1936
THE NEW ZEALAND GAZETTE
No. 73

WAIKATO SAVINGS BANK
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1977

Interest to depositors:

1977
$

1976
$

On open accounts
.. 1,046,271
1,021,778

Closed accounts and matured investment accounts
.. 859,494
618,652

Accrued on investment accounts
.. 396,407
221,554

Home layby accounts: suspensory free deposits
.. 1,586
1,524

2,303,758
1,863,508

Administrative expenses:
.. 2,061,918
1,643,481

Trustees’ honoraria:
.. 5,457
5,410

Depreciation:
.. 71,197
64,983

Provision for taxation:
.. 52,430
151,086

Net profit: carried down:
.. 84,268
195,946

$4,579,028
$3,924,414

Interest on investments:

1977
$

1976
$

From New Zealand Government stock
.. 1,607,967
1,441,013

From local authorities stock
.. 177,747
223,580

From mortgages
.. 2,203,336
1,819,855

From other sources
.. 432,821
309,829

Total interest
.. 4,421,871
3,794,277

Income from other sources
.. 157,157
130,137

$4,579,028
$3,924,414

PROFIT AND LOSS APPROPRIATION ACCOUNT

1977
$

1976
$

Provision for donations
.. 12,000
20,000

Capital loss on demolition
.. -
61,816

Transfer to reserve
.. 72,268
114,130

84,268
195,946

Net profit, brought down
.. 84,268
195,946

$84,268
$195,946

BALANCE SHEET AS AT 31 MARCH 1977

1977
$

1976
$

Depositors’ accounts:

Ordinary accounts
.. 42,366,472
40,840,899

Current accounts
.. 1,066,543
526,109

Investment accounts
.. 20,115,805
16,230,730

Housing bonds
.. 180,870

Total liability to depositors
.. 63,729,690
57,597,738

National savings accounts

Add interest suspense account
.. -

Other liabilities:

Interest accrued on investment accounts
.. 396,407
221,554

Owing to other trustee banks
.. 44,731
29,079

Sundry creditors
.. 278,133
57,570

Total other liabilities:
.. 719,271
308,203

Provision for donations:
.. 12,000
20,000

Provision for deferred taxation:
.. 230,695
216,274

Provision for taxation:
.. 52,430
151,086

Special appropriations or reserves:
.. 140,128
36,429

Reserve fund:
.. 1,144,348
1,072,080

$66,028,562
$59,401,810

Current Assets:

1977
$

1976
$

Cash on hand and at bank
.. 569,412
105,216

Fixed deposits
.. 1,950,000
1,950,000

Short term deposits
.. 400,000
700,000

Interest accrued on investments
.. 599,520
483,696

Owing by other trustee savings banks
.. 31,094
33,659

Prepayments (taxation)
.. 1,866,000
1,506,000

Remittances in transit
.. 137,026
135,344

Sundry debtors
.. -
51,880

Total current assets:
.. 5,794,854
5,018,522

Investments:

New Zealand Government stock
.. 28,301,146
26,785,095

Local authority securities
.. 2,607,844
3,196,049

Mortgages
.. 27,407,496
23,200,327

Personal loans
.. 546,598
526,243

Total ordinary investments:
.. 58,863,084
53,707,714

Company shares and debentures
.. 113,000
113,000

Fixed assets:

Land and buildings
.. 962,558
300,956

Vehicles, equipment, furniture, etc.
.. 295,066
261,618

Total fixed assets:
.. 1,257,624
562,574

$66,028,562
$59,401,810

Capital commitments

1977
$

1976
$

Mortgages approved, but not yet advanced
.. 1,341,492
1,281,030

Local body loans approved but not yet advanced
.. 109,900
40,000

New head office building
.. 1,380,000
1,707,469

T. C. HICKMOTT, President.
S. R. McROBIE, General Manager.

AUDITORS’ REPORT

The above balance sheet and attached profit and loss account are in agreement with the books which, in our opinion, have been properly kept. We have obtained all the information and explanations we required. In our opinion, according to the best of our information and the explanations given to us, the above balance sheet and profit and loss account present fairly the financial position of the Waikato Savings Bank as at 31 March 1977 in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year.

HUTCHISON, HULL & Co., Chartered Accountants.
17 May 1977.

CONTENTS

ADVERTISEMENTS
.. Page 1921

APPOINTMENTS
.. 1877

BANKRUPTCY NOTICES
.. 1919

LAND TRANSFER ACT: NOTICES
.. 1919

MISCELLANEOUS—

Animal Remedies Act: Notice
.. 1897

Commerce Act: Notices
.. 1911

Customs Tariff: Notice
.. 1897

Dangerous Goods Act: Notice
.. 1895

Education Act: Notices
.. 1888

Harbours Act: Notices
.. 1894

Honours and Awards: Notice
.. 1889

Indecent Publications Act: Notice
.. 1894

Land Act: Notices
.. 1885

Local Authorities Loans Act: Notice
.. 1895

Maori Affairs Act: Notices
.. 1893

Marriage Act: Notices
.. 1878

Plant Varieties: Notices
.. 1917

Post Office Act: Notice
.. 1888

Public Trustee Office Act: Notice
.. 1895

Public Works Act: Notices
.. 1879

Regulations Act: Notice
.. 1918

Reserves and Domains Act: Notices
.. 1885

Reserve Bank: Statements
.. 1912

Sale of Liquor Act: Notices
.. 1889

Schedule of Contracts: Notice
.. 1900

Standards Act: Notices
.. 1895

Traffic Regulations: Notices
.. 1886, 1893

Transport Act: Notices
.. 1888

Wildlife Act: Notice
.. 1888

Valuation of Land Act:
.. 1894

PROCLAMATIONS, ORDERS IN COUNCIL, AND WARRANTS
.. 1877

Price 80c

BY AUTHORITY: E. C. KEATING, GOVERNMENT PRINTER, WELLINGTON, NEW ZEALAND—1977