Consolidated Annual Report 2019

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2019 70 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2019 (Expressed in Barbados dollars) 55 23. Other Reserves, continued Special funds, continued The movement in special funds during the year is as follows: March 31, 2019 Balance at Amounts Amounts Balance Beginning Appropriated Utilised at End Social Outreach Fund $ - 178,430 (178,430) - Education Fund 134,701 422,893 (385,943) 171,651 Development Fund 152,557 197,443 (128,342) 221,658 BCCUL Training/Education Fund - 50,000 (50,000) - BPWCCUL Foundation - 200,000 (200,000) - Small and Micro Business Fund 150,000 - - 150,000 National Development Fund - 60,000 (60,000) - Group Liability Insurance Fund 260,000 - - 260,000 $ 697,258 1,108,766 (1,002,715) 803,309 March 31, 2018 Balance at Amounts Amounts Balance Beginning Appropriated Utilised at End Social Outreach Fund $ 36,288 113,712 (150,000) - Education Fund 206,508 318,686 (390,493) 134,701 Development Fund 241,166 - (88,609) 152,557 BCCUL Training/Education Fund 50,000 - (50,000) - BPWCCUL Foundation - 200,000 (200,000) - Small and Micro Business Fund 150,000 - - 150,000 National Development Fund - 60,000 (60,000) - Group Liability Insurance Fund 260,000 - - 260,000 $ 943,962 692,398 (939,102) 697,258 Donated equity This amount totalling $26,909 (2018 - $26,909) represents the value of donations bestowed upon the Group on incorporation. Defined benefit plan This amount totalling ($546,240) (2018 - $1,001,965) represents the net amount of actuarial gains and losses and other items recognised directly in other comprehensive income on the Group’s defined benefit plan. (Note 15)