VPRS 10251 Financial Analysis Files

Full description

Rationing and Prices were originally a function of the Commonwealth Government as part of its defence responsibilities with State Deputy Prices Commissioners being appointed for each State under the National Security (Prices) Regulations 1939. This function, after a referendum, became one for the individual states in 1948. The Victorian Government passed the Prices Regulation Act 1948 to both control prices during the period of post-war readjustment and control the progressive removal of price control. A Minister in Charge of Prices was appointed from 1950 to 1955. Under the Act, Commonwealth officers could continue to be employed by the State for the purposes of the Act (S50) and to ensure continuity of administration of the function.

The files in this series consist of data gathered by the Victorian Prices Branch from a range of businesses to reach appropriate conclusions regarding the regulation and removal of control of prices and rates of goods and services. For this particular Section (Section F Finance) of the organisation this involved the gathering and analysis of the annual balance sheets of businesses. The Act gave the Prices Control Commissioner the right to obtain information as required for fulfilling his responsibilities (S49) with this being reinforced by the Regulations made under the Act detailing the types of information to be furnished by traders as published in the Government Gazette No 971 (October 27, 1948). The types of goods and services subject to price monitoring and control (and to Part III of the Act) were set out in the Schedule published under the Act.

The tabulation and preliminary analysis of the information in these returns can be seen in this series. The records in VPRS 12073 Group Review Files provide evidence of how these returns were aggregated to reach conclusions and make recommendations regarding goods and services which could be grouped together as they were in the Schedule.

Each file has two file numbers. It is hypothesised that the one in the top left corner structured as V.B.S. [File No] refers to the previous file of the corresponding Commonwealth Government Agency reporting to the Commonwealth Prices Commissioner (CA 287). The main file number, a running number, is that given by the Victorian agency from 1948. The cover of the file then gives the name of the firm and its address, with the remainder of the cover being taken up by columns for Action Taken, Date and Future Action. Files could be referred to other sections within the organisation. Some of the records of these Sections may be found in VPRS 10252 Correspondence Files.

Inside the cover of each file is pasted a standard sheet which once again gives the Name and Address of the business, a Trade Classification (an alphanumeric code); a Description of Business (e.g. Paint Manufacturer, Milk Carter) and the Balancing Date. Tabulated are figures giving the summary details for the business assets and liabilities for each year from 1939 to 1954. These standard pro forma appear to have been inherited from the previous Commonwealth agency and contain details gathered by that agency. All files contain an Annexure A which tabulates and analyses the Cost of Sales for the business.

A number of files, particularly those created in later years, contain a printed statement completed by an officer of the Branch summarising the financial position of the business and the sources of the information in the financial analysis, with a recommendation regarding whether this data and firm was to be included in the Group Review and which one of those Group Reviews. Group Reviews are contained in VPRS 12073 Group Review Files and summaries of Group Reviews for 1948 to 1950 in VPRS 12078 Summary of Group Reviews.

Other files contain copies of correspondence relating to the forwarding of returns and the payment or withholding of subsidies under the Prices Stabilisation Plan.