Administration expenses—

1,115,374 Salaries and wages . . 1,207,585.94
42,602 Maintenance and repairs . . . 51,760.81
46,722 Rates and insurance . . . 55,212.71
38,963 Postages and telephones . . . 39,447.54
23,392 Heating and lighting . . . 34,483.66
110,230 Stationery . . . . 112,614.77
63,752 Advertising . . . . 63,086.68
67,068 Cleaning . . . . 62,996.84
7,549 Home lay-by subsidies . . . 8,577.40
3,055 Loss on sales—motor vehicles . . . 2,662.28
Loss on sales—passport book wallets . . . . 196.92
5,803 Loss on sales—office calculating and book-keeping machines . . . .
Other (including computer hire and rental, trading bank charges, motor vehicle expenses, etc.) . . . 308,826.19

1,659,080

Depreciation on buildings . . . 73,026.70
50,871 Depreciation on furniture and fittings, etc. . . 85,620.00
86,264 Depreciation on plant . . . 23,877.00
25,984 Depreciation on office calculating and book-keeping machines . . . 78,925.00
129,385 Depreciation on motor vehicles . . . . 8,546.00
7,610

Provision for taxation . . . . 269,994.70
924,700 Net profit . . . . . . . 953,800.00
904,471

$8,791,482

1968
$

Interest on Bank of New Zealand variable fixed deposits . . . 120,000.00
116,943 Interest on short-term deposits . . . . 102,950.93
68,028 Interest on national provident fund investment . . . . 24,721.57
24,099 Interest on Bank of New Zealand account . . . . 63,748.25
82,029 Interest on deposit Wellington District Savings Bank . . . . 120.00
100

Interest on New Zealand Government inscribed stock . . . . . 5,491,067.44
291,199 5,056,657 Interest on local authority securities . . . . 1,017,766.12
951,661 Interest on mortgages . . . . . . 2,476,367.74
2,294,045

8,302,363

8,593,562 Interest on investments . . . . . . . . . . . . 8,985,201.30

Exchange and commission . . . . . . . 116,633.03
110,417 Rents . . . . . . . 78,215.09
78,479 Surplus interest on national savings securities . . . . .
9,024 Initial depreciation written back on sale —Whangarei House . . . . . . . 890.18

197,920 Other income . . . . . . . . . . 195,738.30

$8,791,482

1969
$

210,000 Provision for donations
654,471 Balance to reserve fund

$904,471

904,471 Net profit

$904,471

APPRIORIATION ACCOUNT FOR YEAR ENDED 31 MARCH 1969

1968
$

Depositors’ balances—

Savings bank . . . . . . . . 132,099,711.11
9,130,203 Home lay-by . . . . . . . . 9,394,233.18
6,158,854 Thrift clubs . . . . . . . . 6,178,776.97

140,117,228 Investment accounts . . . . . . 31,602,585.47
26,662,130

166,779,358 Ordinary depositors’ total . . .
2,418,811 National savings depositors’ total . . . 2,176,348.54

Add: national savings interest suspense account . . 36,671.79

$9,492,480.35

41,488

2,460,299

Other liabilities—

Interest accrued on investment accounts . . 799,539.03
Staff provident fund . . . . . 1,276,281.28
Provision for taxation . . . . . 1,733,196.98
Provision for donations . . . . . 210,000.00

3,821,299

173,060,956 Total of liabilities and provisions . . . . . . . . . . . . 185,507,344.35

8,394,000 Reserve fund—Balance as at 31 March . . . . . . . . . 9,061,000.00
1,818 Add: Transfer — provision for taxation . . . . . . . . . . . . . . . 126.20

Add: Transfer—balance of donations account . . . . . . . . . . . . . . 1,685.00

8,395,818
10,711

8,406,529
654,471

Add: balance—appropriation account . . . . . . . . . . . . . . . . . . . 705,309.94

$182,121,956

9,061,000

9,062,811.20

9,070,490.06

9,775,800.00

1969
$

$915,309.94

915,309.94

$915,309.94

BALANCE SHEET AS AT 31 MARCH 1969

1968
$

$9,296,742.05

$195,283,144.35