Non-Consolidated Annual Report 2017

25 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | NON-CONSOLIDATED ANNUAL REPORT 2017 10 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Non-consolidated Statement of Cash Flows For the year ended March 31, 2017 With comparative figures for 2016 (Expressed in Barbados dollars) Note 2017 2016 Cash Flows from Financing Activities Net decrease in loans payable (16,965,939) (11,161,817) Issue of shares 774,240 727,200 Entrance fees received 32,260 30,300 Redemption of shares (97,920) (83,640) Distributions to members (2,636,325) (2,038,109) Net cash used in financing activities (18,893,684) (12,526,066) Net increase in cash and cash equivalents 1,644,235 4,571,065 Cash and cash equivalents, beginning of year 49,511,549 44,940,484 Cash and cash equivalents, end of year 9 $ 51,155,784 49,511,549 The accompanying notes form an integral part of these non-consolidated financial statements.