1704
THE NEW ZEALAND GAZETTE
No. 53

APPROPRIATION ACCOUNT FOR YEAR ENDED 31 MARCH 1969

1968
$
To—
.. Donations under-provided for 1968
2,400 Provision for donations
10,508 Reserve fund ..

$12,908

1968
$
12,908 Net profit

$12,908

1969
$
250
4,750
24,210

$29,210

1969
$
29,210

$29,210

P. E. L. RENTON, President.
J. J. LESLIE, General Manager.

AUDITORS’ REPORT

I, the undersigned, being the auditor of the Westland Savings Bank, appointed in terms of section 29 (3) of the Trustee Savings Banks Act 1948, report:

1. I have examined the books, accounts, and vouchers of the bank, and have received all the explanations and information I have required.

2. I have verified the cash, investments, securities, and assets of the bank as at 31 March 1969.

3. The manager has certified that, to the best of his knowledge and belief in the matter, all requirements of the Trustee Savings Banks Act 1948 and regulations thereunder have been complied with. In my opinion the accompanying balance sheet and statement of income and surplus present fairly the financial position of the Westland Savings Bank as at 31 March 1969, and the result of its operations for the year ended, in conformity with generally accepted accounting principles applied on the basis consistent with that of the preceding year.

W. J. GUTBERLET, F.P.A.N.Z., F.I.A.N.Z., Auditor.
5474

CANTERBURY SAVINGS BANK

BALANCE SHEET AS AT 31 MARCH 1969

1968
$
17,554,640
1,832,094

19,386,734
10,224,530
246,746

29,858,010
63,076
10,000
8,025
136,000
31,965
45,737

294,803
146,786
22,334

169,120
146,532

315,652

$30,468,465

$
Depositors’
balance—
Savings bank 21,939,092
Thrift clubs 1,862,772

Ordinary depositors’ total 23,801,864
Investment
accounts 11,541,152
Add interest
accrued 277,732

11,818,884

35,620,748
Staff provident fund .. 96,057
Provision for donations .. 12,000
Owing to other trustee banks 14,759
Mortgages .. .. 121,600
Sundry creditors .. .. 56,350
Remittances in transit .. 92,280
Taxation reserve account .. 100,815

493,861
Reserve fund—
Balance as at 31 March 1968 169,120
Add balance of appropriation
account .. .. 50,427

219,547
Add premiums due on re-
demption of Government
stock .. .. .. 146,532

366,079

$36,480,688

1969
$
459,410

$30,468,465

1968
$
1,130,886
700,000
312,040
196
664
5,128
2,246

2,192,455
300,000
19,724,040
1,117,430
6,675,130

27,816,600

30,009,055
328,131
13,234

314,897
3,140

311,757
237,845
58,609

179,236
31,583

147,653

1969
$
1,187,320
800,000
370,429
36
363
7,042
..
19,960
193
10,611

2,395,954
500,000
22,852,000
1,542,729
8,725,825

33,620,554

.. 36,016,508
$ 328,739
16,374

312,365
2,843

309,522
276,016
88,322

187,694
33,036

154,658

464,180

$36,480,688

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1969

1968
$
458,387
200,697
246,746
188
2,890
286,888
10,004
19,743
161
34,837
31,440
2,460
88,630
34,723
29,674
500

29,174

1969
$
566,526
245,985
277,732
561
3,383
340,730
16,764
23,173
1,047
42,242
40,381
4,843
93,165
11,374
35,879
71,391
250

71,141

Current assets—
Cash on hand and at
bankers .. .. 1,187,320
Fixed deposits at bankers 800,000
Interest accrued on in-
vestments .. .. 370,429
Rents due and accrued .. 36
Commissions accrued .. 363
Prepayments .. .. 7,042
Taxation prepayment ..
Owing by other trustee
banks .. .. 19,960
Sundry debtors .. .. 193
Remittances in transit .. 10,611

Total current assets 2,395,954

Investments (at face value)—
Short-term investments 500,000
New Zealand Govern-
ment stock .. 22,852,000
Local authority loans
stock .. .. 1,542,729
Mortgages .. .. 8,725,825

Total of investments 33,620,554

Total of current
assets and invest-
ments .. .. .. 36,016,508

Fixed assets (at cost, less
depreciation)—
Land and build-
ings .. $ 328,739
Less previous
depreciation 16,374

312,365
Less current
depreciation 2,843

309,522

Office equip-
ment, fur-
niture .. 276,016
Less previous
depreciation 88,322

187,694
Less current de-
preciation .. 33,036

154,658

464,180

$36,480,688

Interest to depositors—
Credited to depositors’ accounts at
31 March 1969 .. .. 566,526
Closed accounts and matured invest-
ment accounts .. .. 245,985
Accrued on investment accounts .. 277,732
Home layby accounts suspensory free
deposits .. .. .. 561

Other charges—
Trustees’ fees (honoraria) .. 3,383
Salaries and wages .. .. 340,730
Maintenance and repairs .. 16,764
Rent and rates paid .. .. 23,173
Loss on sale or disposal of assets .. 1,047
Advertising .. .. .. 42,242
Printing and stationery .. .. 40,381
Interest to staff provident fund .. 4,843
Administration expenses and other
charges .. .. .. 93,165
Site clearance (demolition of building) 11,374
Depreciation .. .. .. 35,879
Provision for taxation .. 71,391
Less overprovision for taxa-
tion 1968 .. .. 250

71,141