Consolidated Annual Report 2014

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED ANNUAL REPORT 2014 22 8 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Consolidated Statement of Cash Flows (Continued) For the year ended March 31, 2014 With comparative figures for 2013 (Expressed in Barbados dollars) Notes 2014 2013 Restated* Cash Flows from Financing Activities Net decrease in loans payable $ (10,510,003) (5,624,383) Issue of shares 521,400 418,440 Entrance fees received 21,725 17,435 Redemption of shares (41,520) (51,720) Distributions to members (1,888,408) (1,543,019) Net cash used in financing activities (11,896,806) (6,783,247) Net increase in cash and cash equivalents 3,320,738 15,922,282 Cash and cash equivalents, beginning of year 65,137,457 49,215,175 Cash and cash equivalents, end of year 9 $ 68,458,195 65,137,457 * See Note 2.4 (iii) The accompanying notes form an integral part of these consolidated financial statements.