6 JULY THE NEW ZEALAND GAZETTE 1431

WANGANUI SAVINGS BANK

BALANCE SHEET AS AT 31 MARCH 1972

Depositors’ accounts—
Savings .. .. .. 6,749,566.01
Thrift .. .. .. 467,117.42
————————
7,216,683.43
Investment Accounts .. .. 3,568,400.00
————————
Total liability to depositors .. .. 10,785,083.43

Other liabilities—
Interest accrued on investment
accounts .. .. .. 81,157.50
Mortgages .. .. .. 62,169.70
Owing to other trustee banks .. 12,058.51
Sundry creditors .. .. .. 15,106.60
————————
Total other liabilities .. .. 170,492.31
Provision for donations .. .. 7,100.00
Provision for taxation .. .. 45,774.44
Provision for future loss on
sale of statutory investments .. 4,381.00
Premiums due on redemption
of investments .. .. .. 11,090.48
Reserve fund .. .. .. 88,973.82
————————
$11,112,895.48
================

Current assets—
Cash on hand and at bank .. 787,940.36
Fixed deposits .. .. .. 196,400.00
Interest accrued on investments .. 76,478.85
Owing by other trustee savings banks 147.79
Prepayments .. .. .. 9,486.96
Sundry debtors .. .. .. 4,630.00
————————
Total current assets .. .. 1,075,083.96

Investments—
New Zealand Government stock .. 5,566,000.00
Local authority securities .. 525,120.03
Mortgages .. .. .. 3,772,887.59
————————
9,864,007.62

Fixed assets—
Cost Depreciation Book
Price to Date Value
$ $ $
Land and buildings .. 86,994.16 4,087.26 82,906.90
Vehicles, equipment, furniture, etc. .. 156,559.92 65,662.92 90,897.00
Total fixed assets .. .. .. 173,803.90
————————
$11,112,895.48
================

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1972

Interest to depositors—
On open accounts .. .. .. 199,160.39
Closed accounts and matured investment accounts 59,725.74
Accrued on investment accounts .. .. 81,157.50
————————
340,043.63

Administrative expenses .. .. .. 205,369.01
Trustees’ honoraria .. .. .. 2,174.75
Depreciation.. .. .. .. 17,588.89
Provision for taxation.. .. .. 32,631.20
Net profit—carried down .. .. .. 35,286.42
————————
$633,093.90
================

Interest on investments—
From New Zealand Government stock .. 303,456.62
From local authorities stock .. .. 28,719.33
From mortgages .. .. .. 237,654.18
From other sources .. .. .. 32,023.21
————————
601,853.34
Income from other sources .. .. .. 31,240.56
————————
$633,093.90
================

APPROPRIATION ACCOUNT

Provision for donations .. .. .. 7,100.00
Transfer to reserve .. .. .. 28,186.42
————————
$35,286.42
================

Net profit—brought down .. .. .. 35,286.42
————————
$35,286.42
================

Government stock—
Face value .. .. .. 5,566,000.00
Cost value .. .. .. 5,549,694.23
————————
Premiums due on redemption .. .. 16,305.77

Less: Amounts transferred to profit and loss
account since 1 April 1966 .. .. 5,215.29
————————
Per balance sheet .. .. .. $11,090.48
================

NOTES—

1. Redemption of investments: Low interest yielding stock was
   sold during the year and replaced with higher interest stock which
   will produce increased income over the term of the investment.

2. The values of Government stock held on 31 March 1972 were
   as follows—
   Cost value .. .. .. 5,549,694
   Face value .. .. .. 5,566,000
   Market value .. .. .. 5,473,032

3. Mortgages approved not yet advanced totalled $204,980.

4. Interest on investment accounts has been accrued at the
   average rate paid during the year.

5. There is a capital commitment of $17,000 in respect of the
   purchase of a property at present leased by the bank as a district
   office.

J. I. JOLLEY, President.
G. I. C. McDOUALL, General Manager.

AUDITORS’ CERTIFICATE

We have examined the records and financial accounts of the
Wanganui Savings Bank for the year ended 31 March 1972. Our
examinations were made in accordance with the general principles
of auditing and accordingly included such tests of the accounting
records and such other auditing procedures as we considered
necessary in the circumstances.

In our opinion, the accompanying balance sheet with notes
attached, and profit and loss account present fairly the financial
position of the Wanganui Savings Bank at 31 March 1972 and the
results of its operations for the year then ended.

BARKMAN, SILK, AND PARTNERS, Auditors.

4 May 1972.

1750

MANAWATU WAIRARAPA SAVINGS BANK

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1972

1971 Interest to depositors— 1972
$ $
156,428 On open accounts .. .. .. 169,768
100,051 Closed accounts and matured investment
106,823 accounts .. .. .. 83,832
Accrued on investment accounts .. 107,011
———————— ————————
363,302 360,611
210,819 Administrative expenses .. .. 259,076
2,196 Trustees’ honoraria .. .. 2,895
12,173 Depreciation .. .. .. 11,858
Adjustment on Government and local
authority stock switching .. .. 1,702
2,281 Provision for taxation .. .. 3,502
1,532 Payroll tax .. .. .. 3,028
1,573 Net profit—carried down .. .. 2,634
———————— ————————
$593,876 $645,306
================ ================