1428
THE NEW ZEALAND GAZETTE
No. 55

(2) We have verified the cash, investments, securities, and assets
of the bank as at 31 March 1972.

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

(4) In our opinion, the above balance sheet and 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 1972 and of the results of its business for the year ended
on that date.

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

1705

BAY OF PLENTY SAVINGS BANK
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1972
Interest to depositors—
$
$
On open accounts ..
..
..
336,496
Closed accounts and matured investment
accounts
..
..
103,407
Accrued on investment accounts
..
176,719
Home layby accounts: suspensory free
deposits ..
..
..
221
Sub-total ..
..
..
..
616,843
Administrative expenses
..
..
..
413,717
Trustees’ honoraria
..
..
..
3,660
Depreciation
..
..
..
18,994
Provision for taxation
..
..
..
42,146
Payroll tax
..
..
..
4,841
Net profit—carried down
..
..
..
48,338
$1,148,539

Interest on investments—
$
$
From New Zealand Government stock
568,689
From local authorities stock
..
63,497
From mortgages
..
..
413,918
From other sources
..
..
70,981
Sub-total
..
..
..
1,117,085
Income from other sources
..
..
..
31,454
$1,148,539

APPROPRIATION ACCOUNT
$
Provision for donations
..
..
..
7,000
Transfer to reserve
..
..
..
41,338
$48,338
$
Net profit—brought down
..
..
..
48,338
$48,338

BALANCE SHEET AS AT 31 MARCH 1972
Depositors’ accounts—
$
$
Ordinary accounts
..
..
15,530,009
Special accounts ..
..
..
15,530,009
Investment accounts
..
..
5,422,383
Total liability to depositors
..
..
20,952,392
Other liabilities—
Interest accrued on investment
accounts
..
..
176,719
Mortgages
..
..
52,600
Owing to other trustee banks
..
2,433
Remittances in transit
..
..
9,623
Sundry creditors
..
..
13,185
Total other liabilities
..
..
..
254,560
Provision for donations
..
..
..
7,000
Provision for taxation
..
..
..
67,334
Reserve fund
..
..
..
214,406
$21,495,692

Current assets—
$
$
Cash on hand and at bank
..
317,701
Fixed deposits
..
..
950,000
Short-term investments
..
548,483
Interest accrued on investments
..
215,019
Owing by other trustee banks
..
31,159
Prepayments
..
..
2,216
Sundry debtors
..
..
4,380
Leasehold property suspense
..
44,845
Total current assets
..
..
..
2,113,803
Investments—
New Zealand Government stock
(Note 1)
..
..
11,135,459
Local authority
..
..
1,259,136
Mortgages
..
..
6,793,575
Shares in computer company
..
10,000
Total ordinary investments
..
..
19,198,170
Fixed assets—
Depre-
Cost
ciation
Book
Price
to Date
Value
$
$
$
Land and buildings
..
91,521
1,832
89,689
Vehicles, equipment,
furniture, etc.
..
166,968
72,938
94,030
258,489
74,770
183,719
Total Fixed Assets
..
..
..
183,719
$21,495,692

NOTES TO ACCOUNTS

1. Government stock—It is the bank’s policy to amortise the
   discounts and premiums on Government stock securities over the
   term of the investment on a straight-line basis, and to show the
   value of the stock in the balance sheet at cost price plus amortised
   discount to date.

In accordance with the policy the sum of $4,050 has been trans-
ferred to the profit and loss account for this financial year.
$
Nominal value of Government stock investments
11,181,940
Less premiums and discounts not yet amortised ..
46,481
$11,135,459

2. Capital commitment—mortgages:
   Mortgages approved but not advanced at 31
   March 1972
   ..
   ..
   ..
   $631,181
   D. D. DAVIS, President.
   P. D. MUNN, General Manager.

AUDITOR’S CERTIFICATE

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 information and explanations required.

2. I have verified the cash, investments, securities, and assets
   of the bank as at 31 March 1972.

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.

In my opinion, the above balance sheet and profit and loss
account are properly drawn up so as to give respectively a true and
fair view of the state of the bank’s affairs as at 31 March 1972
and of the results of its business for the year ended on that date.

J. L. GREGORY, F.C.A., Auditor.

1753

WAIKATO SAVINGS BANK
PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1972
Interest to depositors—
1972
1971
$
$
On open accounts
..
..
609,312
557,245
Closed accounts and matured
investment accounts
..
184,142
242,953
Accrued on investment accounts
..
337,852
272,741
Home layby suspensory free deposits
638
614
Sub-total
..
..
$1,131,944
$1,073,553