59 SEPARATE FINANCIAL STATEMENTS 2023 Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Separate Financial Statements March 31, 2023 (expressed in Barbados dollars) 31 4 Other income 2023 $ 2022 $ Fee income 2,455,347 2,006,808 Legal income 1,030,549 1,191,798 Rental income 158,348 146,757 Bad debt recoveries 1,152,987 1,117,780 Dividend income 60,600 67,954 Gain on disposal of property and equipment 8,824 48,605 4,866,655 4,579,702 5 Expected credit losses Notes 2023 $ 2022 $ Loans and advances 11 4,838,664 6,648,132 Undrawn loan commitments 22 (101,488) (35,010) Financial investments 10 (3,240) (13,152) Term deposits 9 31,821 (101,634) 4,765,757 6,498,336 6 Staff costs Note 2023 $ 2022 $ Salaries 21,554,989 15,530,731 National Insurance Scheme contributions 1,622,847 1,573,340 Pension plan - defined benefit plan 13 (938,003) 709,626 Other costs 1,652,383 1,727,162 23,892,216 19,540,859
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