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TURKS AND CAICOS ISLANDS NATIONAL INSURANCE BOARD
Notes to Financial Statements, continued Year ended March 31, 2013
24. Related party balances and transactions, continued TCI Bank balances
Interest receivable (gross of change in fair value) US$ Investment (before change in fair value) US$
Long-term deposits (gross of change in fair value) US$ Change in fair value of assets held with TCI Bank US$ Debenture loan US$ Unpaid liquidator’s costs regarding debenture loan US$
TCIG transactions
Proceeds from sale of Hon. N.J.S. Francis Building US$
Payment of interest on unpaid employment
injury benefits in prior years (note 19) US$
Collection of contributions US$
Contributions – private sector US$
Payment for acquisition of
Hon. Headley Durham Building US$
Contributions – civil servants US$ Interest received on unpaid rent in prior years US$ Interest income US$ Rent income US$ Proceeds from sale of furniture and fixtures US$ Repayment of Treasury bond US$ Payment for lease of crown land US$ Surcharges forgiven due to amnesty (note 16) US$ Employment injury benefit expense US$ Change in fair value of note receivable US$
TCIG balances
Treasury bonds – at par US$ Interest receivable US$ Claims payable US$ Rent receivable US$ Note receivable (gross of change in fair value) US$
Contributions receivable US$
2013
1,215,108 2,000,000
13,881,993 (9,814,407)
– 300,000
5,900,000
(3,150,000) 3,073,711 2,015,033
(1,257,808) 1,021,301 900,410 756,721 496,240 385,000 150,000
(70,000) –
– –
1,200,000 11,461 – – –
–
2012
307,360 2,000,000
17,352,491 (9,814,407)
5,500,000 300,000
–
– 4,207,724 2,366,321
– 1,296,154 – 296,982 656,358 – 150,000 – 11,855,351
(5,313,266) (335,300
1,350,000 361,648 (6,150,000)
3,572,791 720,300 37,437
72 | The National Insurance Board of The Turks and Caicos Islands
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