1738
THE NEW ZEALAND GAZETTE
No. 61

BALANCE SHEET AS AT 31 MARCH 1968—continued
1967
$
142,658
200,000
72,985
3,665
183

419,491

4,884,760
191,987
665,984

5,742,731

88,839
22,314

111,153
13,070

98,083
$6,260,305

Current assets—
Cash on hand and
at bankers ..
Fixed deposits ..
Accrued interest
on investments
Owing by other
trustee savings
banks ..
Sundry debtors ..
Taxation refund
due ..
Stationery on hand

1968
$
172,895.88
200,000.00
75,268.81
2,823.16
2,344.29
5,613.06
2,761.76
461,706.96

Investments (at face value)—
Government stock
(Note 1) ..
Local body securi-
ties ..
Mortgages ..

5,169,340.00
199,649.36
703,956.73
6,072,946.09

Fixed Assets (at cost)—
Land, buildings,
and improve-
ments ..
Furniture, fittings,
and equipment

99,978.16
27,884.28
127,862.44

Less accumulated
depreciation ..

17,202.54
110,659.90
$6,645,312.95

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1968
1967
$
186,458
1,618

30,320
613
4,019
4,926

6,103
15,863
3,321
7,664
11,601
10,196
11,556

$294,258

Interest on—
11,051
229,613
9,449
33,077
1,289
6,821

1,801
1,157

$294,258

Interest to depositors
Trustees fees

Management expenses—
Salaries ..
Repairs and maintenance ..
Depreciation ..
Rent and rates ..

Other expenses—
Advertising ..
Branch expenses ..
Stationery ..
Building expenses—Head Office
Others ..
Provision for taxation
Net profit ..

(a) Deposits etc. ..
(b) Government stock ..
(c) Local body ..
(d) Mortgage ..
Commission, fees, etc.
Rents—Head Office building ..
Other receipts—
Brokerage ..
Gain on Government stock

1968
$
206,515.18
1,970.25

45,536.77
1,540.49
4,061.12
11,474.68

4,610.04
17,788.58
3,816.05
7,721.86
13,849.66
4,583.00
7,543.60
$331,011.28

12,944.48
255,430.94
10,352.29
40,060.73
1,784.92
8,737.69

869.15
831.08
$331,011.28

PROFIT AND LOSS APPROPRIATION ACCOUNT FOR YEAR ENDED
31 MARCH 1968
1967
$
3,500
200
7,856

$11,556

Provision for donations ..
Goodwill written off ..
Balance to reserve fund ..

1968
$
2,100.00
5,443.60
$7,543.60

PROFIT AND LOSS APPROPRIATION ACCOUNT FOR YEAR ENDED
31 MARCH 1968—continued
1967
$
11,556

$11,556

Net profit from profit and loss account ..

1968
$
7,543.60

$7,543.60

NOTE 1—Premiums on redemption of government stock: It is
the Bank’s policy to hold government stock investments until
maturity. In accordance with this policy, discounts or premiums
on purchase are amortised on a straight-line basis over the term
of the investments. The values on 31 March 1968 were as follows

Cost value
Face value
Market value

$5,172,062
$5,169,340
$4,944,656

NOTE 2—Accrued interest on investment accounts: Interest
on investment accounts has been accrued at the average rate paid
during the year.

K. R. PATTERSON, President.
G. I. C. MCDOUALL, General Manager.

AUDITORS’ REPORT

We have examined the records and financial accounts of the
Wanganui Savings Bank for the year ended 31 March 1968. Our
examinations were made in accordance with the general principles
of auditing and accordingly included such tests of the accounting
records and such other auditing procedures as we considered
necessary in the circumstances. In our opinion, the accompanying
balance sheet with notes attached and the profit and loss account
present fairly the financial position of the Wanganui Savings
Bank at 31 March 1968, and the results of its operation for the
year then ended.

SILK MASON AND COMPANY, Auditors.
Wanganui, 17 May 1968.

1951

MANAWATU WAIRARAPA SAVINGS BANK

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1968
1967
$
172,796
79,284

252,080
9,422
8,008
56,274

4,018
10,374
19,834

107,930
7,496
7,614

375,120

2,794

4,820

$7,614

Interest—
Credited to depositors
Accrued ..

Advertising ..
Printing and stationery
Salaries ..

Property expenses:
Mortgage interest and repairs
Rent and rates
Trustees’ Remuneration
Other administration expenses ..

Depreciation ..
Profit—carried down ..

Taxation—
Provision for taxation..
Under-provided 1967 ..
Loss on disposal of assets
Net Profit—Transferred to appropriation
account ..

1968
$
181,496
84,254
265,750

8,070
7,551
78,287

5,780
11,166

22,653
133,507

8,535
875
408,667

19
733
623
$1,375

1967
$
278,080
93,706

371,786
1,846
1,488

375,120
7,614

$7,614

Interest on investments—
Received ..
Accrued ..

Premium on investments
Brokerage and commissions
Rents ..

Profit—brought down
Goodwill—sale of lease ..

1968
$
310,540
90,763
404,303

3,401
3,360
603
408,667

875
500
$1,375