Consolidated Annual Report 2016

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED CONSOLIDATED ANNUAL REPORT 2016 20 8 BARBADOS PUBLIC WORKERSʼ CO-OPERATIVE CREDIT UNION LIMITED Consolidated Statement of Cash Flows, continued For the year ended March 31, 2016 With comparative figures for 2015 (Expressed in Barbados dollars) Notes 2016 2015 Cash Flows from Financing Activities Net decrease in loans payable (11,023,612) (11,931,202) Issue of shares 727,200 584,280 Entrance fees received 30,300 24,345 Redemption of shares (83,640) (60,720) Distributions to members (2,038,109) (1,958,497) Net cash used in financing activities (12,387,861) (13,341,794) Net increase (decrease) in cash and cash equivalents 16,936,135 (16,144,326) Cash and cash equivalents, beginning of year 56,129,189 72,273,515 Cash and cash equivalents, end of year 10 $ 73,065,324 56,129,189 The accompanying notes form an integral part of these consolidated financial statements.