Page 35 - Annual Report 2017
P. 35
For the year ended December 31,2017
(expressed in United States Dollars)
Disasterfund Fair value Accumulaled Tolal
reserve reserve reserve reserve
$ $ $ $
Balance al January 1,2016 732,894 29,444 1,645,826 2,408,164
Comprehensive income
Surplus for the year 8,889 123,658 132,547
Other comprehensive income/(Ioss)
Administrative fee (Note 12 and 15) 10,000 10,000
Interest income (Note 12) (21,660) (21,660)
Total other comprehensive loss 11.660 11,660
Total comprehensive loss 11.660 8,889 123,658 144,207
Transactions with members
Reimbursement to members(Note 12) (102,294) (102,294)
Membership contributions (Note 12) 81,000 81,000
Balance al Oecember 31 , 2016 723,260 38,333 1,769,484 2,531 ,077
Balance al January 1,2017 723,260 38,333 1,769,484 2,531 ,077
Comprehensive income
Surplus for the year (8,889) 270,737 261,848
Other comprehensive income/(Ioss)
Administrative fee (Note 12 and 15) 10,000 10,000
Interest income (Note 12) (30,296) (30,296)
Total other comprehensive incame 20,296 20,296
Total comprehensive income 20,296 (8,889) 270,737 282,144
Transactions with members
Reimbursement to members(Note 12) (202,565) (202,565)
Membership contributions (Note 12) 59,400 59,400
Balance al Oecember 31 , 2017 600,391 29,444 2,040,221 2,670,056
