9 AUGUST

THE NEW ZEALAND GAZETTE

BAY OF PLENTY SAVINGS BANK

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1973
Interest to depositors—
To open accounts ... 419,999
Closed accounts and matured investment accounts ... 105,497
Accrued on investment accounts ... 197,847
Home layby accounts: suspensory free deposits ... 299
Sub-total ... 723,642
Administrative expenses ... 502,606
Trustee honoraria ... 4,121
Depreciation ... 20,625
Provision for taxation ... 49,072
Payroll tax ... 5,966
Net profit—carried down ... 61,714
$1,367,746
Interest on investments—
From New Zealand Government stock 621,322
From local authorities stock ... 76,083
From mortgages ... 504,146
From other sources ... 129,610
Sub-total ... 1,331,161
Income from other sources ... 36,585
$1,367,746
APPROPRIATION ACCOUNT
Provision for donations ... 7,500
Transfer to reserve ... 54,214
$61,714
Net profit—brought down ... 61,714
$61,714
BALANCE SHEET AS AT 31 MARCH 1973
Depositors' accounts—
Ordinary accounts ... 19,848,034
Special accounts ...
19,848,034
Investment accounts ... 6,002,028
Total liability to depositors ... 25,850,062
Other liabilities—
Interest accrued on investment accounts ... 197,847
Mortgages ... 52,600
Owing to other trustee banks ... 9,951
Remittances in transit ... 93,580
Sundry creditors ... 18,825
372,803
Provision for donations ... 7,500
Provision for taxation ... 131,310
Reserve fund ... 268,620
$26,630,295
Current assets—
Cash on hand and at bank ... 245,766
Fixed deposits ... 1,480,000
Short-term investments ... 100,000
Interest accrued on investments ... 327,159
Owing by other trustee banks ... 45,313
Prepayments ... 2,284
Sundry debtors ... 5,006
Leasehold property suspense ... 39,197
Stocks on hand ... 9,532
2,254,257
Investments—
New Zealand Government stock (note 1) ... 13,339,623
Local authority securities ... 1,737,105
Mortgages ... 9,057,154
Shares in computer company ... 10,000
Total ordinary investments ... 24,143,882
Fixed assets—
Cost Price Depre- ciation Book Value
Land and buildings . . 143,751 2,781 140,970
Vehicles, equipment, furniture, etc. . . 182,327 91,141 91,186
326,078 93,922 232,156
Total fixed assets . . . . . . . . . 232,156
$26,630,295
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 $4,093 has been transferred to the profit and loss account for this financial year.
   Nominal value of Government stock investments 13,381,540
   Less premiums and discounts not yet amortised .. 41,917
   $13,339,623
2. Capital commitments—
   Mortgages approved but not advanced at 31 March 1973 ... 898,100
   Expenditure committed to building contracts ... 69,700
   R. G. TOULSON, 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:
3. I have examined the books, accounts, and vouchers of the bank and have received all information and explanations required.
4. I have verified the cash, investments, securities, and assets of the bank as at 31 March 1973.
5. 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 view of the state of the bank's affairs as at 31 March 1973 and of the results of its business for the year ended on that date.
   J. L. GREGORY, F.C.A., Auditor.
   25 May 1973.
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   EASTERN AND CENTRAL SAVINGS BANK
   REVENUE ACCOUNT FOR YEAR ENDED 31 MARCH 1973
   Interest to depositors—
   On open accounts ... 540,250
   Closed accounts and matured investment accounts 193,814
   Accrued on investment accounts ... 293,955
   1,028,019
   Administrative expenses ... 699,103
   Trustees’ honoraria ... 5,890
   Depreciation ... 30,133
   Amortisation—
   Government stock and local authority stock ... 9,291
   Realisation of assets (losses) ... 2,764
   Reserve for taxation ... 53,150
   Net profit—carried down ... 66,698
   $1,895,048
   Interest on investments—
   From New Zealand Government stock ... 829,324
   From local authority stock ... 75,842
   From mortgages ... 746,065
   From other sources ... 172,022
   1,823,253
   1543