Page 102 - NIB Annual Report 12-13 | 13-14

TURKS AND CAICOS ISLANDS NATIONAL INSURANCE BOARD
Statement of Income, Expenses and Reserves
Year ended March 31, 2014
with comparative figures for year ended March 31, 2013
Income:
Contributions: Private sector Civil servants Self employed Voluntary
Surcharges (note 6(b))
Income from, and net gains on, available-for-sale
financial assets (note 13) Interest and other income (note 14)
Expenses:
Benefits (note 15)
General and administrative expenses (note 16) Investment expenses (note 17)
Net income before other comprehensive income Other comprehensive income (note 18)
Net income for year
Net income for year transferred to: Long-term benefit branch reserve Short-term benefit branch reserve Employment injury benefit reserve Disablement and death benefit reserve
See accompanying notes to financial statements.
US$
2014
21,989,629 1,201,220 672,657 6,655 23,870,161 434,134
5,166,136 492,366 29,962,797
(11,560,335) (4,586,419) (1,208,733)
(17,355,487)
12,607,310 9,218,322 21,825,632
15,286,026 2,553,424
(48,094) 4,034,276
21,825,632
2013
21,266,429 1,021,301 629,855 9,406 22,926,991 322,161
3,826,904
2,480,974 29,557,030
(13,884,286) (5,143,575) (1,231,608)
(20,259,469)
9,297,561
3,861,532 13,159,093
10,970,332 1,899,842 3,932,717
(3,643,798) 13,159,093
US$ US$
US$
98 | The National Insurance Board of The Turks and Caicos Islands
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