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BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
CONSOLIDATED ANNUAL REPORT 2015
BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED
Notes to the Consolidated Financial Statements
For the year ended March 31, 2015
(Expressed in Barbados dollars)
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10. Cash Resources
2015
2014
Cash
$ 48,119,406
56,424,277
Short-term deposits
8,009,783 15,849,238
Cash balances maturing within 90 days
56,129,189 72,273,515
Other term deposits
48,467,389
46,428,600
Mandatory reserve deposits with Central Bank of Barbados
4,175,828 3,925,828
Total cash resources
$ 108,772,406 122,627,943
Mandatory reserve deposits with the Central Bank are non-interest bearing and represent a subsidiaryʼs
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 statement
of cash flows.
At March 31, 2015, cash resources with the exception of mandatory reserve deposits with Central Bank
carry interest rates varying from 0.50% to 5% per annum (2014 - 0.50% to 5%).
For the purposes of the cash flow statements, cash and cash equivalents comprise:
2015
2014
Cash balances maturing within 90 days
$ 56,129,189
72,273,515
