18 AUGUST
THE NEW ZEALAND GAZETTE
2307

Interest on investments:
From New Zealand Government stock .. .. .. $ 894,928
From local authorities stock .. .. .. 58,577
From mortgages .. .. .. 1,251,897
From other sources .. .. .. 231,311
Subtotal .. .. .. 2,436,713
Income from other sources .. .. .. 106,060
$2,542,773

APPROPRIATION ACCOUNT
Provision for donations .. .. .. $ 500
Provision for deferred taxation .. .. 18,000
Transfer to reserve .. .. .. 26,389
$44,889

Net profit brought down .. .. .. 44,509
Provision for donations 1976 reversal .. 380
$44,889

BALANCE SHEET AS AT 31 MARCH 1977
Depositors’ accounts:
Ordinary accounts .. .. .. $ 25,360,520
Special accounts .. .. .. .. .. ..
Subtotal .. .. .. 25,360,520
Investment accounts .. .. .. 9,138,403
Total liability to depositors .. .. .. 34,498,923
National savings accounts .. .. .. ..
Add interest suspense account .. .. .. ..
Subtotal .. .. .. ..
Interest accrued on investment accounts 307,797
Mortgages .. .. .. 146,440
Owing to other trustee banks .. .. 13,374
Remittances in transit .. .. .. ..
Staff Provident Fund .. .. .. ..
Sundry creditors .. .. .. 100,253
Other term loan .. .. .. 235,000
Total other liabilities .. .. .. 802,864
Provision for donations .. .. .. 500
Provision for taxation: .. .. .. 110,263
(Special appropriations of reserves)
Reserve fund .. .. .. 197,384
$35,609,934

Current assets:
Cash on hand and at bank .. .. .. $ 399,437
Fixed deposits .. .. .. 1,275,556
Interest accrued on investments .. .. 249,512
Owing by other trustee savings banks .. 31,694
Prepayments .. .. .. 40,816
Total ordinary investments .. .. .. 1,997,015
Investments:
New Zealand Government stock .. .. 15,616,760
Local Authority Securities .. .. 840,194
Mortgages .. .. .. 16,381,601
Personal loans .. .. .. 355,707
Total ordinary investments .. .. .. 33,194,262
National Savings Securities:
New Zealand Government stock .. .. ..
Cash on hand and at bank .. .. .. ..
Total national savings securities .. .. ..
Fixed assets:
Cost Price $ Depreciation to Date $ Book Value $
Land and buildings .. .. 241,896 14,384 227,512
Vehicles, equipment, furniture, etc. .. 285,923 124,288 161,635
Improvements to leasehold premises .. 62,672 33,162 29,510
Total fixed assets .. .. .. 418,657
$35,609,934

Leonard A. Hadley, President. k.b.a.
J. W. Brown, General Manager.

We report that we have audited the books and accounts of the Wellington Savings Bank for the year ended 31 March 1977, and have received all the information and explanations we have required.

In our opinion, the accompanying balance sheet and statement of profit and loss presents fairly the financial position of the Bank at 31 March 1977, 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 (with the exception of the item in Note 5).

HUTCHISON HULL & CO., Chartered Accountants.

BAY OF PLENTY SAVINGS BANK
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1977

Interest to depositors:
To open accounts .. .. .. $ 748,268
Closed accounts and matured investment accounts .. .. .. 443,143
Accrued on investment accounts .. .. 441,829
Home lay-by accounts: suspensory free deposits .. .. .. 289
$1,633,529
Administrative expenses .. .. .. 1,519,592
Trustee honoraria .. .. .. 4,159
Depreciation (note 2) .. .. .. 40,245
Provision for taxation .. .. .. 101,856
Net profit—carried down .. .. .. 121,846
$3,421,227

Interest on investments:
From New Zealand Government stock .. 1,170,333
From local authorities stock .. .. 13,714
From mortgages .. .. .. 1,483,797
From other sources .. .. .. 534,443
$3,202,287
Income from other sources .. .. .. 218,940
$3,421,227

APPROPRIATION ACCOUNT
Provision for donations .. .. .. $ 12,500
Share of loss—Northern Trustee Computerbank Ltd. .. 14,932
Transfer to reserve .. .. .. 94,414
$121,846
Net profit—brought down .. .. .. $121,846

BALANCE SHEET AS AT 31 MARCH 1977
Depositors’ accounts:
Ordinary accounts .. .. .. $ 32,605,106
Personal cheque accounts .. .. 1,315,078
Investment accounts .. .. .. 14,114,598
Housing bonds .. .. .. 51,450
$48,086,232

Other liabilities:
Interest accrued on investment accounts .. .. .. 441,829
Mortgages .. .. .. 159,600
Owing to other trustee banks .. .. 4,491
Sundry creditors .. .. .. 80,300
Remittances in transit .. .. .. 3,826
690,046
Provision for donations .. .. .. 12,500
Provision for deferred taxation .. .. 371,859
Reserve fund .. .. .. 649,861
$49,810,498