19 JANUARY
THE NEW ZEALAND GAZETTE
63

Bank of New Zealand deposits .. .. 2,758
Post Office Savings Bank .. .. 864
Short term deposits .. .. 792

                                      143,745

Commission, fees, etc. .. .. 4,899

                                      £148,644

BALANCE SHEET AS AT 31 MARCH 1966
Current liabilities—
£ £
Depositors balances:
Savings Bank accounts .. .. 2,349,420
Thrift Club accounts .. .. 171,433

                                      2,520,853

Investment accounts .. .. 1,089,888

                                      3,610,741

Other liabilities—
Bank of New Zealand Administration Account 11,910
Interest accrued on investment accounts 22,852
Owing to other trustee savings banks 4,421
Sundry creditors 1,929

                                      41,112

Provision for taxation .. .. 4,702
Less paid .. .. 548

                                      4,154

Provision for donations .. .. 1,500

Total liabilities and provisions .. .. 3,657,507
Reserve Fund—
Balance at 1 April 1965 .. .. 1,401
Add premiums due on redemption of Government stock 8,997
Add balance of Appropriation Account 4,283

                                      14,681
                                      _______
                                      £3,672,188

Current assets—
£ £
Cash in hand and at banks .. .. 68,857
Bank of New Zealand fixed deposit .. .. 150,000
Short Term Deposits Ltd. .. .. 70,000

                                      288,857

Remittances in transit .. .. 1,115
Interest due and accrued on investments 53,959
Payments in advance .. .. 951
Insurance claim .. .. 143
Pass book wallets in hand .. .. 5

                                      56,173

Total current assets .. .. 345,030
Investments (at face value)—
New Zealand Government stock .. .. 2,837,100
Local body securities .. .. 163,240
Mortgages .. .. 310,660

                                      3,311,000

Fixed assets (at cost less depreciation)—
Furniture and fittings .. .. 7,807
Office machinery .. .. 3,902
Alterations, leased premises.. .. .. 2,471
Motor vehicles .. .. 1,978

                                      16,158
                                      _______
                                      £3,672,188

R. L. REEDER, President.
H. D. HUTCHINSON, General Manager.

I, the undersigned, being the auditor of the Bay of Plenty Savings Bank, appointed in terms of section 29 (3) of the Trustee Savings Banks Act 1948, report: 1. I have examined the books, accounts, and vouchers of the bank and have received all the information and explanations required. 2. I have verified the cash, investments, securities, and assets of the bank as at 31 March 1966. 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 my 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 bank’s affairs as at 31 March 1966, and of the results of its business for the year ended on that date.

R. GALLAGHER, F.P.A.N.Z., Auditor.
2361

HAWKE’S BAY AND GISBORNE SAVINGS BANK

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1966
£
Interest on depositors’ closed accounts .. 31,427
Interest on depositors’ open accounts .. 72,266
Accrued interest on depositors’ investment accounts .. 32,445

Total interest accrued and credited to depositors .. 136,138

Charges and administration .. .. 49,401
Depreciation .. .. 2,941
Provision for taxation .. .. 17,177
Net profit transferred to Appropriation Account .. 18,257

                                      £223,914

Interest on New Zealand Government inscribed stock 166,737
Interest on local authority securities 6,820
Interest on mortgages 38,984
Interest on fixed deposits 5,563
Interest on National Provident Fund 193

Total interest on investments .. .. 218,297
Rent .. .. 1,521
Commission .. .. 2,537
Mortgage inspection fees .. .. 1,559

                                      £223,914

BALANCE SHEET AS AT 31 MARCH 1966
Depositors’ balances—
£ £
Savings bank accounts .. .. 2,879,406
Thrift accounts .. .. 186,071

                                      3,065,477

Investment accounts .. .. 1,559,103
Total liability to depositors .. ..
4,624,580
Current liabilities—
Accrued interest on investment accounts 32,445
Bank overdraft 9,904
Provision for donations 2,500
Provision for taxation (Less 1966 provisional tax £8,100) 9,077
Sundry creditors 5,473
Total current liabilities .. ..
59,399
Term liabilities—
Mortgages .. .. 23,650
Staff superannuation fund .. .. 3,676

                                      27,326

Reserve fund—
Balance 31 March 1965 .. .. 14,562
Add balance Appropriation Account 31 March 1966 15,757

                                      30,319
                                      _______
                                      £4,741,624

Current assets—
£ £
Cash resources—
Fixed deposits .. .. 120,000
Cash in hand and at bankers .. .. 122,013
Interest due and accrued on investments 53,421
Prepayments .. .. 410

                                      295,844

Investments (at cost)—
New Zealand Government inscribed stock 3,409,694
Mortgages 855,709
Local authority securities 135,245
Total current assets and investments ___
4,400,648
Fixed assets (at cost less depreciation)—
£
Premises and property .. .. 34,611
Less depreciation .. .. 1,157

                                      33,454

Office furniture and fittings .. .. 13,953
Less depreciation .. .. 3,347

                                      10,606

Other assets .. .. 1,585
Less depreciation .. .. 513

                                      1,072

Total fixed assets .. .. ___
45,132

                                      £4,741,624

P. TAIT, Deputy President.
G. L. COOK, General Manager.

I, the undersigned, being the auditor of the Hawke’s Bay and Gisborne Savings Bank, appointed in terms of section 29 (3) of the Trustee Savings Banks Act 1948, report that: (1) I have examined the books, accounts, and vouchers of the bank, and have received all the information and explanations I have required. (2) I have verified the cash, investments, and assets of the bank as at 31 March 1966. (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 my opinion, the accompanying balance sheet and statements of income and surplus present fairly the financial position of Hawke’s Bay and Gisborne Savings Bank at 31 March 1966 and the results of its operations for the year then ended, in conformity with generally accepted accounting principles applied on the basis consistent with that of the preceding year.

HUGH A. A. BAIRD, Auditor.
Hastings.
2363