24 SEPTEMBER
THE NEW ZEALAND GAZETTE
1751

AUCKLAND SAVINGS BANK—continued
BALANCE SHEET AS AT 31 MARCH 1970—continued

47,532 Motor vehicles .. .. 47,446.84
2,761 Passbook wallets .. 1,281.00
3,425 Coin sets .. .. 8,895.50
——— ————————————————
6,922,460 7,687,501.88
$195,283,144 $207,899,829.91
——— ————————————————

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1970

1969 $ 1970 $
704,918 Interest on depositors’ closed
accounts (net) .. 830,487.93
3,836,904 Interest on depositors’ open
accounts .. 3,941,221.57
799,539 Accrued interest on depositors’
investment accounts .. 1,018,422.25
——— ————————————————
5,341,361 5,790,131.75
60,743 Interest on provident fund .. .. 62,294.54
3,819 Trustees’ honoraria .. .. 3,473.00

Administration expenses—
1,207,586 Salaries and wages .. 1,356,114.87
51,761 Maintenance and repairs .. 41,332.26
55,213 Rates and insurance .. 75,425.57
39,447 Postages and telephones .. 46,191.94
34,484 Heating and lighting .. 56,992.53
112,615 Stationery .. .. 136,481.31
63,087 Advertising .. .. 81,401.47
62,997 Cleaning .. .. 82,141.34
8,577 Home lay-by subsidies .. 11,567.59
2,662 Loss on sales—motor vehicles .. 1,160.79
197 Loss on sales—passbook wallets .. 3,164.85
Other (including computer hire
and rental, trading bank
charges, motor vehicle ex-
penses, etc.) .. .. 255,532.19
——— ————————————————
308,826 2,147,506.71
1,947,452 Depreciation on buildings .. 47,838.00
73,027 Depreciation on furniture and
fittings etc. .. .. 136,472.00
85,620 Depreciation on plant .. .. 222,292.00
23,877 Depreciation on office calculating
and bookkeeping machines .. 135,893.00
78,925 Depreciation on motor vehicles .. 9,182.00
8,546 ——— ————————————————
269,995 551,677.00
953,800 Provision for taxation .. .. .. 874,538.57
915,310 Net profit .. .. .. 878,994.42
——— ————————————————
$9,492,480 $10,308,615.99
——— ————————————————

1969 $ 1970 $
120,000 Interest on Bank of New Zealand
variable fixed deposits .. 136,682.29
102,951 Interest on short-term deposits .. 76,693.16
24,722 Interest on national provident
fund investment .. 25,312.50
63,748 Interest on Bank of New Zealand
account .. .. 98,962.62
120 Interest on deposit, Wellington
District Savings Bank .. 120.00
——— ————————————————
311,541 337,770.57

5,491,067 Interest on New Zealand Govern-
ment inscribed stock .. 5,925,901.03
1,017,766 Interest on local authority
securities .. .. 1,093,961.45
2,476,368 Interest on mortgages .. 2,680,459.67
——— ————————————————
8,985,201 9,700,322.15

9,296,742 Interest on investments .. .. .. 10,038,092.72

116,633 Commissions .. .. 124,770.11
78,215 Rents .. .. 145,753.16
890 Initial depreciation written back
on sale—Whangarei house .. .. ..
——— ————————————————
195,738 Other income .. .. .. 270,523.27
——— ————————————————
$9,492,480 $10,308,615.99
——— ————————————————

APPROPRIATION ACCOUNT FOR YEAR ENDED 31 MARCH 1970

1969 $ 1970 $
210,000 Provision for donations .. .. .. 250,000.00
705,310 Balance to reserve fund .. .. .. 628,994.42
——— ————————————————
$915,310 $878,994.42
——— ————————————————

1969 $ 1970 $
915,310 Net profit .. .. .. 878,994.42
——— ————————————————
$915,310 $878,994.42
——— ————————————————

S. W. SMITH, President.
M. N. CORNER, General Manager.

———

AUDITORS’ REPORT

We, the undersigned, being the auditors of the Auckland Savings Bank,
appointed in terms of section 29 (3) of the Trustee Savings Banks Act 1948,
report—

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

2. We have verified the cash, investments, securities, and assets of the bank as
   at 31 March 1970.

3. The general manager has certified that, to the best of his knowledge and
   belief, all requirements of the Trustee Savings Bank Act 1948 and regulations
   thereunder have been complied with.

4. In our opinion, the above balance sheet and attached profit and loss account
   are properly drawn up so as to give respectively a true and fair view of the state
   of the Auckland Savings Bank’s affairs as at 31 March 1970, and of the results
   of its business for the year ended on that date.

D. C. O’HALLORAN, B.COM., F.C.A.
A. J. POSTLES, A.C.A.
} Auditors.

11 May 1970.

8777

———

HAWKE’S BAY AND GISBORNE SAVINGS BANK

BALANCE SHEET AS AT 31 MARCH 1970

1969 Assets 1970
$ $ $

Current assets—
627,766 Cash on hand and at
bank .. .. 402,745
320,000 Fixed deposits .. 670,000
Interest accrued on in-
vestments .. 143,989
137,953 Owing by other trustee
banks .. .. 8,825
1,807 Accounts receivable .. 13,900
375 Prepayments .. 1,531
1,339 ——— ————————————————
1,089,240 1,240,990

Investments (at cost)—
New Zealand Govern-
ment inscribed stock 9,173,370
Local authority
securities .. 582,666
420,942 Mortgages .. .. 3,662,557
2,471,040 ——— ————————————————
11,809,121 13,418,593
——— ————————————————

Total current assets and
investments .. 14,659,583

12,898,361 Fixed assets (at cost, less
depreciation)—
160,177 Land and buildings .. 182,856
Leasehold improve-
ments .. .. 2,791
2,327 Furniture and fittings .. 22,150
13,400 Office machinery .. 6,481
7,315 Motor vehicles .. 7,301
4,800 Advertising equipment .. ..
70 Souvenir coin sets .. 3,088
2,166 ——— ————————————————
190,255 224,667
——— ————————————————

13,088,616 Total assets .. .. 14,884,250

Less: liabilities—
7,694,981 Savings bank accounts 8,957,103
624,705 Thrift accounts .. 712,274
4,266,976 Investment accounts .. 4,624,232
——— ————————————————
12,586,662 14,293,609

104,355 Add: accrued interest on
investment accounts .. 112,130
——— ————————————————

Total liability to deposi-
tors .. .. 14,405,739

Current liabilities—
6,000 Provision for donations 7,000
10,079 Commissioner of In-
land Revenue .. 34,444
7,846 Accounts payable .. 8,310
Owing to other trustee
banks .. .. 20,978
——— ————————————————
11,184 70,732

35,109 Term liabilities—
145,200 Mortgages .. .. 135,600
23,484 Staff superannuation
fund .. .. 31,513
——— ————————————————
168,684 167,113
——— ————————————————

12,894,810 Total liabilities .. .. 14,643,584
——— ————————————————

$193,806 Excess of assets over liabilities .. $240,666
——— ————————————————