8 JULY
THE NEW ZEALAND GAZETTE
1377

RESERVE BANK OF NEW ZEALAND

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1971

To general charges including salaries, rent, cost
of note issue, overseas debt charges, and other
expenses .. .. .. .. $4,343,956.28
To balance of profit for year .. .. .. $9,757,338.16

$14,101,294.44

By balance of profit after making provision
for rebate on bills not yet due and for sundry
liabilities and contingencies .. .. $14,101,294.44

$14,101,294.44

PROFIT AND LOSS APPROPRIATION ACCOUNT

To payment to New Zealand Government in
terms of section 40 of Reserve Bank of New
Zealand Act 1964 .. .. .. $9,675,191.91
To balance .. .. .. $9,757,338.16

$19,432,530.07

By balance as at 1 April 1970 .. .. $9,675,191.91
By balance from Profit and Loss Account .. $9,757,338.16

$19,432,530.07

BALANCE SHEET AS AT 31 MARCH 1971

Liabilities

Notes in circulation .. .. .. $193,781,243.00
Demand deposits—
(a) State .. .. $127,038,546.03
(b) Banks .. .. 28,844,153.79
(c) Marketing accounts .. 3,001,648.71
(d) Other .. .. 17,857,097.72

176,741,446.25

Liabilities in currencies other
than New Zealand currency—
(a) Demand .. .. $289,225.52
(b) Time .. .. 5,420,011.83

5,709,237.35
Other liabilities .. .. .. 1,017,028.91
Allocation of special drawing rights by I.M.F. 42,848,214.29
Capital accounts—
(a) General Reserve Fund $3,000,000.00
(b) Other reserves .. 19,826,907.23

22,826,907.23
Profit and Loss Appropriation Account .. 9,757,338.16
Contingent liabilities—

1. In respect of an investment of 250,000 £1
   stg shares in the Commonwealth Development Finance Co. Ltd. of which 50p per
   share is uncalled (NZ$267,087.50).
2. In respect of an investment of 586,500 $1
   shares in the Development Finance Corporation of which 50c per share is uncalled—
   25c per share is payable on 1 April 1971.
3. In respect of a guarantee of a foreign currency loan, the outstanding balance of
   which amounts to the equivalent of NZ$4,674,857.71. The New Zealand
   Government has indemnified the Bank in respect of this guarantee.

4. The estimated outstanding amount of contracts for capital expenditure is
   $2,165,908.00.

   $452,681,415.19

Assets

Gold .. .. .. $704,806.72
Overseas assets—
(a) Current accounts and short-term bills .. 49,054,718.64
(b) Investments .. 35,503,908.00
(c) Holdings of special drawing rights .. 19,627,805.36

104,186,432.00
New Zealand coin .. .. 3,191,374.90
Discounts .. .. 3,600,000.00
Advances—
(a) To the State .. 765,107.45
(b) To marketing accounts 167,564,271.71
(c) Export credits .. 5,665,249.98
(d) Other .. .. 88,332,000.00

262,326,629.14
Investments in New Zealand—
(a) New Zealand Government securities .. 52,875,981.56
(b) Other .. .. 293,250.00

53,169,231.56
Other Assets .. .. .. 25,502,940.87

N.B.—Holdings of sterling have been converted into New Zealand currency at the rate of:
£100 stg equals NZ$213.67.

$452,681,415.19

A. R. LOW, Governor.
R. W. R. WHITE, Deputy Governor.
M. R. HUTTON, Chief Accountant.

AUDITOR’S CERTIFICATE AND REPORT

We have audited the balance sheet as at 31 March 1971 above set forth, and we have obtained all the information and explanations we have required. In our opinion the balance sheet is properly drawn up so as to exhibit a true and fair view of the state of affairs of the Bank as at 31 March 1971, according to the best of our information and the explanations given to us and as shown by the books of the Bank.

D. A. F. CROMBIE } Chartered Accountants.
F. H. HARRIS

Wellington, 23 June 1971.

Ministry of Works—Schedule of Civil Engineering, Building, and Housing Contracts of $20,000 or More in Value

Name of Works Successful Tenderer Amount of Tender Accepted $

Building—
RNZAF Base, Ohakea: workshop area heating .. .. .. A. and T. Burt Ltd. .. .. 112,293.00
Morrinsville College: library block .. .. .. G. E. Foster Ltd. .. .. 47,403.00
Te Puke High School: ‘Nelson’ block 6, stage I .. .. .. R. S. Hynd Ltd. .. .. 87,151.00
Ngawhatu Hospital: construction of boiler house No. 2 .. B. R. Malcolm Ltd. .. .. 28,053.18
Tobacco Research Station, Riwaka: office and laboratory block .. Motueka Builders Ltd. .. .. 35,796.85

J. H. MACKY, Commissioner of Works.

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