2226
THE NEW ZEALAND GAZETTE
No. 78

BALANCE SHEET FOR YEAR ENDED 31 MARCH 1968—continued

1967
$

Other liabilities and provisions—continued
3,200
Provision for donations ..

135,716

Reserve Fund—
11,368
Balance as at 1 April 1967
9,720
Add balance of appropriation account transferred

21,088

39,512
Investment fluctuation account (Note 1) ..

60,600

$10,159,156

1967
$

Current Assets—
438,392
Cash in hand and at bankers
140,000
Fixed deposits at bankers

3,392
Short-term investments ..
17,770
Remittances in transit ..

Owing by trustee savings banks

454
Sundry debtors

133,638
Interest and commission due and accrued on investments ..

1,880
Payments in advance ..

Taxation prepayment

735,526

Investments (at cost, unless otherwise stated)—
7,483,200
New Zealand Government stock (Note 1)
660,560
Local authority stock and debentures ..
1,229,130
Mortgages ..

9,372,890

Fixed assets (Note 2)—
960
Land ..
7,244
Buildings
19,018
Furniture, fittings, and equipment ..
10,822
Office machinery
7,272
Alterations leased premises
5,424
Motor vehicles ..

50,740

$10,159,156

P. H. LEONARD, President.
P. D. MUNN, General Manager.

Capital Commitments (Note 3).

NOTES TO THE ACCOUNTS

NOTE 1—The Board has decided, as from 1 April 1967, to amortise the discounts and premiums annually over the term of the investment on a straight line basis, and to show the value of the stock in the balance sheet at cost price plus amortised discount to date. Previously New Zealand Government stock was shown at face value with discounts and premiums showing as an investment fluctuation account. In accordance with this policy, the sum of $6,125 has been transferred to the profit and loss appropriation account.

NOTE 2—The basis of the valuation of fixed assets is at cost less accumulated depreciation to date, which has been charged at the rates approved by the Inland Revenue Department.

$

Accumulated depreciation to 31 March 1967
.. 18,402
Depreciation, year ended 31 March 1968
.. 9,728

$28,130

NOTE 3—Mortgages approved, not yet advanced
.. $134,600

AUDITOR’S REPORT

I, the undersigned, being the auditor of the Bay of Plenty Savings Bank, appointed in terms of section 29 (3) of the Trustee Savings Bank 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 1968.

3. The general manager has certified that, to the best of his knowledge and belief, all requirements of the Trustee Savings Bank 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 1968, and of the results of its business for the year ended on that date.

J. L. GREGORY, F.P.A.N.Z., Auditor.
Tauranga, 1 May 1968.
2324

TARANAKI SAVINGS BANK

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1968

1967
$

696,536
Interest credited to depositors ..
3,328
Interest credited to staff provident fund ..
157,590
Charges and administration expenses
18,246
Depreciation
113,000
Provision for taxation
114,604
Net profit, transferred to profit and loss appropriation account

$1,103,304

1967
$

1,078,404
Interest on investments
24,900
Commissions, rents, sundry receipts, and refunds

$1,103,304

APPROPRIATION ACCOUNT FOR THE YEAR ENDED 31 MARCH 1968

1967
$

..
Depreciation, Fitzroy Premises, 31 March 1967
20,000
Provision for donations
127,858
Balance transferred to reserve fund

$147,858

1967
$

508
Taxation reserve balance
6,962
Donations reserve balance
25,784
Discount on purchase of Government stock
114,604
Net profit

$147,858

DETAILED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1968

1967
$

457,210.72
Interest credited to ordinary savings bank depositors
215,278.15
Interest credited to investment accounts
24,046.77
Interest credited to national savings accounts
2,327.24
Interest credited to staff provident fund
100,656.22
Salaries and wages
2,920.00
Trustees fees
16,732.57
Printing, advertising, and stationery
5,391.60
Rates and fire insurance premiums
70.00
Share of earthquake premiums of properties mortgaged to the bank
745.68
Trustees travelling and inspection fees..

Charges—
2,884.68
Staff provident fund contributions
2,877.33
Rent branch premises ..
2,110.64
Lighting and heating ..
18,827.22
General office expenses
4,374.08
Expenses maintaining bank premises
18,246.69
Depreciation..
113,000.00
Provision for taxation..
114,604.08
Net profit, transferred to profit and loss appropriation account

$1,103,303.67

1968
$

747,094

179,554
26,476
107,000

106,762

$1,166,887

1968
$

1,138,338
28,549

$1,166,887

1968
$

242
30,000
77,473

$107,715

1968
$

633
320

106,762

$107,715

1968
$

482,878.44
245,810.46
18,404.98

747,093.88

116,742.63
3,004.00
19,307.48
6,476.62
69.41
768.78

5,833.42
2,521.94
2,584.39
19,652.15
2,593.88
26,476.29
107,000.00
106,762.58

$1,166,887.45