7 NOVEMBER THE NEW ZEALAND GAZETTE 4889

TARANAKI SAVINGS BANK

BALANCE SHEET AS AT 31 MARCH 1985

Depositors' Accounts—
Savings accounts 61,918,895 69,793,897
Personal cheque 23,488,100 10,349,245
Cash investment 2 76,202,143
Total depositors' balance 92,473,980 177,880,975

Other Current Liabilities—
Interest on term investment accounts 2,332,594 1,856,574
Sundry creditors 662,053 881,720
Provision for taxation 518,866 505,101
Total other current liabilities 3,513,513 3,243,395
Provision for donations 200,000 130,000
Deferred taxation 1,307,350 1,144,959

Term Liability—
Housing Corporation of NZ 897,630 -
Reserve Fund 9,327,555 7,143,142
$193,111,023 $168,644,640

Current Assets—
Cash on hand and at bank 3,135,656 1,485,592
Cash deposits 14,134,848 5,545,500
Accrued interest on investments 2,212,019 2,045,364
Sundry debtors 173,869 175,970
Total current assets 19,656,392 9,252,426

Investments—
New Zealand Government stock 66,097,898 64,813,898
Less discount not yet amortised 611,499 738,297
65,486,399 64,075,601
Local authority stock at cost 158,623 -
Mortgages 90,169,200 81,227,919
Personal loans less unearned interest 5,265,616 4,220,486
Overdrafts 1,033,202 681,209
TrusteeBank Visa outstanding 2,023,226 1,208,354

Associate company—
TrusteeBank Computer Ltd. 841,380 -

Total investments 164,977,646 151,890,543

Fixed Assets—
Land 856,407 727,094
Buildings 5,748,482 5,195,339
Vehicles, office equipment and furniture 3,764,287 3,100,046
Less depreciation to date 10,369,176 9,022,479
8,476,985 7,501,671

The attached notes form part of and are to be read in conjunction with these accounts.

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1985

Income—
Interest from:
Government securities 8,911,166 6,892,164
Local authority securities 38,921 20,144
Mortgages 11,883,829 10,766,823
Personal loans 857,216 640,774
Other investments 2,017,887 1,532,682
Rents, commissions, fees, etc. 1,150,806 1,038,028
Share of income of associate company 34,294 29,651
Profit on sale of property - 70,396
24,896,119 20,990,662

Less Expenditure—
Interest to depositors 13,644,430 11,205,504
Administrative expenses 5,547,887 5,295,480
Trustees' honoraria 28,625 27,573
Loss on sale of securities 992,309 937,699
Depreciation 398,990 361,527
20,612,241 17,827,783

Operating profit 4,283,878 3,162,879
Less taxation 1,900,000 1,350,000
Net profit for year 2,383,878 1,812,879
Less provisions for donations 200,000 150,000

Add donation provision balance 183,878 1,662,879
Add reserve fund brought forward 7,143,142 5,475,818
Reserve fund as at 31 March 1985 $9,327,555 $7,143,142