Page 36 - Annual Report 2017

For the year ended December 31 , 2017
(expressed in United States Dollars)

2017 2016
$ $
Cash flows from operating activities

Surplus for the year 270,737 123,658
Adjustments for:
Depreciation (Note 9 and 10) 59,139 60,650
Interest expense (Note 16)
Interest income (Note 16) (20,457) (23,244)

Operating surplus before working capital changes 309,419 161,064

Increase in trade and other receivables (126,775) 14,790
Decrease in other cu rrent assets 4,047 9,998
Increase in trade and other payables 74,715 135,336

Cash generated fram operations 261,406 321,188
Interest paid
Interest received 20,457 23,244
Net cash provided by operating activities 281 ,863 344,432

Cash flows from investing activities
Increase in investment securities (20,984) (2,132,420)
Redemption of investments 1,976,922
Purch"e of property and equipment (Note 9) (21 ,057) (74,948)

Net cash used in investing activities (42,041) (230,446)

Cash flows from financing activities

Increase in disasterfund reserve (122,869) (9,634)
Net cash used in fi nancing activities (122,869) (9,634)

Net increase in cash and cash equivalents 116,953 104,352
Cash and cash equivalents, beginning of year 707,669 603,317

Cash and cash equivalents, end of ye.r (Note 5) 824,622 707,669