ECCB 2022-2023 Annual Report and Financial Statements

Eastern Caribbean Central Bank Notes to the Financial Statements For the year ended 31 March 2023 (Expressed in Eastern Caribbean dollars)

30. Net impairment losses on financial assets

During the financial year, the following losses (gains) were recognised in the statement of profit or loss in relation to impaired financial assets

2023 $

2022 $

Impairment loss on financial assets at FVOCI Impairment loss on financial assets at amortised cost

190,098 22,058

40,276 12,437

Impairment loss on receivables

6,344,421

1,412,497 (270,337)

(80,933)

Reversal of previous impairment losses on financial assets

6,475,644

Net impairment losses on financial assets

1,194,873

31. Administrative and general expenses

2023 $

2022 $

General supplies and services

8,573,083 5,752,738 2,434,902

11,426,058 7,261,836 2,321,477 1,247,940 1,125,276 1,066,746 1,040,903 1,005,655

Professional, legal and consulting fees

Special projects

Repairs and maintenance

517,289

Contribution to Eastern Caribbean Securities Regulatory Commission

1,100,778

Utilities expenses Travel expenses

990,147

9,733

Training, recruitment and resettlement

914,512 223,388 823,071 841,054 490,664 167,148 338,588 294,276 233,820 198,481 151,278 63,409 35,377 12,866 16,327

Conference and meetings

965,125 864,097 684,087 658,089 576,999 400,029 374,597 238,450 201,976 141,249 109,786 72,695 29,427 22,640

Telephone expense Insurance expense

Service grant

Other staff expenses and amenities

Subscriptions and fees Community outreach

Rental expense Affiliate groups

Public education and communication

Other expenses

Contribution to staff association Printing and postage expenses Directors' travel and other expenses

Advertising and promotion

6,342

1,242

24,189,271

Total administrative and general expenses

31,836,379

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