Non-Consolidated Annual Report 2019

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | NON-CONSOLIDATED ANNUAL REPORT 2019 45 BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED Notes to the Non-consolidated Financial Statements For the year ended March 31, 2019 (Expressed in Barbados dollars) 30 7. Operating Expenses 2019 2018 Anniversary expenses $ 163,756 248,118 Advertising 606,929 596,568 Affiliation 100,000 100,000 Audit fees 227,576 144,000 Bank charges 212,430 133,184 Committee travelling allowances 172,400 120,761 Development expenses 178,342 138,609 Direct cost of services 553,001 535,473 Educational grant and scholarship expenses 385,943 390,493 Elected Officials and Committee Training 498,115 357,938 Entertaining 32,640 63,687 Insurance 509,368 480,693 Janitorial services 487,479 407,044 Legacy Foundation – Donations 200,000 200,000 Legal and professional fees 770,386 617,982 Meetings and conferences 547,940 544,835 Membership security 3,054,140 2,853,476 Sundry expenses 34,831 18,186 National development expenses 60,000 60,000 Office stationery and supplies 1,140,964 1,046,090 Postage 92,590 168,835 Property taxes 291,757 234,049 Publicity and promotion 2,676,497 3,416,187 Rent 760,567 785,777 Repairs and maintenance 3,702,609 3,755,460 Security services 1,505,129 1,269,574 Social outreach expenses 178,430 150,000 Staff and members’ training 838,094 1,457,057 Utilities 1,510,083 1,347,356 $ 21,491,996 21,641,432 8. Distributions to Members Distributions to members include a dividend of $0.231 (2018 - $0.246) per share amounting to $511,058 (2018 - 479,140) and interest rebate amounting to $2,850,157 (2018 - $2,748,966).