3108 THE NEW ZEALAND GAZETTE No. 132

Less Liabilities:
Depositors’ Funds
Savings accounts $ 49,716,034 $ 57,837,758
Cheque accounts 14,838,348 9,105,956
Term investments 129,461,392 96,548,006
Depositors’ balances 194,015,774 163,491,720
Add: Accrued interest 4,176,868 3,098,163
198,192,642 166,589,883
Less: Items in transit 1,226,585 812,907
Net liability to depositors 196,966,057 165,776,976

Current Liabilities
Provision for donations 90,000 80,000
Sundry creditors 528,680 560,155
Provision for current taxation .. 813,636
Less: Provisional tax paid .. (621,460)
618,680 832,331

Term Liabilities
Provision for deferred taxation 1,066,372 526,800
Housing Corporation of New Zealand 943,459 764,382
2,009,831 1,291,182
Total Liabilities 199,594,568 167,900,489
Excess of assets over liabilities $6,997,071 $5,790,668

Represented by—
Retained earnings 1/4/84 5,060,881 4,210,922
Add: Transferred from Profit Statement 1,017,288 849,959
Retained earnings 31/3/85 6,078,169 5,060,881
Property Revaluation Reserve 1/4/84 654,615 367,049
Add: Net Revaluation for year 181,122 287,566
Special reserve term and personal loans 83,165 75,172
Total Reserve Fund $6,997,071 $5,790,668

                                                                                           S. J. CUSHING, President.
                                                                                           E. ROBERTSON, Genéal Manager.

EASTERN AND CENTRAL TRUSTEEBANK
STATEMENT OF CHANGES IN FINANCIAL POSITION YEAR ENDED 31 MARCH 1985

Funds were provided:
From Operations
Tax paid profits $ 1,115,231 $ 960,935
Adjustment for items not involving movement of funds:
Depreciation 360,253 312,124
Less: Investment amortisation 139,765 (155,088)
Total funds from operations 1,335,719 1,117,971

From Other Sources:
Increase in depositors balances 31,189,081 24,009,673
Repayments of Principal—
New Zealand Government and Local Authority Stock 4,891,986 15,123,317
Mortgages 12,308,247 12,177,031
Term and personal loans 6,415,829 5,367,671
Increase in deferred taxation provision 539,572 (47,343)
Increase in long term borrowing 179,077 (214,509)
56,859,511 57,533,811

Funds were applied to:
New Investments in—
—New Zealand Government and Local Authority Stock 15,811,148 29,144,161
—Mortgages 24,479,283 19,099,616
—Overdraft Advances and Trusteebank Visa (net) 985,134 927,260
—Term and personal loans 8,014,689 9,839,068
Fixed assets additions (net) 729,237 478,429
Provision for donations (net) 89,950 79,931
Trusteebank Travel Shoppe 73,000 ..
Increase in working capital 6,677,070 (2,034,654)
$56,859,511 $57,533,811