BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED
Notes to the Non-consolidated Financial Statements
For the year ended March 31, 2013
(Expressed in Barbados dollars)
49
25. Fair Value...(continued)
The following table below shows a reconciliation of all movements in the fair value of financial
investments categorized within Level 1 between the beginning and end of the reporting period.
2013
2012
Balance - beginning of year
$
1,345,000
1,525,000
Unrealised loss
(95,000) (180,000)
Balance - end of year
$ 1,250,000
1,345,000
The following table below shows a reconciliation of all movements in the fair value of financial
investments categorized within Level 3 between the beginning and end of the reporting period.
2013
2012
Balance - beginning of year
$
594,000
550,100
Purchases
10,710
43,900
Balance - end of year
$
604,710
594,000
26. Capital Management
The Credit Union’s objectives when managing capital, which is a broader concept than the ‘equity’ on
the face of the statement of financial position, are:
•
To comply with the capital requirements set by the regulators of financial institutions where the
Credit Union operates;
•
To safeguard the Credit Union’s ability to continue as a going concern so that it can continue to
provide returns to its shareholders and benefits for other stakeholders; and
•
To maintain a strong capital base to support the development of its business.
Capital adequacy and the use of regulatory capital are monitored daily by the Credit Union’s
management, employing techniques based on policies and guidelines regulated by the Co-operative
Societies Act.
The Credit Union’s approach to managing capital did not change during the period.
58
BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
ANNUAL REPORT 2013
