savings banks .. 2,799 1 7
Rents due and accrued.. 201 10 9
————————
967,427 9 10