Consolidated Annual Report 2018

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2018 25 10 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Consolidated Statement of Cash Flows, continued For the year ended March 31, 2018 With comparative figures for 2017 (Expressed in Barbados dollars) Notes 2018 2017 Cash Flows from Financing Activities Net decrease in loans payable (7,093,367) (18,688,165) Issue of shares 730,080 774,240 Entrance fees received 30,420 32,260 Redemption of shares (108,000) (97,920) Distributions to members (3,228,106) (2,636,325) Net cash used in financing activities (9,668,973) (20,615,910) Net increase (decrease) in cash and cash equivalents 44,586,068 (4,802,336) Cash and cash equivalents, beginning of year 68,262,988 73,065,324 Cash and cash equivalents, end of year 10 $ 112,849,056 68,262,988 The accompanying notes form an integral part of these consolidated financial statements.