1698

THE NEW ZEALAND GAZETTE

No. 53

NOTE TO ANNUAL ACCOUNTS, 31 MARCH 1969
Deferred taxation account, $31,594.56.
Up until 31 March 1968, the bank had paid tax on accrued
income as well as cash income received. The Inland Revenue
Department now allows us to reduce our taxable income by the
amount of accrued income included therein.
The bank still provides for the tax liability on the accrued in-
come, but it is not paid until the following year. It is therefore
shown separately as “Deferred taxation account”.
Since accrued income tends to increase each year, so this de-
ferred taxation account will increase each year also. It is therefore
a permanent account which will always be present as a current
liability, but for which payment is always deferred.
J. A. GRACE, President.
S. R. MCROBIE, Manager.

AUDITORS’ REPORT
We, the undersigned, being the auditors of the Waikato Savings
Bank, appointed in terms of section 29 (3) of the Trustee Savings
Banks Act 1948, report that:
(a) We have examined the books, accounts, and vouchers of the
bank, and have received all the information and explanations required.
(b) We have verified the cash, investments, securities, and assets
of the bank as at 31 March 1969.
(c) 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 give respectively a true and
fair view of the state of the Waikato Savings Bank’s affairs as at 31
March 1969, and of the results of its business for the year ended on
that date, and in conformity with generally accepted accounting
principles applied on the basis consistent with that of the preceding year.
FISHER, DAY, MATTHEWS, AND HILTON,
Public Accountants, Auditors.
Hamilton, 13 May 1969.
5721

TARANAKI SAVINGS BANK

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1969
1968 $
747,094 Interest credited to depositors
179,554 Charges and administration expenses
26,476 Depreciation
107,000 Provision for taxation
106,762 Net profit transferred to profit and loss appropriation account
$1,166,887

1969 $
800,654
196,502
25,540
112,200
114,919
$1,249,815

1968 $
1,153,798 Interest on investments
13,089 Commissions, sundry receipts, and refunds
$1,166,887

1969 $
1,239,526
10,289
$1,249,815

APPROPRIATION ACCOUNT FOR THE YEAR ENDED 31 MARCH 1969
1968 $
30,000 Provision for donations
242 Depreciation, Fitzroy premises
77,473 Balance transferred to reserve fund
$107,715

1969 $
30,000
90,161
$120,161

1968 $
320 Donation reserve balance
633 Taxation reserve balance
106,762 Net profit
$107,715

1969 $
5,242
114,919
$120,161

DETAILED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1969
1968 $
482,878.44 Interest credited to ordinary savings bank depositors
245,810.46 Interest credited to investment accounts
18,404.98 Interest credited to national savings accounts
116,742.63 Salaries and wages
3,004.00 Trustees’ fees
19,307.48 Printing, advertising, and stationery
6,476.62 Rates and fire insurance premiums
69.41 Share of earthquake premiums of properties mortgaged to the bank
768.78 Trustees’ travelling and inspection fees
5,833.42 Staff provident fund contributions
2,521.94 Rent branch premises
2,584.39 Lighting and heating
19,652.15 General office expenses
2,593.88 Expenses maintaining bank premises
26,476.29 Depreciation
107,000.00 Provision for taxation
106,762.58 Net profit, transferred to profit and loss appropriation account
$1,166,887.45

1969 $
491,018.46
293,609.58
16,025.47
800,653.51
124,982.18
3,235.00
20,628.57
6,054.73
140.28
660.48
7,852.74
2,637.92
2,994.13
24,255.51
3,060.87
25,540.28
112,200.00
114,918.90
$1,249,815.10

1968 $
19,703.53 Interest accrued and received from-
Fixed deposits
708,311.20 Government stock
19,304.98 Government stock-national savings
5,981.44 Local body debentures
385,037.03 Mortgages
15,460.71 Rents
Short-term investments
13,088.56 Commissions, fees, and sundry receipts
$1,166,887.45

1969 $
40,480.31
756,986.15
16,725.47
5,774.58
399,421.34
16,199.32
3,939.15
10,288.78
$1,249,815.10

BALANCE SHEET AS AT 31 MARCH 1969
1968 $
15,578,947 Depositors' balances-
Savings bank department
419,367 Thrift club
345,612 Home lay-by
25,471 Special accounts
16,369,397 Ordinary depositors' total
6,516,546 Investment accounts
165,470 Add interest accrued

1969 $
16,336,853
528,255
316,729
35,529
17,217,366
6,951,914
178,938
7,130,852