14 MARCH

OTAGO SAVINGS BANK
PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1967

Interest credited to depositors—
Open accounts .. .. .. 304,149
Closed accounts .. .. .. 28,784
Credited and accrued on investment accounts .. .. .. 92,467
Interest and suspensory free deposits credited to home lay-by accounts .. 1,804
427,204

Interest on staff provident funds .. .. 4,882
Trustees' honoraria .. .. .. 1,772
Salaries and wages .. .. .. 93,138
Maintenance and repairs .. .. .. 1,664
Rents and rates .. .. .. 7,251
Advertising .. .. .. 12,043
Printing and stationery .. .. .. 6,068
Other administration expenses .. .. 40,207

Depreciation and other allowances, etc.—
Buildings .. .. .. 4,751
Office furniture .. .. .. 16,891
21,642

Provision for taxation—including adjustment for 1966 .. .. .. 56,175
Profit and loss appropriation account—net profit .. .. 56,971
£729,017

Interest on—
Fixed deposits, etc. .. .. 23,712
Government stock .. .. 395,947
Local body debentures .. .. 38,727
Mortgages .. .. 252,869
Rents .. .. 5,191
Commissions, refunds, etc. .. 9,923
Valuation fees recovered .. 2,648
£729,017

PROFIT AND LOSS APPROPRIATION ACCOUNT FOR YEAR ENDED 31 MARCH 1967

Provision for grants .. .. .. 22,000
Reserve fund account .. .. .. 34,971
£56,971

Profit and loss account .. .. 56,971
£56,971

BALANCE SHEET AS AT 31 MARCH 1967

Depositors' balances—
Savings bank department .. 10,949,155
Thrift club accounts .. 325,259
Special purpose accounts .. 566,414
Home lay-by accounts .. 51,984
Investment accounts .. 2,675,665
Ordinary and investment account depositors' total .. 14,568,477
National Savings depositors' balances 695,561
Add National Savings interest suspense account.. 13,243
708,804
Total liability to depositors .. 15,277,281

Other liabilities and credit balances—
Staff provident funds .. 105,515
Accrued interest, investment accounts 62,307
Sundry creditors .. 1,104
Owing to other trustee savings banks 11,082
Provision for taxation .. 56,159
Provision for grants .. 22,000
Provision for suspensory free deposits on home lay-by accounts .. 1,000
259,167
Reserve fund account .. 768,753
£16,305,201

Current assets—
Cash in hand and at bankers .. 325,829
Fixed deposits .. 325,000
National Provident Fund .. 115,864
766,693

Interest due and accrued on investments, etc. .. 172,291
Owing by other trustee savings banks 2,868
Rents due and accrued .. 440
Total current assets .. 942,292

THE NEW ZEALAND GAZETTE

Investments—
New Zealand Government inscribed stock—at face value .. .. 5,883,371
Local body debentures—at cost .. 787,533
First mortgages on freehold property 4,841,483
Total of investments .. 11,512,387

Total of current assets and investments .. 12,454,679

Securities—
Investment account securities—
New Zealand Government inscribed stock .. 2,608,773
Cash on hand and at bankers .. 129,198

National Savings securities—
New Zealand Government inscribed stock .. 695,561
Cash on hand and at bankers .. 13,243

Total securing investment accounts and National Savings depositors .. 3,446,775

Total of current assets, investments, and securities .. 15,901,454

Fixed assets—at cost less depreciation—
Land and buildings—
Balance 1 April 1966 .. 240,048
Plus additions .. 110,365
350,413

Less depreciation .. 4,751
345,662

Office furniture, etc.—
Balance 1 April 1966 .. 50,168
Plus additions .. 24,808
74,976

Less depreciation .. 16,891
58,085

£16,305,201

C. D. STANDAGE, President.
W. G. HILLIKER, General Manager.

We, the undersigned, being the auditors of the Otago Savings 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 1967. (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 present fairly the financial position of the Otago Savings Bank at 31 March 1967 and the results of its operations for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year.

JAMES BROWN AND CO. J.S. McINNES AND SONS Auditors.
Dunedin, 24 April 1967.

583

SOUTHLAND SAVINGS BANK

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1967

Interest credited to depositors—
Savings bank accounts—
Open .. .. .. .. 350,329
Closed .. .. .. .. 10,866
361,195

Investment accounts, credited and accrued
National Savings accounts—
Open .. .. .. .. 3,522
Closed .. .. .. .. 295
3,817

Charges and administration expenses—
Cleaning .. .. .. 353
Earthquake damage insurance .. 257
Fuel and light .. .. 1,875
Insurance .. .. .. 2,880
Perusal fees .. .. .. 81
Postages, telephones, and tolls .. 2,795
Printing, stationery, and advertising .. 15,994
Rent .. .. .. 294
Repairs and maintenance .. 5,508
Salaries, fees, etc. .. .. 89,998
Sundry charges .. .. 4,211
Superannuation .. .. 9,772
Travelling and relieving expenses .. 5,425
Trustees honoraria .. .. 1,661
141,104