Page 107 - NIB Annual Report 12-13 | 13-14

TURKS AND CAICOS ISLANDS NATIONAL INSURANCE BOARD
Statement of Cash Flows
Year ended March 31, 2014
with comparative figures for year ended March 31, 2013
Cash flows from operating activities:
Net income for year Adjustments for:
Gain on sale of property and equipment Change in fair value of TCIG bonds (note 14) Depreciation of property and equipment Interest income
Investment expenses on available-for-sale
financial assets (note 17)
Income from, and net gains on, available-for-sale
financial assets
Change in market value of
available-for-sale financial assets
Changes in operating assets:
Change in contributions and other receivables
Change in other assets
Changes in operating liabilities:
Change in accounts payable and accrued expenses
Net cash from operating activities
Cash flows from investing activities:
Proceeds from sale of property and equipment Additions to property and equipment
Net additions to available-for-sale financial assets Net proceeds from available-for-sale financial assets Interest income received
Proceeds from partial repayment of TCI Investment Agency Ltd. loans
Proceeds from partial repayment of TCIG bonds Net change in short-term investments
Proceeds from sale of investment property Repayment of TCI Bank loan
Change in long-term deposits – gross Proceeds from repayment of TCIG loan Net cash from investing activities
Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year
See accompanying notes to financial statements.
US$
2014
21,825,632
(8,345) 20,776 297,678
(364,321) 1,040,046
(5,166,136)
(9,218,322) 8,427,008
558,510 1,245
(300,690) 8,686,073
8,345 (256,133) (67,075,967)
67,266,276 1,433,816
377,248 150,000 – – – – – 1,903,585
10,589,658 34,315,837 44,905,495
2013
13,159,093
(3,875) 20,776 271,018
(1,979,580) 982,126
(3,826,904)
(3,861,532) 4,761,122
3,320,002 (6,079)
(5,559,418) 2,515,627
7,070 (1,531,629) (13,293,070)
3,898,213 1,484,150
363,078
150,000 6,044,996 5,900,000 5,500,000 3,470,498
385,000 12,378,306
14,893,933 19,421,904 34,315,837
US$
2013 & 2014 ANNUAL REPORT |103 11