Consolidated Annual Report 2015

21 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED CONSOLIDATED ANNUAL REPORT 2015 8 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Consolidated Statement of Cash Flows For the year ended March 31, 2015 With comparative figures for 2014 (Expressed in Barbados dollars) Notes 2015 2014 Cash Flows from Financing Activities Net decrease in loans payable (11,931,202) (10,510,003) Issue of shares 584,280 521,400 Entrance fees received 24,345 21,725 Redemption of shares (60,720) (41,520) Distributions to members (1,958,497) (1,888,408) Net cash used in financing activities (13,341,794) (11,896,806) Net (decrease) increase in cash and cash equivalents (16,144,326) 7,136,058 Cash and cash equivalents, beginning of year 72,273,515 65,137,457 Cash and cash equivalents, end of year 10 $ 56,129,189 72,273,515 The accompanying notes form an integral part of these consolidated financial statements.