ECCB 2014-2015 Annual Report and Statement of Accounts

EASTERN CARIBBEAN CENTRAL BANK

Eastern Caribbean Central Bank Notes to Consolidated Financial Statements March 31, 2015

(expressed in Eastern Caribbean dollars) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (express d in Eastern Caribbean dollars) March 31, 2015

11. Accounts receivable and prepaid expenses

11.

2015 $

2014 $

26,701,922 5,968,211 1,095,312

Prepaid expenses Accounts receivable Staff mortgage loans

13,942,988 5,182,846 1,527,245

Total accounts receivable and prepaid expenses

33,765,445

20,653,079

Current

11,618,713

12,754,629

Non-current

22,146,732

7,898,450

33,765,445

20,653,079

Staff mortgage loans accrue interest at a rate of 4% per annum and are secured by real estate property with variable repayment terms. As the loans are granted at a preferential interest rate, this has given rise to a short term employee benefit asset in the amount of $328,414 (2014: $471,935) at the statement of financial position date. This amount is included in prepaid expenses. Staff mortgage loans accrue interest at a rate of 4% per annum and are secured by real estate property with variable repayment terms. As the loans are granted at a preferential interest rate, this has given rise to a short term employee benefit asset in the amount of $328,414 (2014: $471,935) at the statement of financial position date. This amount is included in prepaid expenses.

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ECCB ANNUAL REPORT 2014/2015

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