2972
THE NEW ZEALAND GAZETTE
No. 132

The foregoing special order was passed at an ordinary meeting
of the Auckland Regional Authority held on 18 June 1984 and
confirmed at an ordinary meeting of the said authority held on 16
July 1984 having meantime been advertised in the Auckland Star
on 23 June 1984 and 4 July 1984.

The Common Seal of the Auckland Regional Authority was hereto
affixed in the presence of the chairman and secretary.

A. F. THOMAS, Chairman.
G. TYLER, Secretary.

9788

BAY OF PLENTY SAVINGS BANK
BALANCE SHEET AS AT 31 MARCH 1984

Current Assets: Note $ 1984 $ 1983
Cash resources 10,815,449 13,559,021
Income accrued 1,295,101 1,256,606
Accounts receivable 418,009 316,843
Current taxation — 10,455
12,528,559 15,142,925

Investments:
New Zealand
Government stock 2 61,101,051 49,179,984
Local authority
securities 189,714 432,789
Mortgages and term
loans 78,340,054 70,816,270
Personal loans/term
advances 3 4,913,213 3,582,953
Other investments 7,250,669 4,499,450
Associate company B 337,086 187,435
152,131,787 128,698,881

Fixed Assets: C
Land 97,632 77,082
Buildings 485,838 480,836
Furniture, fittings,
vehicles, office
equipment, etc. 583,470 557,918
1,798,871 1,355,257
$166,459,217 $145,197,063

Depositors’ Balances:
Current accounts 8,125,820 6,561,304
Ordinary accounts 49,295,733 46,546,041
Term investment
deposits E 100,769,700 85,059,082
158,191,253 138,166,427

Current Liabilities:
Interest accrued to
depositors 2,433,699 2,737,466
Mortgages (secured) 57,600 57,600
Accounts payable 773,191 562,899
Provision for
donations 100,000 85,000
Provision for taxation 256,200 —
3,620,690 3,442,965

Term Liabilities:
Mortgages (secured) 98,000 106,000

Other Liabilities:
Provision for deferred
taxation 4(b) 445,519 366,857
Reserve Fund 4,103,755 3,114,814
$166,459,217 $145,197,063

The notes to the accounts form part of and are to be read in
conjunction with this balance sheet.

REVENUE STATEMENT FOR THE YEAR ENDED 31 MARCH 1984

Income: $ 1984 $ 1983
Interest:
Government securities 6,074,637 4,541,085
Local authority securities 15,726 31,914
Mortgages and term loans 10,287,058 9,480,045
Personal loans 798,578 679,367
Cash resources 1,508,348 1,257,173
Other investments 1,063,247 750,377
19,736,494 16,740,161
Rents, commissions, fees, etc. 797,525 790,638
20,534,019 17,530,799

Less Expenditure:
Interest to depositors 12,550,321 11,020,542
Administration expenses 5,719,714 4,918,209
Depreciation (note 1) 276,389 174,694
Audit fees 16,723 15,796
Trustees’ honoraria 28,152 25,175
Net loss on disposal of investment
securities 17,441 —
18,608,740 16,154,616

Net Operating Profit Before Taxation (note 4(a)) 1,925,279 1,376,183
Less provision for taxation (note 4(b)) 858,288 592,020
Share of profit Associate company
(note B) 29,651 263
Prior year adjustment Associate
company — (15,021)
29,651 (14,758)
Net profit after Tax Including Results
of Associate Company 1,096,642 769,405
Less prior year taxation adjustment 7,701 (3,160)
1,088,941 772,565
Less provision for donations 100,000 85,000
988,941 687,565
Add Reserve Fund balance brought
forward 3,114,814 2,427,249
Reserve Fund as at 31 March $4,103,755 $3,114,814

The notes to the accounts form part of and are to be read in
conjunction with this revenue statement.

STATEMENT OF CHANGES IN FINANCIAL POSITION FOR THE YEAR
ENDED 31 MARCH 1984

Funds Were Received From: $ 1984 $
Net profit for year 1,096,642
Adjustments for items not involving
movement of funds:
Depreciation 276,389 —
Other 177 —
276,566 —
Increase in Depositors’ Funds 1,373,208
Investment Repayments: 20,024,826
Government securities 3,424,108 —
Local authority securities 343,075 —
Mortgages 13,642,386 —
Personal loans/terms advances 2,677,740 —
20,087,309 —
Deferred taxation 78,662 —
Decrease in working capital 2,769,390 —
$44,333,395 —

These Funds Were Applied To:
Investments:
Government securities 15,345,175 —
Local authority securities 100,000 —
Mortgages 21,166,170 —
Personal loans/term advances 4,008,000 —
Other lending (net) 2,751,219 —
Associate company 149,651 —
43,520,215 —
Donations 85,000 —
Reduction in term liabilities 8,000 —
Net capital expenditure 720,180 —
Increase in working capital — —
$44,333,395 —

Working capital increases (decreases):
Cash resources (2,743,572) —
Accounts receivable 101,166 —
Income accrued 38,495 —
Taxation (258,954) —
Accounts payable (210,292) —
Interest accrued to depositors 303,767 —
($2,769,390) —

J. D. HOLE, President.
P. D. MUNN, General Manager.

NOTES TO THE ACCOUNTS

A. Statement of Accounting Policies:
The general accounting principles recommended by the New
Zealand Society of Accountants for the measurement and reporting
of results on an historical cost basis, consistent with previous years,
have been used in the preparation of the financial accounts.
The following particular principles have been applied:

Note 1: Depreciation:
Straight-line depreciation has been applied to the Bank’s EDP
equipment to write it off over the period of its expected
useful life. All other assets have been depreciated at the
rates allowable by the Inland Revenue Department. The
difference between these rates, and the straight-line method,
is not considered to be material.