9 SEPTEMBER
THE NEW ZEALAND GAZETTE
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1971
1970 Interest to depositors—
145,406 On open accounts
95,301 Closed accounts and matured investment accounts
240,707 Accrued on investment account
104,852
345,559
$543,557
$17,035
1970 Interest on investments—
371,065 New Zealand Government stock
21,442 Local authorities stock
111,191 Mortgages
26,482 Sundry
530,180 Other income—
13,377 Commissions, rent, etc.
$543,557
$17,035
1970 Net profit—brought down
17,035 Profit (net) on disposal of assets
$17,035
APPROPRIATION ACCOUNT FOR THE YEAR ENDED 31 MARCH 1971
1970
$4,000 Provision for donations
6,317 Balance—to reserve fund
$10,317
1970
$10,187 Balance—from profit and loss account
130 Provision for donations—overprovided 1970
$10,317
M. T. DEARSLY, President.
J. W. MERRICK, General Manager.
The above balance sheet and attached profit and loss account are in agreement
with the books, which, in my opinion, have been properly kept. I obtained the
information and explanations I required.
In my opinion the above balance sheet and profit and loss account comply
with the Trustee Savings Bank Act 1948 in the manner authorised for Trustee
Savings Banks. On such basis, they give, in my opinion, a true and fair view of
the state of affairs and of the profit of the Bank.
D. T. SPRING,
Chartered Accountant, Auditor.
Palmerston North, 13 May 1971.
1363
WAIKATO SAVINGS BANK
PROFIT AND LOSS ACCOUNT
1970
$522,832 On open accounts
224,103 Closed accounts and matured investment accounts
256,766 Accrued on investment accounts
910 Home lay-by accounts; suspensory free deposits
1,004,611 Subtotal
513,929 Administrative expenses
2,869 Trustees' honoraria
31,503 Depreciation
74,513 Provision for taxation
63,375 Net profit—carried down
$1,690,800
1970
$1,024,868 From New Zealand Government stock
107,561 From local authorities stock
436,315 From mortgages
59,235 From other sources
1,627,979 Subtotal
62,821 Income from other sources
$1,690,800
1971
$156,428
100,051
256,479
106,823
363,302
$593,819
$5,386
532
2,281
148
10,187
$17,035
$340,091
39,628
171,032
28,674
579,425
14,394
$593,819
$5,386
5,329
57
$17,035
1,573
$1,793
$1,793
$1,793
$1,793
1971
$557,245
242,953
272,741
614
1,073,553
633,778
2,848
34,307
41,475
57,705
$1,843,666
1,013,578
119,852
582,498
75,663
1,791,591
52,075
$1,843,666
APPROPRIATION ACCOUNT
1971
$63,375
$57,705
$63,375
$57,705
$57,705
$57,705
$57,705
$57,705
$57,705
$57,705
$57,705
$57,705
$57,705
BALANCE SHEET
1970
$21,225,875 Depositors' accounts—
22,356,386 Ordinary accounts
49,375 Special accounts (detail)
10,388,421 Investment accounts
31,614,296 Total liability to depositors
33,336,882 National Savings Accounts—
Add interest suspense account
256,766 Interest accrued on investment accounts
10,751 Mortgages
18,635 Sundry creditors
Other (detail)
1,152 Total other liabilities
14,000 Provision for donations
74,513 Provision for taxation
74,760 (Special appropriations of reserves) tax
317,828 Reserve fund
$32,381,549
1971
$21,225,875 Depositors' accounts—
22,356,386 Ordinary accounts
49,375 Special accounts (detail)
10,388,421 Investment accounts
31,614,296 Total liability to depositors
33,336,882 National Savings Accounts—
Add interest suspense account
256,766 Interest accrued on investment accounts
10,751 Mortgages
18,635 Sundry creditors
Other (detail)
1,152 Total other liabilities
14,000 Provision for donations
74,513 Provision for taxation
74,760 (Special appropriations of reserves) tax
317,828 Reserve fund
$32,381,549
1970
$24,323 Cash on hand and at bank
1,110,000 Fixed deposits
296,856 Interest accrued on investments
36,055 Owing by other trustee savings banks
21,422 Sundry debtors
1,440,010 Total current assets
19,582,000 New Zealand Government stock
2,707,794 Local authority securities
8,283,296 Mortgages
30,573,090 Total ordinary investments
National Savings Securities—
New Zealand Government stock
Cash on hand and at bank
Total National Savings Securities
1971
$307,643 Cash on hand and at bank
1,298,300 Fixed deposits
302,621 Interest accrued on investments
12,984 Owing by other trustee savings banks
42,128 Sundry debtors
1,963,676 Total current assets
19,414,000 New Zealand Government stock
2,172,110 Local authority securities
10,265,448 Mortgages
31,851,558 Total ordinary investments
National Savings Securities—
New Zealand Government stock
Cash on hand and at bank
Total National Savings Securities
Cost Price Dep'n Book
Price to Date Value
$ $ $
Fixed assets—
Land and buildings 229,851 243,541 8,392 235,149
Vehicles, equipment, furniture,
etc. 138,598 348,647 188,347 160,300
368,449 Total fixed assets
$32,381,549
$34,210,683
N. I. McKEAN, President.
S. R. McROBIE, General Manager.
1970
$1,050,000 Capital commitments—
108,400 Mortgage loans approved but not advanced
Local body loans approved but not advanced
1971
$710,407
60,000
Notes to Annual Accounts—

1. Government stock discounts on purchase, totalling $116,400, have been
   removed from the investments section, thus reducing Government stock invest-
   ments to their cost price of $19,414,000. The Reserve Fund has likewise been
   reduced by $116,400. To facilitate comparisons, the previous year’s figures have
   been similarly adjusted.
2. Payroll tax has been treated as an administration expense.
   AUDITORS REPORT
   The above balance sheet and attached profit and loss account are in agreement
   with the books which, in our opinion, have been properly kept. We have obtained
   all the information and explanations we required. In our opinion, according to the
   best of our information and the explanations given to us, the above Balance
   Sheet and Profit and Loss Account present fairly the financial position of the Wai-
   kato Savings Bank as at 31 March 1971 in conformity with generally accepted
   accounting principles applied on a basis consistent with that of the preceding year.
   FISHER, DAY, MATTHEWS, AND HILTON,
   Chartered Accountants and Auditors, Hamilton.
   7 May 1971.
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