ECCB 2017-2018 Annual Report and Statement of Accounts

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ECCB ANNUAL REPORT 2017/2018

(expressed in Eastern Caribbean dollars) For the year ended March 31, 2018 (expressed in Eastern Caribbean dollars) Eastern Caribbean Central Bank Statement of Cash Flows

EASTERN CARIBBEAN CENTRAL BANK STATEMENT OF CASH FLOWS

For the year ended March 31, 2018

2018 $

2017 $

Cash flows from operating activities Net profit for the year

10,765,278

6,321,187

Adjustments for: Depreciation Amortisation

5,080,073 1,270,631 6,258,867 (1,438,502) 99,950 1,353,000 (36,548) (75,131) (73,214,304) 2,538,217 - 2,293,965 10,353,379 (9,733,823) (2,582,143) 3,959,132 (517,687) (482,273) (2,206,000) (47,398,469)

4,918,712 1,531,044 (827,468) (986,035) 125,142 2,616,000

Loss (gain) on disposal of available-for-sale securities

Share of profit of associates

Effect of changes in market value of money market instruments

Net pension cost during the year

Gain on disposal of property, plant and equipment Recovery on impaired receivables

-

(60,000) (202,500) (56,254,935)

Receipt of equity in ECACHSI

Interest income Interest expense

581,671

Cash flows used in operations before changes in operating assets and liabilities Changes in operating assets and liabilities Decrease in term deposits Decrease (increase) in money market instruments (Increase) decrease in loans and receivables - participating governments’ securities (Increase) decrease in loans and receivables - participating governments’ advances Decrease in accounts receivable and prepaid expenses (Increase) decrease in financial assets held for trading Decrease in financial liabilities held for trading Increase (decrease) in demand and deposit liabilities - domestic and foreign Increase in IMF government general resource accounts Contributions to pension scheme

(42,237,182)

6,027

(165,931,448)

10,380,262 14,986,452 3,955,039 106,804 (5,494,616) (2,289,000) (6,624,351)

123,783,012

29,481

50,206

77,498,574 (2,236,637) 70,543,915 145,805,852

Cash from (used in) operations before interest

(193,091,807) (581,671) 57,255,020 (136,418,458)

Interest paid Interest received

Net cash from (used in) operating activities

Cash flows from investing activities

(4,283,741) (1,980,970)

Purchase of property, plant and equipment Purchase of intangible assets Proceeds from disposal of property, plant and equipment Proceeds from disposal of available-for-sale securities Purchase of available-for-sale-foreign investment securities

(1,810,732) (881,061)

57,240

-

3,797,434,225

4,115,242,833

(4,048,130,233) (4,232,720,338)

501,090

Dividends received from associates

501,090

Net cash used in investing activities Net decrease in cash and cash equivalents Cash and cash equivalents, beginning of year Cash and cash equivalents, end of year (note 24)

(256,402,389) (110,596,537) 1,282,557,403 1,171,960,866

(119,668,208) (256,086,666) 1,538,644,069 1,282,557,403

The notes on pages 78 to 162 are an integral part of these financial statements. The notes on pages 11 to 95 are an integral part of these financial statements .

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