63 SEPARATE FINANCIAL STATEMENTS 2025 Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Separate Financial Statements March 31, 2025 (expressed in Barbados dollars) 31 7 Operating expenses 2025 $ 2024 $ Anniversary expenses 261,242 166,747 Advertising 654,176 468,353 Affiliation 100,000 100,000 Amortisation of deferred expenses 806 273 Audit fees 625,002 894,337 Bank charges 317,023 729,450 Committee travelling allowances 183,327 186,497 Development expenses 85,000 157,333 Direct cost of services 5,683,329 3,924,583 Education grant and scholarship expenses 265,425 213,750 Elected Officials and Committee Training 294,932 342,040 Entertaining 9,618 6,039 Insurance 703,395 549,254 Janitorial services 951,601 935,424 Legacy Foundation - Donations 300,000 500,000 Legal and professional fees 1,878,476 2,383,304 Meetings and conferences 1,111,497 900,813 Membership security 5,586,082 5,818,959 Sundry expenses 36,766 4,898 National development expenses 60,000 60,000 Office stationery and supplies 1,014,722 768,867 Postage 68,440 153,481 Property taxes 433,941 342,003 Publicity and promotion 4,143,830 2,716,040 Regulatory fees 500,000 500,001 Rent 662,975 453,011 Repairs and maintenance 6,829,340 6,409,965 Security services 1,867,474 2,179,546 Social outreach expenses 113,950 226,609 Staff and members’ training 410,397 395,382 Utilities 1,546,325 1,587,107 36,699,091 34,074,066
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