1730
THE NEW ZEALAND GAZETTE
No. 72

STATEMENT OF CHANGES IN FINANCIAL POSITION YEAR ENDED 31 MARCH 1981

Funds Were Received from—
Operations—
Net profit after tax .. .. .. .. .. .. .. $ 123,413 $ 225,981 $
Adjustments for items not involving the movement of funds:
Depreciation .. .. .. .. .. .. .. 72,239 195,652 278,148

Repayment of Principal—
Government securities .. .. .. .. .. .. .. 26,050 1,250,000
Local authority securities .. .. .. .. .. .. .. 2,896,003 2,038,400
Mortgages .. .. .. .. .. .. .. 661,129 398,433
Personal loans .. .. .. .. .. .. .. 3,583,182 3,777,516
Increase in other Liabilities and Provisions .. .. .. .. .. .. .. 8,415,793 4,611,531

$12,194,627  $8,667,195

These Funds Were Applied to—
Net Capital Expenditure
Land and buildings .. .. .. .. .. .. .. 111,595 64,450
Other assets .. .. .. .. .. .. .. 154,763 115,876

New Investments in—
Government securities .. .. .. .. .. .. .. 3,500,000 3,000,000
Local authority securities .. .. .. .. .. .. .. 93,750 402,099
Mortgages .. .. .. .. .. .. .. 7,099,853 5,004,320
Personal loans/visa/term loans .. .. .. .. .. .. .. 1,024,885 549,827

11,718,488  8,956,246

Net Increase (Decrease) In Cash—
Resources .. .. .. .. .. .. .. 154,696 (544,812)
Grants .. .. .. .. .. .. .. 30,000 30,000
Premium on Government stock .. .. .. .. .. .. .. 25,085 45,435

$12,194,627  $8,667,195

OTAGO SAVINGS BANK
PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1980

Interest to depositors—
On open accounts .. .. .. .. .. .. .. $ 1,452,638
Closed accounts, matured investment accounts and term deposits .. .. .. .. .. .. .. 2,674,766
Accrued on investment accounts and term deposits .. .. .. .. .. .. .. 2,938,024
Accrued on other depositors funds .. .. .. .. .. .. .. 15,081

7,080,509

Administrative expenses .. .. .. .. .. .. .. 3,173,270
Trustees’ honoraria .. .. .. .. .. .. .. 10,245
Depreciation .. .. .. .. .. .. .. 109,617
Provision for taxation .. .. .. .. .. .. .. 361,837
Net profit carried down .. .. .. .. .. .. .. 530,488

$11,265,966

Interest on Investments—
From New Zealand Government stock .. .. .. .. .. .. .. $ 3,373,481
From local authorities stock .. .. .. .. .. .. .. 716,692
From mortgages .. .. .. .. .. .. .. 5,701,774
From other sources .. .. .. .. .. .. .. 1,212,019
Income from other sources .. .. .. .. .. .. .. 262,000

$11,265,966

PROFIT AND LOSS APPROPRIATION ACCOUNT
Provision for donations .. .. .. .. .. .. .. 100,000
Transfer to reserve .. .. .. .. .. .. .. 430,488

$530,488

Net profit brought down .. .. .. .. .. .. .. 530,488

$530,488

OTAGO SAVINGS BANK
BALANCE SHEET AS AT 31 MARCH 1980

Depositors’ accounts—
Ordinary accounts .. .. .. .. .. .. .. $ 49,493,104
Thrift accounts .. .. .. .. .. .. .. 1,382,027
Special purpose accounts .. .. .. .. .. .. .. 7,583,893
Home lay-by accounts .. .. .. .. .. .. .. 47,982
Home and farm ownership accounts .. .. .. .. .. .. .. 3,329,761

61,836,767

Investment accounts, term deposits, and housing bonds .. .. .. .. .. .. .. 60,270,952

Total liability to depositors .. .. .. .. .. .. .. 122,107,719
National savings accounts .. .. .. .. .. .. .. 88,385
Add interest suspense accounts .. .. .. .. .. .. .. 1,744

90,129

Other liabilities—
Interest accrued on investment accounts and term deposits .. .. .. .. .. .. .. 2,938,024
Interest accrued on other depositors’ funds .. .. .. .. .. .. .. 15,080
Sundry creditors .. .. .. .. .. .. .. 193,852

Total other liabilities  ..  ..  ..  ..  ..  ..  ..  3,146,956
Provision for donations  ..  ..  ..  ..  ..  ..  ..  100,000
Provision for deferred taxation  ..  ..  ..  ..  ..  ..  ..  589,850
Reserve fund  ..  ..  ..  ..  ..  ..  ..  4,132,412

$130,167,066

Current assets—
Cash on hand and at bank .. .. .. .. .. .. .. $ 497,675
Fixed deposits .. .. .. .. .. .. .. 9,476,538
Interest accrued on investments .. .. .. .. .. .. .. 2,370,375
Taxation overpaid .. .. .. .. .. .. .. 23,805
Sundry debtors .. .. .. .. .. .. .. 57,845

Total current assets  ..  ..  ..  ..  ..  ..  ..  12,426,238