28 NOVEMBER THE NEW ZEALAND GAZETTE 2227

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

1967 $ 1968 $
$ $
26,842.77 Interest accrued and received from— 19,703.53
636,985.65 Fixed deposits 708,311.20
27,046.77 Government stock—national savings 19,304.98
6,002.49 Local body debentures 5,981.44
381,525.87 Mortgages 385,037.03
13,246.72 Rents 15,460.71
11,653.40 Commissions, fees, and sundry receipts 13,088.56
——————— ———————
$1,103,303.67 $1,166,887.45
——————— ———————

BALANCE SHEET AS AT 31 MARCH 1968

1967 $ 1968 $
$ $
15,472,778 Depositors’ balances—
Savings bank department 15,578,947
382,900 Thrift club 419,367
459,952 Home lay-by 345,612
13,950 Special accounts 25,471
——————— ———————
16,329,580 Ordinary depositors’ total 16,369,397
5,842,950 Investment accounts 6,516,546
141,338 Add interest accrued 165,470
——————— ———————
5,984,288 6,682,016
517,908 National savings accounts 445,707
9,756 Add national savings interest suspense account 8,071
——————— ———————
527,664 453,778
——————— ———————
22,841,532 Total liability to depositors 23,505,191

Other liabilities—
30,716 Sundry creditors 1,553
73,008 Staff provident fund ..
113,000 Provision for taxation 107,000
20,000 Provision for donations 30,000
——————— ———————
236,724 Total other liabilities .. 138,553
1,206,250 Reserve fund .. 1,283,724
——————— ———————
$24,284,506 $24,927,468
——————— ———————

Contingent liability—
Subsidy on home lay-by accounts ..

1967 $ 1968 $
$ $
568,170 Current assets—
Cash in hand and at bankers 172,009
645,000 Fixed deposits 745,000
218,542 Interest due and accrued on investments 225,348
——————— ———————
1,431,712 Total current assets .. 1,142,357

Investments (at par value)—
7,934,950 New Zealand Government inscribed stock 8,156,130
156,876 Local authority securities 155,858
7,714,382 Mortgages 7,792,706
——————— ———————
15,806,208 Total investments .. 16,104,694

Investment account securities—
5,685,080 New Zealand Government inscribed stock 6,347,900
299,208 Cash on hand and at bankers 334,116
——————— ———————
5,984,288 6,682,016

National savings securities—
490,000 New Zealand Government inscribed stock 435,000
37,664 Cash on hand and at bankers 18,778
——————— ———————
527,664 453,778
——————— ———————
23,749,872 Total current assets, investments, and securities .. 24,382,845

Fixed assets (at cost, less depreciation)—
462,640 Land and buildings 470,949
71,994 Furniture, fittings, and plant 73,674
——————— ———————
534,634 544,623
——————— ———————
$24,284,506 $24,927,468
——————— ———————

H. E. BLENNERHASSETT, President.
E. A. EVANS, General Manager.

AUDITORS’ REPORT

We have examined the balance sheet of Taranaki Savings Bank, as of 31 March 1968, and the related profit and loss account for the year then ended. Our examination was made in accordance with generally accepted auditing standards, 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 and profit and loss account present fairly the financial position of Taranaki Savings Bank at 31 March 1968, 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.

WYNYARD, RIDLAND, AND GLASGOW,
Public Accountants, Auditors.

New Plymouth, 5 April 1968.

2253

WAIKATO SAVINGS BANK

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1968

1967 $ 1968 $
$ $
555,986 Interest to depositors 630,434
.181,700 Interest accrued to investment accounts 212,968
——————— ———————
737,686 843,402
3,206 Trustees’ honoraria 2,879

Management expenses—
198,036 Salaries 228,651
5,130 Maintenance 5,460
35,270 Rent and rates 35,897
808 Mortgage valuation fees 499
——————— ———————
270,507 32,743
32,428 Depreciation 535
726 Loss on disposal 15,975
23,182 Advertising 25,642
19,966 Stationery
4,820 Loss on sale of Government stock ..
63,680 Other expenses 67,076
Provision for taxation 31,526
Less over-provision, 1967 2,755
——————— ———————
25,016 28,771
24,340 Net profit to profit and loss appropriation account .. 37,442
——————— ———————
$1,174,294 $1,324,972
——————— ———————

1967 $ 1968 $
$ $
757,477 Interest on—
Government stock 866,694
279,054 Mortgages 308,366
71,533 Local body stock and debentures 76,363
24,112 Fixed deposits 28,900
14,675 National provident fund 14,715
2,398 Short-term investments 6,341
.. Trustee savings bank 90
——————— ———————
1,149,249 Total interest 1,301,469
18,138 Commissions, fees 18,791
4,804 Rent received 4,646
123 Depreciation recovered 66
1,980 Profit on sale of lease ..
——————— ———————
$1,174,294 $1,324,972
——————— ———————

PROFIT AND LOSS APPROPRIATION ACCOUNT FOR YEAR ENDED 31 MARCH 1968

$ $
10,000 Provision for donations 8,000
14,340 Balance to reserve fund 29,442
——————— ———————
$24,340 $37,442
——————— ———————

24,340 Net profit from profit and loss account .. 37,442
——————— ———————
$24,340 $37,442
——————— ———————

BALANCE SHEET AS AT 31 MARCH 1968

1967 $ 1968 $
$ $
14,878,688 Depositors’ balances—
Savings accounts 16,080,461
1,929,458 Thrift accounts.. 2,005,117
7,693,360 Investment accounts 8,755,840
——————— ———————
24,501,506 26,841,418
181,700 Accrued interest on investment 212,968
——————— ———————