5 JULY
THE NEW ZEALAND GAZETTE
2081

Investments—
New Zealand Government
securities .. .. 206,112,779
Local authority securities .. 32,344,050
Mortgages .. .. 261,850,084
Personal loans .. .. 5,909,522

Total ordinary investments .. .. 506,216,435

National savings securities—
New Zealand Government
securities .. .. 378,416

Total national savings securities .. 378,416

Fixed assets—
Cost
Depreciation
Book
Value
Land and buildings .. 10,722,372 1,162,791 9,559,581
Vehicles, equipment,
furniture, etc. .. 11,829,413 4,544,769 7,284,644

Total fixed assets .. .. 16,844,225

$585,428,300

Depositors’ accounts—
1978
Ordinary accounts .. .. 323,685,228
Personal cheques .. .. 6,487,346

330,172,574
Investment accounts .. .. 116,286,858
Term deposits .. .. 13,142,346
Housing bonds .. .. 1,197,680

Total liability to depositors .. 460,799,458
National savings accounts .. 391,146
Add interest suspense account .. 8,244

399,390

Other liabilities—
Interest accrued on investment
accounts .. .. 4,307,366
Interest accrued on term deposits .. 197,774
Interest accrued on housing bonds .. 23,260
Interest accrued on solicitors’ trust ..
Sundry creditors .. .. 141,303

Total other liabilities .. .. 4,669,703
Provision for donations .. .. 450,000
Provision for current taxation .. 227,911
Provision for deferred taxation .. 2,425,237
Reserve fund .. .. 24,693,591

$493,665,290

Note:
Capital commitments .. .. 504,000
Mortgages approved but not
advanced .. .. 11,406,000

Current assets—
Cash on hand and at bank .. 8,818,498
Fixed deposits .. .. 53,000,000
Interest accrued on investments .. 5,092,317
Owing by other trustee savings
banks .. .. 275,000
Sundry debtors .. .. 58,767

67,244,582

Investments—
New Zealand Government
securities .. .. 176,729,012
Local authority securities .. 29,097,233
Mortgages .. .. 200,079,101
Personal loans .. .. 4,264,935

Total ordinary investments .. 410,170,281

National savings securities—
New Zealand Government
securities .. .. 399,390

Total national savings securities .. 399,390

Fixed assets—
Book
Value
$ 1978
$
Land and buildings .. 9,172,801
Vehicles, equipment, furniture, etc. 6,678,236

Total fixed assets .. .. 15,851,037

$493,665,290

PROFIT AND LOSS ACCOUNT
1979 1978
Interest to depositors—
On open accounts .. .. 8,940,455 8,068,746
Closed accounts and matured
accounts .. .. 8,318,875 3,900,133
Accrued on investment accounts.. 4,194,262 4,307,366
Accrued on term deposits .. 434,989 197,775
Accrued on housing bonds .. 17,644 23,260
Accrued on solicitors’ trust .. 46,858
Home lay-by accounts—suspen-
sory free deposits .. .. 78,570 50,318

Sub-total .. .. 22,031,653 16,547,598
Administrative expenses .. 11,949,912 10,043,017
Trustees’ honoraria .. .. 6,862 6,646
Depreciation .. .. 1,007,312 783,871
Provision for taxation .. 3,251,806 2,109,513
Net profit—carried down .. 4,286,133 2,627,925

$42,533,678 $32,118,570

APPROPRIATION ACCOUNT
Provision for donations .. .. 500,000 450,000
Transfer to reserve .. .. 3,792,248 2,189,055

$4,292,248 $2,639,055

PROFIT AND LOSS ACCOUNT
Interest on investments—
From New Zealand Government
securities .. .. 12,547,468 11,039,574
From local authorities securities.. 2,221,516 1,818,017
From mortgages .. .. 20,256,917 13,806,460
From personal loans .. .. 627,359 445,078
From other sources .. .. 6,024,974 4,044,023

Sub-total .. .. 41,678,234 31,153,152
Income from other sources .. 855,444 965,418

$42,533,678 $32,118,570

APPROPRIATION ACCOUNT
Net profit, brought down .. .. 4,286,133 2,627,925
Over provision for donations .. 6,115 11,130

$4,292,248 $2,639,055

27 April 1979.

President.
General Manager.

We have audited the books and accounts of the Auckland
Savings Bank for the year ended 31 March 1979, in accordance
with generally accepted auditing standards, and have carried out
such procedures as we considered necessary.

In our opinion the above balance sheet, profit and loss account,
and appropriation account, together with the notes thereon, are
properly drawn up so as to give respectively a true and fair view
of the financial position of the Auckland Savings Bank as at 31
March 1979, and the financial result of its transactions for the
year ended on that date, in accordance with section 29 (2) of the
Trustee Savings Banks Act 1948.

CLARKE, MENZIES AND CO., } Auditors.
Chartered Accountants.

STATEMENT OF ACCOUNTING POLICIES
The general accounting principles recommended by the New
Zealand Society of Accountants for the measurement and re-
porting of profits on an historical basis have been followed.