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Eastern Caribbean Central Bank
Statement of Cash Flows
For the year ended March 31, 2017
(expressed in Eastern Caribbean dollars)
10
2017
$
2016
$
Cash flows from operating activities
Net profit (loss) for the year
6,321,187
(10,014,002)
Adjustments for:
Depreciation
4,918,712
4,724,840
Amortisation
1,531,044
2,032,661
Gain on disposal of available-for-sale securities
(827,468)
(3,314,912)
Share of profit of associates
(986,035)
(1,077,879)
Effect of changes in market value of money market instruments
125,142
9,429
Net pension cost during the year
2,616,000
2,334,000
Impairment loss on financial assets
-
1,315,109
Gain on dissolution of subsidiary
-
(11,544)
Recovery on impaired receivables
(60,000)
-
Receipt of equity in ECACHSI
(202,500)
-
Interest income
(56,254,935)
(42,065,214)
Interest expense
581,671
161,353
Cash flows used in operations before changes in operating assets and
liabilities
(42,237,182)
(45,906,159)
Changes in operating assets and liabilities
Decrease in term deposits
6,027
942,801
Increase in money market instruments
(165,931,448)
(189,745,843)
Decrease in loans and receivables -
participating governments’
securities
10,380,262
13,994,990
Decrease in loans and receivables -
participating governments’
advances
14,986,452
12,006,296
Decrease (increase) in accounts receivable and prepaid expenses
3,955,039
(261,873)
Decrease in financial assets held for trading
106,804
4,249,663
(Decrease) increase in financial liabilities held for trading
(5,494,616)
4,629,792
Contributions to pension scheme
(2,289,000)
(2,332,000)
(Decrease) increase in demand and deposit liabilities - domestic and
foreign
(6,624,351)
664,715,229
Increase (decrease) in IMF government general resource accounts
50,206
(4,138)
Cash (used in) from operations before interest
(193,091,807)
462,288,758
Interest paid
(581,671)
(161,398)
Interest received
57,255,020
42,943,825
Net cash (used in) from operating activities
(136,418,458)
505,071,185
Cash flows from investing activities
Purchase of property, plant and equipment
(1,810,732)
(1,531,837)
Purchase of intangible assets
(881,061)
(201,039)
Proceeds from disposal of available-for-sale securities
4,115,242,833
4,722,641,095
Purchase of available-for-sale-foreign investment securities
(4,232,720,338)
(5,036,447,795)
Dividends received from associates
501,090
501,090
Net cash used in investing activities
(119,668,208)
(315,038,486)
Net (decrease) increase in cash and cash equivalents
(256,086,666)
190,032,699
Cash and cash equivalents, beginning of year
1,538,644,069
1,348,611,370
Cash and cash equivalents, end of year
(note 24)
1,282,557,403
1,538,644,069
The notes on pages 11 to 92 are an integral part of these financial statements.
74
ECCB ANNUAL REPORT 2016/2017
EASTERN CARIBBEAN CENTRAL BANK
STATEMENT OF CASH FLOWS
(expressed in Eastern Caribbean dollars)
For the year ended March 31, 2017
he t s ages 75 to 156 are a integral part of these fin ncial statements.