1784

THE NEW ZEALAND GAZETTE

No. 65

Government stock reconciliation—
Cost price … … … 25,885,469
Add capital gain on purchase… … 80,041
$25,965,510

National savings securities—
New Zealand Government stock purchased at par.

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1975

Interest to depositors—
On open accounts … … … … 1,193,266
Closed accounts and matured investment accounts … 127,977
Accrued on investment accounts … … … 214,190
Home layby accounts: suspensory free deposits …
Sub-total … … … … 1,535,433
Administration expenses … … … 987,929
Trustees’ honoraria … … … … 6,214
Depreciation … … … … … 41,914
Provision for taxation … … … 300,369
Net profit—carried down … … … 393,696
$3,265,555

Interest on investments—
From New Zealand Government stock … 1,460,808
From local authorities stock … 413,718
From mortgages … … … … … 1,050,477
From personal loans … … … … 16,581
From other sources … … … … 234,898
Sub-total … … … … 3,176,482
Income from other sources … … … 89,073
$3,265,555

APPRIORIATION ACCOUNT

Provisions for donations … … … 50,000
Transfer to reserve … … … … 613,919
$663,919

Net profit—brought down … … … 393,696
Over-provision 1974 taxation … … … 419
Reversal provision for 1975 provisional taxation … 269,804
$663,919

I. W. CAMPBELL, President.
L. R. D. PAYNE, General Manager.

AUDITORS’ CERTIFICATE

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

1. That we have examined the books, accounts, and vouchers
   of the bank and have received all the information and explanations
   we have required.

2. We have verified the cash, investments, securities, and assets
   of the bank as at 31 March 1975.

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

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 Southland Savings Bank’s affairs as
at 31 March 1975, and of the results of its business for the year
ended on that date, in conformity with generally accepted accounting principles and applied on a basis consistent with that of the preceding year.

HENDERSON, ADAM & CO, Auditors.

Invercargill, 16 May 1975.

1631

WAIKATO SAVINGS BANK

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1975

1975 $ 1974 $
Interest to Depositors—
On open accounts … … … … 979,716 909,958
Closed accounts and matured investment accounts … 527,157 487,442
Accrued on investment accounts … … 178,431 152,049
Home layby accounts—suspensory free deposits … 2,123 1,292
Subtotal … … … … 1,687,427 1,550,741
Administrative expenses … … … 1,394,380 1,144,209
Trustees’ honoraria … … 3,498 3,420
Depreciation … … … … 48,071 45,995
Provision for taxation … … … 127,011 163,226
Net profit—carried down … … … 189,871 223,772
$3,450,258 $3,131,362

1975 $ 1974 $
Interest on investments—
From New Zealand Government stock … 1,421,486 1,341,845
From local authorities stock … … 232,846 210,379
From mortgages … … … … 1,534,671 1,303,359
From other sources … … … … 150,050 106,504
Subtotal … … … … 3,339,053 2,962,087
Income from other sources … … … 111,205 169,276
$3,450,258 $3,131,363

PROFIT AND LOSS APPROPRIATION ACCOUNT

1975 $ 1974 $
Provision for donations … … … 14,000 14,000
Transfer to reserve … … … … 175,871 209,772
$189,871 $223,772

1975 $ 1974 $
Net profit—brought down … … … 189,871 223,772
$189,871 $223,772

BALANCE SHEET AS AT 31 MARCH 1975

1975 $ 1974 $
Depositors’ accounts—
Ordinary accounts … … … 38,965,984 38,382,875
Current accounts … … … 193,317 …
Subtotal … … … … 39,159,301 38,382,875
Investment accounts … … 13,853,251 12,550,588

Total liability to depositors … … 53,012,552 50,933,463
National savings accounts … … … … …
Add interest suspense … … … … …
account … … … … … …
Subtotal … … … … … …

Other liabilities—
Interest accrued on investment accounts … 178,431 152,049
Mortgages … … … … … …
Bank overdraft … … … … … 366,886
Owing to other trustee banks … … 43,057 16,538
Remittances in transit … … … 18,318
Staff provident fund … … … …
Sundry creditors … … … … 77,178 69,554
Other (detail) … … … … …

Total other liabilities … … … 298,666 623,345
Provision for donations … … … 14,000 14,000
Provision for deferred taxation … … 216,701 187,362
Provision for taxation … … … 33,725 97,320
Land revaluation reserve … … … 36,429 36,429
Reserve fund … … … … 957,950 782,079

$54,570,023 $52,673,998