2 JULY
THE NEW ZEALAND GAZETTE
1863

WANGANUI SAVINGS BANK
BALANCE SHEET AS AT 31 MARCH 1981

Liabilities
1981 $
1980 $

Depositors accounts—
Savings .. .. 21,482,059
19,143,124
Personal cheque .. 1,786,052
1,546,271
Investment accounts .. 19,945,698
16,418,112
Housing bonds .. 791,660
89,810
Accrued interest .. 565,193
433,708

Total liability to depositors: 44,570,662
37,631,025

Current liabilities:
Sundry creditors .. 101,558
72,493
Provisions for donations .. 30,000
20,000
Provision for taxation (note 6) .. 55,980
..
Mortgages (secured) .. 7,400
57,400

Total current liabilities: 194,938
149,893

Other liabilities:
Mortgages (secured) .. 126,825
89,225
Provision for deferred taxation (note 7) .. 264,668
187,408

Total other liabilities: 391,493
276,633

Reserve Fund:
Balance 31 March 1980 379,806
310,697
Add balance of appropriation account .. 254,950
69,108

Balance 31 March 1981 634,756
379,805
Property revaluation .. 133,934
133,934

768,690
513,739

$45,925,783
$38,571,290

Assets
1981 $
1980 $

Current assets:
Cash on hand and at bank .. 494,253
286,466
Fixed deposit and short term investment 1,748,000
1,558,000
Interest accrued on investments .. 536,932
498,358
Sundry debtors and prepayments .. 105,687
65,424
Stationery on hand .. 56,418
41,617
Taxation refund .. ..
8,310

Total current assets: 2,941,290
2,458,175

Investments:
Government stock (note 2) .. 16,075,681
13,408,762
Local authorities .. 470,900
440,900
Mortgages .. 23,430,190
20,654,412
Personal loans .. 1,809,438
737,471
Shares NTC bank .. 169,244
..
Depositors overdrafts .. 119,864
..

Total investments: 42,075,317
35,241,545

Fixed Assets: (at cost or valuation)
Land .. 190,976
198,872
Bldg and improvements .. 465,699
..
Less depreciation to date 87,754
377,945
342,227
Vehicles .. 43,411
61,198
Less depreciation to date 9,526
33,885
26,730
Office equipment 355,694
..
Less depreciation to date 112,007
243,687
242,543

909,176
871,570

$45,925,783
$38,571,290

To be read in conjunction with the notes to the accounts which form part of the Financial Statements.

J. S. FRAME, President.
N. N. PHILLIPS, General Manager.

WANGANUI SAVINGS BANK
REVENUE ACCOUNT FOR YEAR ENDED 31 MARCH 1981

1981 $
1980 $

Income:
Investment Income—
New Zealand Government stock .. .. .. .. .. 1,380,934
1,143,248
Local authority stock .. .. .. .. .. 34,887
21,916
Mortgages .. .. .. .. .. 2,814,199
1,933,523
Personal loans .. .. .. .. .. 227,871
90,836
Fixed and call deposits .. .. .. .. .. 268,386
322,867

Total Investment Income .. .. .. .. .. 4,726,277
3,512,390

Other Income—
Sundry income .. .. .. .. .. 199,454
175,490

Total Income .. .. .. .. .. 4,925,731
3,687,880

Less Expenditure—
Interest on Depositors Accounts—
Savings paid and credited .. .. .. .. .. 803,728
596,916
Investment—paid and accrued .. .. .. .. .. 1,926,410
1,459,672

Total Interest .. .. .. .. .. 2,730,138
2,056,588

Other Expenses—
Audit fees .. .. .. .. .. 12,902
10,000
Depreciation .. .. .. .. .. 79,453
60,188
Management and staff expenses .. .. .. .. .. 1,013,170
863,558
General operating expenses .. .. .. .. .. 489,235
342,524
Office equipment expenses .. .. .. .. .. 36,046
97,805
Promotional expenses .. .. .. .. .. 77,115
56,282
Property expenses .. .. .. .. .. 56,575
33,906
Trustees fees .. .. .. .. .. 12,675
9,487

Total other expenses .. .. .. .. .. 1,777,171
1,475,750

Total expenditure .. .. .. .. .. 4,507,309
3,532,338