Consolidated Annual Report 2015

41 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED CONSOLIDATED ANNUAL REPORT 2015 BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2015 (Expressed in Barbados dollars) 28 10. Cash Resources 2015 2014 Cash $ 48,119,406 56,424,277 Short-term deposits 8,009,783 15,849,238 Cash balances maturing within 90 days 56,129,189 72,273,515 Other term deposits 48,467,389 46,428,600 Mandatory reserve deposits with Central Bank of Barbados 4,175,828 3,925,828 Total cash resources $ 108,772,406 122,627,943 Mandatory reserve deposits with the Central Bank are non-interest bearing and represent a subsidiaryʼs regulatory requirement to maintain a percentage of deposit liabilities as cash or deposits with the Central Bank. These non-interest bearing funds are not available to finance day-to-day operations and as such, are excluded from cash resources to arrive at cash and cash equivalents for the purpose of the statement of cash flows. At March 31, 2015, cash resources with the exception of mandatory reserve deposits with Central Bank carry interest rates varying from 0.50% to 5% per annum (2014 - 0.50% to 5%). For the purposes of the cash flow statements, cash and cash equivalents comprise: 2015 2014 Cash balances maturing within 90 days $ 56,129,189 72,273,515