2100
THE NEW ZEALAND GAZETTE
No. 65

Other liabilities—
Interest accrued on investment accounts .. 194,138 166,054
Sundry creditors .. 40,547 22,978
Owing to other trustee banks .. .. 16,471
Provision for taxation .. 73,133 66,213
Prepaid .. 63,532 43,435
—Tax payable .. 9,601 22,778
Provision for grants .. 15,000 15,000
Provision for building alteration reserve .. .. 20,000
Premium due on redemption of government stock .. 16,050 16,050
Reserve fund—
Balance at 31 March 1977 333,759 283,768
Add Provision for Building Alterations Reserve—
Written back .. 20,000
Add balance of profit and loss appropriation account, 31 March 1978 77,848 49,991
.. 431,607 333,759
$21,719,269 $18,228,862

Assets
1978
$ 1977
$
Current assets—
Cash in hand and at Bank 414,061 271,023
Fixed deposits .. 2,350,000 1,200,000
Owing to other trustee banks .. .. 10,173
Interest accrued on investments 143,427 151,977
Branch items in transit 118,248 9,059
.. 3,025,736 1,642,232

Investments—
N.Z. Government stock (face value) .. 8,000,000 7,890,000
Local authority securities 1,568,472 1,573,609
Mortgages .. 8,645,650 6,787,670
Personal loans .. 201,115
Less Interest yet to mature 17,578 183,537 162,007
.. 18,397,659 16,413,286

Fixed assets—
Freehold land and building 155,312 122,625
Alteration to leasehold premises .. 10,500 10,500
Office equipment and furniture .. 246,585 113,264
Depreciation to date .. 412,397 246,389
.. 116,523 73,045
.. 295,874 173,344
$21,719,269 $18,228,862

WAİKATO SAVINGS BANK
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1978

1978
$ 1977
$
Interest to depositors—
On open accounts .. 1,131,464 1,046,271
Closed accounts and matured investment accounts 1,139,392 859,494
Accrued on investment accounts 547,867 396,407
Home lay-by accounts—supensory free deposits .. 1,029 1,586
.. 2,819,752 2,303,758

Administrative Expenses .. 2,472,425 2,061,918
Trustees’ Honoraria .. 4,229 5,457
Depreciation .. 143,107 71,197
Provision for taxation .. 117,369 52,430
Net profit—carried down 154,247 84,268
$5,711,129 $4,579,028

1978
$ 1977
$
Interest on investments—
From New Zealand Government stock 1,800,660 1,607,967
From local authorities stock 175,451 177,747
From mortgages .. 2,980,628 2,203,336
From other sources .. 560,360 432,821
Total interest .. 5,517,099 4,421,871
Income from other sources .. 194,030 157,157
$5,711,129 $4,579,028

PROFIT AND LOSS APPROPRIATION ACCOUNT

$ $
Provision for donations .. 18,000 12,000
Transfer to reserve .. 134,502 72,268
.. $152,502 $84,268

Net profit, brought down .. $154,247 $84,268
Overprovision taxation .. (1,745) ..
.. $152,502 $84,268

BALANCE SHEET AS AT 31 MARCH 1978

1978
$ 1977
$
Depositors’ accounts—
Ordinary accounts .. 45,436,509 42,366,472
Current accounts .. 1,610,613 1,066,543
Term deposits .. 8,217,464
Investment accounts .. 18,635,331 20,115,805
Housing bonds .. 272,790 180,870
Total liability to depositors .. 74,172,727 63,729,690

National savings accounts—
Add interest suspense account .. ..
Other liabilities—
Interest accrued on investment accounts .. 547,867 396,407
Owing to other trustee banks .. .. 44,731
Sundry creditors .. 588,332 278,133
Total other liabilities .. 1,136,199 719,271
Provision for donations .. 18,000 12,000
Provision for deferred taxation .. 298,969 230,695
Provision for taxation .. 88,185 52,430
Special appropriations or reserves .. 140,128 140,128
Reserve fund .. 1,271,002 1,144,348
$77,125,210 $66,028,562

1978
$ 1977
$
Current assets—
Cash on hand and at Bank .. 372,416 569,412
Fixed deposits .. 2,497,160 1,950,000
Short term deposits .. 800,000 400,000
Interest accrued on investments .. 664,375 399,520
Owing by other trustee savings banks .. .. 31,094
Short term mortgages .. 1,500,000 1,866,000
Prepayments (taxation) .. 15,867 137,026
Remittances in transit .. ..
Sundry debtors .. 292,993 241,802
Total current assets .. 6,142,811 5,794,854

Investments—
New Zealand Government Stock 28,551,659 28,301,146
Local authority securities 1,354,475 2,607,844
Mortgages .. 38,107,784 27,407,496