New Zealand Gazette – 1979 – No. 70

Page 2329

✨ Bank Financial Statements



2 AUGUST
THE NEW ZEALAND GAZETTE
2329

BALANCE SHEET AS AT 31 MARCH 1979

1979 $ 1978 $
Depositors’ Accounts—
Ordinary accounts 55,091,783 45,436,509
Current accounts 2,726,597 1,610,613
Term deposits 25,132,733 8,217,464
Investment accounts 12,098,989 18,635,351
Housing bonds 2,847,100 272,790
Total liability to depositors 97,897,202 74,172,727

Other liabilities—
Interest accrued on investment accounts 894,453 547,867
Sundry creditors 993,651 588,332
Total other liabilities 1,888,104 1,136,199
Provision for donations 30,000 18,000
Provision for deferred taxation 277,452 298,969
Provision for taxation 270,238 88,185
Special appropriations or reserves 140,128 140,128
Reserve fund 1,562,945 1,271,002
$102,066,069 $77,125,210

Current Assets—

1979 $ 1978 $
Cash on hand and at bank (5,326) 372,416
Fixed deposits 3,121,607 2,497,160
Short-term deposits 4,272,000 800,000
Interest accrued on investments 616,560 664,375
Short term mortgages 1,500,000
Prepayments (taxation) 106,214 15,867
Sundry debtors 423,555 292,993
Total current assets 8,534,610 6,142,811

Investments—
New Zealand Government stock 36,022,545 28,551,659
Local authority securities 2,174,016 1,354,475
Mortgages 50,240,993 38,107,784
Personal loans 1,560,492 622,105
Total ordinary investments 89,998,046 68,636,023
Company shares and debentures 113,000 113,000
$102,066,069 $77,125,210

Fixed assets—
Land and Buildings 2,607,606 1,677,292
Vehicles, equipment, furniture, etc. 812,807 556,084
Total fixed assets 3,420,413 2,233,376

Capital Commitments

Mortgages approved, but not yet advanced
3,470,000 2,762,050

R. D. REESE, 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 1979, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year.

HUTCHISON, HULL AND CO., Chartered Accountants.

3081

OTAGO SAVINGS BANK

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1976
Interest to Depositors—
On open accounts 1,380,368
Closed accounts, matured investment accounts, and term deposits 1,880,098
Accrued on investment accounts and term deposits 2,089,326
Accrued on other depositors funds 19,139
Home lay-by accounts—suspensory free deposits 200
Administrative expenses 5,369,131
Trustees’ honoraria 2,541,175
Depreciation 7,196
Provision for taxation 91,437
Net profit carried down 404,762
$8,952,359

Interest on Investments—
From New Zealand Government stock.. 2,666,994
From local authorities stock 552,668
From mortgages 4,347,430
From other sources 1,064,656
Income from other sources 320,591
$8,952,359

PROFIT AND LOSS APPROPRIATION ACCOUNT
Provisions for donations 100,000
Transfer to reserve 438,658
$538,658
Net profit brought down 538,658
$538,658

BALANCE SHEET AS AT 31 MARCH 1979
Depositors’ Accounts—
Ordinary accounts 50,376,215
Thrift accounts.. 1,311,584
Special purpose accounts 7,292,893
Home lay-by accounts 62,701
Home and farm ownership accounts 2,161,425
61,204,818
Investment accounts, term deposits and housing bonds 48,648,126
Total liability to depositors 109,852,944
National savings accounts 113,446
Add interest suspense accounts 1,713
115,159

Other Liabilities—
Interest accrued on investment accounts and term deposits 2,089,326
Interest accrued on other depositors funds 19,139
Sundry creditors 158,855
Total other liabilities 2,267,320
Provision for donations 100,000
Provision for taxation 479,884
Reserve fund 3,751,875
$116,567,182

Current Assets—
Cash on hand and at bank 397,786
Fixed deposits 7,447,000
Interest accrued on investments 1,917,964
Taxation overpaid 62,557
Sundry debtors.. 252,238
Total current assets 10,077,545


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✨ LLM interpretation of page content

💰 Waikato Savings Bank Profit and Loss Account for the Year Ended 31 March 1979 (continued from previous page)

💰 Finance & Revenue
Banking, Financial Statements, Profit and Loss, Waikato Savings Bank
  • R. D. Reese, President
  • S. R. McRobie, General Manager
  • Hutchison, Hull and Co., Chartered Accountants

💰 Otago Savings Bank Profit and Loss Account for Year Ended 31 March 1976

💰 Finance & Revenue
Banking, Financial Statements, Profit and Loss, Otago Savings Bank