Page 32 - NIB Annual Report 12-13 | 13-14

TURKS AND CAICOS ISLANDS NATIONAL INSURANCE BOARD
Statement of Income, Expenses and Reserves
Year ended March 31, 2013
with comparative figures for year ended March 31, 2012
Income:
Contributions (note 16): Private sector
Civil servants
Self employed Voluntary
Surcharges
Income from and net gains on available-for-sale
financial assets (note 17) Interest and other income (note 18)
Expenses:
Benefits (note 19)
General and administrative expenses (note 20) Investment expenses (note 21)
Change in fair value of investment property (note 12)
Net income before other comprehensive income Other comprehensive income (note 22)
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$
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
2012
21,740,812 1,296,154 404,960 11,804 23,453,730 554,645
4,866,008
1,490,402 30,364,785
14,859,801 5,689,750 1,205,953
100,000 21,855,504
8,509,281 (5,454)
8,503,827
9,244,639 1,567,441 212,913
(2,521,166) 8,503,827
US$ US$
US$
28 | The National Insurance Board of The Turks and Caicos Islands
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