BAY OF PLENTY SAVINGS BANK
BALANCE SHEET AS AT 31 MARCH 1970
1969 $
9,222,029 Savings bank accounts .. 11,305,601
423,714 Thrift club accounts .. 443,661
9,645,743
4,496,110 Investment accounts .. 5,022,063
14,141,853
Other liabilities and provisions—
$5,029 Owing to trustee savings banks .. .. 1,978
5,626 Sundry creditors .. 7,724
107,298 Interest accrued on investment accounts .. 121,086
1,962 Remittances in transit .. ..
35,154 Provision for taxation .. 82,439
4,000 Provision for donations 6,000
159,069
Reserve fund—
$37,284 Balance at 1 April 1969 67,691
30,407 Add Balance of appropriation account transferred .. 55,736
67,691
$14,368,613
$
712,793 Cash on hand and bank $989,882
140,000 Fixed deposits at bankers 140,000
170,000 Short-term investments 270,000
25,263 Owing by trustee savings banks .. .. 16,635
.. 900 Remittances in transit .. 2,094
150,996 Sundry debtors .. 120
Interest and commission accrued on investments Payments in advance .. 2,498
$2,614 Taxation prepayment .. ..
13,663
1,216,229
Investments (at cost unless otherwise stated)—
$9,109,476 New Zealand Government stock (Note 1) .. 9,840,012
1,115,267 Local Authority securities 1,106,609
2,874,951 Mortgages .. .. 4,491,062
13,099,694
Fixed assets (at cost less depreciation)—
$960 Land .. .. 1,875
7,621 Buildings .. .. 21,181
15,942 Furniture, fittings, and equipment .. .. 24,845
12,333 Office machinery .. 11,829
9,559 Alterations leased premises .. 14,080
6,275 Motor vehicles .. 6,476
52,690
$14,368,613
1970
$
11,749,262
5,022,063
16,771,325
219,227
123,427
$17,113,979
$
1,596,010
15,437,683
$17,113,979
BAY OF PLENTY SAVINGS BANK
PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1970
1969 $
$309,068 Interest credited to depositors .. 377,616
107,298 Interest accrued to depositors .. 121,086
416,366
Charges and Administration Expenses—
$13,369 Advertising .. .. 14,498
2,486 Allowances .. .. 3,727
2,000 Audit fees .. .. 2,000
5,575 Bank charges .. .. 5,717
1970 $
498,702
PROFIT AND LOSS ACCOUNT—continued
1969 $
$3,062 Cleaning and laundry .. 3,228
2,363 Heating and lighting .. 2,568
1,459 Insurance .. .. 1,470
40 Legal expenses .. 309
715 Loss on realisation of assets .. 34
719 Maintenance contracts .. 1,007
2,756 Postages .. .. 3,798
12,689 Printing and stationery .. 16,874
19,564 Rents payable .. 27,168
2,760 Repairs and maintenance .. 2,055
100,217 Salaries .. .. 125,571
3,496 Sundry charges .. 3,299
4,691 Superannuation .. 5,981
3,654 Telephones and tolls .. 4,000
5,866 Travelling and relieving Trustees' fees .. 3,265
2,606
190,087
10,374 Depreciation .. .. 11,274
72,467 Profit before taxation .. 105,816
$689,294
35,154 Provision for taxation .. 51,828
37,313 Net profit after taxation .. 53,988
$72,467
230,369
$846,161
$105,816
1970 $
$438,700 New Zealand Government stock .. 505,628
54,190 Local Authority securities .. 62,256
138,316 Mortgages .. .. 226,517
5,952 Fixed deposits .. .. 5,950
4,689 Post Office Savings Bank .. 5,400
26,386 Sundry investments at call .. 25,710
668,233
831,461
21,061 Other income—
Commissions, rents, etc. .. 14,700
$689,294
$846,161
72,467 Profit before taxation .. $105,816
$72,467
$105,816
PROFIT AND LOSS APPROPRIATION ACCOUNT FOR YEAR ENDED 31 MARCH 1970
1969 $
$4,000 Provision for donations .. 6,000
810 Donations under-provided 1968 ..
2,906 Taxation under-provided 1968 ..
30,407 Balance to reserve fund .. 55,736
$38,123
$61,736
$
37,313 Profit and loss account .. 53,988
Taxation over-provided 1968 and 1969 .. 4,543
810 Donations over-provided 1967 ..
Discounts and premiums on investments amortised .. 3,205
$38,123
$61,736
D. D. DAVIS, President.
P. D. MUNN, General Manager.
AUDITORS' 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 1970.