20 JUNE
THE NEW ZEALAND GAZETTE
1239

Vehicles, office
equipment,
furniture, etc.
$ 1974
$ 1973
$
301,139
316,806

Less depreciation
to date
960,416
961,034

Total fixed
assets
279,666
274,759

$680,750
$686,275

$38,517,695
$34,936,054

Contingent liability—
Subsidy on Home loan and Ownership accounts
$ 24,600

New Zealand Government stock cost price
$18,609,033.90

G. MACALLAN, President.
D. H. BLANCHETT, General Manager.

AUDITORS’ CERTIFICATE

We have examined the balance sheet of Taranaki Savings Bank
as of 31 March 1974, 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 Taranaki
Savings Bank at 31 March 1974, and the results of its operations
for the year then ended, in conformity with generally accepted
accounting principles applied on a basis consistent with that of the
preceding year.

WYNYARD, GLASGOW, FOX, & CO.,
Chartered Accountants.

New Plymouth, 13 May 1974.

CANTERBURY SAVINGS BANK

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1974

Interest to depositors—
$ 1,556,003
On open accounts
368,612
Closed accounts and matured investment accounts
522,486
Accrued on investment accounts
1,264
Home Layby accounts: suspensory free deposits

2,448,365
Administration expenses
1,662,657
Trustees’ honoraria
3,972
Depreciation
83,418
Provision for taxation
372,342
Net profit
487,351

$5,058,105

Interest on investments—
$ 2,263,654
New Zealand Government stock
240,999
Local authorities stock
2,181,889
Mortgages
226,653
Other sources
144,910
Income from other sources

$5,058,105

APPROPRIATION ACCOUNT

Provision for donations
$ 45,000
Transfer to Reserve
442,351

$487,351

Net profit
$ 487,351

$487,351

BALANCE SHEET AS AT 31 MARCH 1974

Depositors’ accounts—
$ 64,824,485
Ordinary accounts
2,725,348
Special accounts

67,549,833
Investment accounts
17,374,544

Total liability to depositors
84,924,377

Other liabilities—
$ 522,487
Interest accrued on investment
accounts
48,100
Mortgages
53,349
Owing to other trustee banks
455,900
Remittances in transit
395,242
Staff provident fund
271,836
Sundry creditors

Total other liabilities
1,746,914
Provision for donations
45,000
Provision for taxation
442,197
Premiums due on redemption of
Government stock
117,471
Reserve fund
1,403,353

$88,679,312

Current assets—
$ 1,821,258
Cash on hand and at bank
1,950,000
Fixed deposits
965,689
Interest accrued on investments
39,165
Owing by other trustee savings banks
3,039
Prepayments
124,575
Remittances in transit
17,078
Sundry debtors

Total current assets
4,920,804

Investments—
$ 44,873,000
New Zealand Government stock
4,570,677
Local authority securities
32,445,945
Mortgages
191,578
Personal loans

Total ordinary investments
82,081,200

Fixed assets—
Cost
Depreciation
to Date
Book
Value
$ 1,344,868
37,926
1,306,942
Land and buildings
720,976
350,610
370,366
Vehicles, equipment, furniture, etc.

Total fixed assets
1,677,308

$88,679,312

Note to accounts—New Zealand Government stock—
$ 44,755,529
Cost value
117,471
Premiums due on redemption

$44,873,000

H. G. HAY, President.
FRANK DICKSON, General Manager.

We, the undersigned being the auditors of the Canterbury Savings
Bank, appointed in terms of section 29 (3) of the Trustee Savings
Banks Act 1948, report that:

We have examined the accompanying balance sheet and profit
and loss account and have obtained all the information and explana-
tions we have required. We are of the opinion that proper books of
account have been kept by the bank, that the balance sheet and
accounts comply with the Trustee Savings Banks Act 1948, and
that they give a true and fair view of the state of affairs of the bank
as at 31 March 1974 and of its results for the year ended on that
date.

GILFILLAN, GENTLES, PICKLES, PERKINS, & CO.

1179