2022
THE NEW ZEALAND GAZETTE
No. 85

New Zealand Government stock—
$ $
Cost price 41,169,903
Unamortised discount 88,277
$41,258,180

National Saving Securities—
New Zealand Government stock purchased at par.

AUDITORS' REPORT TO THE TRUSTEES OF THE SOUTHLAND SAVINGS BANK

We have obtained all the information and explanations that we have required. In our opinion, proper accounting records have been kept by the bank so far as appears from our examination of those records.

In our opinion, the financial statements, together with the notes to the accounts, give, using the historical cost method, a true and fair view of the financial position of the bank as at 31 March 1981, and the results of its business for the year ended on that date.

HUTCHISON, HULL & CO., Chartered Accountants.
Invercargill, 6 May 1981.

CANTERBURY SAVINGS BANK
PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1981

                                                                                                                                                                        $

Interest to Depositors—
On open accounts 4,014,678
Closed accounts and matured investment accounts 10,175,432
Accrued on accounts 9,647,666
23,837,776
Administration expenses 9,862,970
Trustees honoraria 29,790
Depreciation 1,016,348
Provision for taxation 1,567,740
Net profit 1,860,672
$38,175,296

Interest on Investments—
New Zealand Government Securities 11,628,535
Local Authority Stock 1,814,013
Mortgages 18,095,501
Other 5,758,138
Income from other sources 879,109
$38,175,296

APPROPRIATION ACCOUNT
$
Provision for donations 250,000
Transfer to reserves 1,610,672
$1,860,672

Net profit 1,860,672
$1,860,672

BALANCE SHEET AS AT 31 MARCH 1981
$ $
Depositors' accounts—
Current accounts 9,818,324
Ordinary accounts 154,745,702
Investment accounts 193,874,831
Total liability to depositors 358,438,857
Other liabilities—
Interest accrued on depositors' accounts 9,647,666
Sundry creditors 894,076
Total other liabilities 10,541,742
Deferred taxation 2,045,057
Provision for donations 250,000
Reserve fund 7,517,335
$378,792,991

Current assets—
$ $
Cash on hand and at bank 31,995,764
Interest accrued on investments 5,167,438
Sundry debtors 112,967
Taxation overpaid 221,140
Total current assets 37,497,309
Investments—
N.Z. Government securities 134,067,719
Local authority securities 20,033,796
Mortgages 167,658,580
Personal loans 9,995,762
Other advances 1,021,696
Total ordinary investment 332,777,553
Fixed assets—
Cost Depreciation Book
Price to Date Value
$ $ $
Land and buildings 5,919,347 590,145 5,329,202
Vehicles, equipment, furniture, etc. 5,693,633 2,504,706 3,188,927 8,518,129
$378,792,991

AUDITORS' REPORT

We have examined the accompanying balance sheet and profit statement of the Canterbury Savings Bank and have obtained all the information and explanations we have required. We are of the opinion that the balance sheet and profit statement give a true and fair view of the state of affairs of the bank as at 31 March 1981 and of the results of its business for the year ended on that date, in conformity with generally accepted accounting principles.

We have also examined the statement of changes in financial position which, in our opinion, gives a true and fair view of the changes in financial position of the bank for the year ended 31 March 1981.

GILFILLAN, MORRIS AND CO. Chartered Accountants,
Christchurch, 11 May 1981.

CONTENTS

Price $1.90
BY AUTHORITY: P. D. HASSELBERG, GOVERNMENT PRINTER, WELLINGTON, NEW ZEALAND—1981