BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2021 84 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2021 (Expressed in Barbados dollars) 58 22. Other Reserves, continued Special funds, continued The movement in special funds during the year is as follows: March 31, 2021 Balance at Amounts Amounts Balance Beginning Appropriated Utilised at End Social Outreach Fund $ 129,786 450,315 (175,815) 404,286 Education Fund 183,852 375,263 (207,319) 351,796 Development Fund 346,500 - (41,167) 305,333 BCCUL Training/Education Fund - 50,000 - 50,000 BPWCCUL Foundation - 300,000 (300,000) - Small and Micro Business Fund 150,000 - - 150,000 National Development Fund - 60,000 (60,000) - Credit Union Liability Insurance Fund 260,000 - - 260,000 $ 1,070,138 1,235,578 (784,301) 1,521,415 March 31, 2020 Balance at Amounts Amounts Balance Beginning Appropriated Utilised at End Social Outreach Fund $ - 332,518 (202,732) 129,786 Education Fund 171,651 356,269 (344,068) 183,852 Development Fund 221,658 128,342 (3,500) 346,500 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) - Credit Union Liability Insurance Fund 260,000 - - 260,000 $ 803,309 1,127,129 (860,300) 1,070,138 Donated equity This amount totalling $26,909 (2020 - $26,909) represents the value of donations bestowed upon the Group on incorporation. Defined benefit plan This amount totalling ($271,016) (2020 – ($214,667)) 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)
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