Non-Consolidated Annual Report 2016

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED NON-CONSOLIDATED ANNUAL REPORT 2016 23 7 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Non-consolidated Statement of Cash Flows For the year ended March 31, 2016 With comparative figures for 2015 (Expressed in Barbados dollars) Note 2016 2015 Cash Flows from Financing Activities Net decrease in loans payable (11,161,817) (10,243,341) 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 (12,526,066) (11,653,933) Net increase (decrease) in cash and cash equivalents 4,571,065 (8,152,886) Cash and cash equivalents, beginning of year 44,940,484 53,093,370 Cash and cash equivalents, end of year 9 $ 49,511,549 44,940,484 The accompanying notes form an integral part of these non-consolidated financial statements.