9 AUGUST

THE NEW ZEALAND GAZETTE

1547

AUDITORS' CERTIFICATE

I have examined the records and financial accounts of the West-
land Savings Bank for the year ended 31 March 1973. My examina-
tions 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 I considered neces-
sary in the circumstances. In my opinion, the accompanying
balance sheet with notes attached, and profit and loss account
present fairly the financial position of the Westland Savings
Bank as at 31 March 1973, and the results of its operations for the
year then ended.

W. J. GUTBERLET, F.C.A.N.A., F.I.A.N.Z., Auditor.

1143

SOUTH CANTERBURY SAVINGS BANK
PROFIT AND LOSS ACCOUNT FOR YEAR ENDING 31 MARCH 1973
To interest to depositors—$
On open accounts ... $175,102.60
Closed accounts and matured investment accounts 31,940.93
Accrued on investment accounts ... $83,178.15
$290,221.68
To administrative expenses .. $141,582.05
To trustees' honoraria ... $2,227.00
To depreciation ... $5,961.08
To provision for taxation ... $37,142.05
To payroll tax ... $1,779.70
To net profit to profit and loss appropriation account $47,132.32
$526,045.88
By interest on—$
New Zealand Government stock ... $240,962.01
Local body securities ... $44,659.58
Mortgages ... $181,842.93
Fixed deposits ... $44,140.84
$511,605.36
By commission, rents, etc. ... $14,440.52
$526,045.88
PROFIT AND LOSS APPROPRIATION ACCOUNT FOR YEAR ENDING
31 MARCH 1973
To provision for grants (1973) ... $8,000.00
To balance to reserve fund ... $39,632.32
$47,632.32
$500.00
By provision for grants (1972) not distributed ...
By balance from profit and loss account ... $47,132.32
$47,632.32
BALANCE SHEET AS AT 31 MARCH 1973
Liabilities
Depositors' accounts—$
Ordinary accounts ... $6,903,012.36
Thrift club accounts ... $569,907.63
$7,472,919.99
Investment accounts ... $2,577,020.00
Total liability to depositors ... $10,049,939.99
Other liabilities—
Interest accrued on investment
accounts ... $83,178.15
Mortgage ... $30,000.00
Sundry creditors ... $8,395.00
Bank overdraft ... $22,429.37
$144,002.52
Provision for grants ... $8,000.00
Provision for taxation ... $37,142.05
Less prepaid ... $21,724.18
$15,417.87
Premium due on redemption of Government stock $16,050.00
Reserve fund—
Balance 31 March 1972 ... $89,616.26
Add balance of appropriation
account 31 March 1973 ... $39,632.32
$129,248.58
$10,362,658.96
Assets
Current assets—$
Cash in hand and at bank ... $642,086.57
Fixed deposits ... $600,000.00
Interest accrued on investments ... $88,735.91
Owing by other trustee banks ... $26,254.32
$17,076.80.35
Investments—
New Zealand Government stock
(face value) ... $5,200,000.00
Local body securities (at cost) ... $840,474.32
Mortgages ... $2,861,849.15
$8,902,323.47
Fixed assets—
Freehold land and buildings ... $85,910.79
Depreciation to date ... $7,134.10
$78,776.69
Alterations to leasehold premises $4,524.56
Depreciation to date ... $3,232.56
$1,292.00
Office furniture and equipment ... $48,798.90
Depreciation to date ... $25,608.90
$23,190.00
$10,362,658.96
NOTES—

1. New Zealand Government stock is shown at face value. The
   redemption due on maturity in regard to stock purchased under par
   is shown as a reserve to be brought to account upon either maturity
   or sale of the stock concerned.
2. Fixed deposits having terms of 2 years and shorter are
   $400,000. Fixed deposits for terms longer than 2 years are $200,000.
   R. L. G. TALBOT, M.P., President.
   D. R. PARKER, General Manager.
   AUDITORS' REPORT
   We have examined the balance sheet of South Canterbury
   Savings Bank as of 31 March 1973, and the related profit and loss
   account for the year then ended. Our examination was made in
   accordance with generally accepted auditing standards, and
   accordingly included such tests of the accounting records and such
   other auditing procedures as we considered necessary in the
   circumstances.
   In our opinion, the accompanying balance sheet and profit and
   loss account present fairly the financial position of South Canter-
   bury Savings Bank at 31 March 1973, and the results of its opera-
   tions for the year then ended, in conformity with generally accepted
   accounting principles applied on a basis consistent with that of the
   preceding year.
   HUBBARD, CHURCHER, GABITES, & CO.,
   Chartered Accountants.
   Timaru, 28 May 1973.
   1275
   SOUTHLAND SAVINGS BANK
   BALANCE SHEET AS AT 31 MARCH 1973
   Depositors' accounts—$
   Ordinary accounts—
   Savings bank accounts ... $40,990,970
   Thrift club accounts ... $65,436
   Sub-total ... $41,056,406
   Investment accounts ... $5,534,330
   Total liability to depositors ... $46,590,736
   National savings accounts ... $59,777
   Add interest suspense account ... $1,537
   $61,314
   Sub-total ... $46,652,050
   Other liabilities—
   Interest accrued on investment
   accounts ... $217,178
   Mortgages ...
   Owing to other trustee banks ...
   Remittances in transit ...
   Staff Provident fund ...
   Sundry creditors ... $6,937
   Other (detail) ...
   Total other liabilities ... $224,115
   Provision for donations ... $40,000
   Provision for taxation ... $221,867
   Reserve fund ... $2,843,143
   $49,981,175