89 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2022 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2022 (Expressed in Barbados dollars) 58 22. Other Reserves, continued Special funds, continued (vii) Health and Disaster Relief Fund This Fund was established in September 2021 to provide a resource for credit unions members and staff who need financial assistance because of COVID-19 introduced hardships or a climate related disastrous event. The movement in special funds during the year is as follows: March 31, 2022 Balance at Amounts Amounts Balance Beginning Appropriated Utilised at End Social Outreach Fund $ 404,286 52,975 (226,397) 230,864 Education Fund 351,796 57,438 (262,284) 146,950 Development Fund 305,333 44,667 (23,167) 326,833 Health and Disaster Relief Fund - 250,000 - 250,000 BCCUL Training/Education Fund 50,000 50,000 (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 $ 1,521,415 815,080 (921,848) 1,414,647 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 Donated equity This amount totalling $26,909 (2021 - $26,909) represents the value of donations bestowed upon the Group on incorporation.
RkJQdWJsaXNoZXIy MTA2MDM=