77 CONSOLIDATED FINANCIAL STATEMENTS 2025 Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Consolidated Financial Statements March 31, 2025 (expressed in Barbados dollars) 39 11 Cash Resources 2025 $ 2024 $ Cash on hand 427,574,499 395,427,726 Cash and cash equivalents 427,574,499 395,427,726 Term deposits 24,631,759 20,291,821 Mandatory reserve deposits with Central Bank of Barbados 8,748,701 8,748,701 Total cash resources 460,954,959 424,468,248 Less: expected credit loss allowance (88,947) (80,635) Balance at end of year 460,866,012 424,387,613 The average effective yield on cash resources during the year was 0.08% (2024 - 0.46%). The movement in expected credit loss allowance is as follows: 2025 $ 2024 $ Balance at beginning of year 80,635 72,225 Expected credit loss on other term deposits 8,312 8,410 Balance at end of year 88,947 80,635 At March 31, 2025, $88,947 (2024 - $80,635) of the expected credit losses relates to term deposits classified as stage 1. Mandatory reserve deposits with the Central Bank are non-interest bearing and represent a CAPITA Financial Services Inc.’s regulatory requirement to maintain a percentage of deposit liabilities as cash or deposits with the Central Bank. These non-interest bearing funds are not available to finance day-to-day operations and as such, are excluded from cash resources to arrive at cash and cash equivalents for the purpose of the consolidated statement of cash flows. At March 31, 2025, cash resources with the exception of mandatory reserve deposits with Central Bank of Barbados carry interest rates varying from 0.0% to 4.5%per annum (2024 - 0.0% to 4.5%).
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