Consolidated Annual Report 2019

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2019 25 10 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Consolidated Statement of Cash Flows, continued For the year ended March 31, 2019 With comparative figures for 2018 (Expressed in Barbados dollars) Notes 2019 2018 Cash Flows from Financing Activities Net decrease in loans payable $ (1,709,622) (7,093,367) Issue of shares 800,640 730,080 Entrance fees received 33,360 30,420 Redemption of shares (105,840) (108,000) Distributions to members (3,361,215) (3,228,106) Net cash used in financing activities (4,342,677) (9,668,973) Net increase in cash and cash equivalents 103,260,482 44,586,068 Cash and cash equivalents, beginning of year 112,849,056 68,262,988 Cash and cash equivalents, end of year 11 $ 216,109,538 112,849,056 The accompanying notes form an integral part of these consolidated financial statements.