JPS & Partners 2017 Annual Report

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Statement of Changes in Equity For the year ended 31st December 2017 Non-Institutional Capital Continued (Expressed in Jamaican Dollars unless otherwise indicated) Capital Other Retirement Undistributed Revaluation Non-Qualifying Benefit Net Reserves Reserves Reserves Income Total $ $ $ $ $ Balance at 31st December 2016 17,191,827 68,448,165 47,494,000 31,315,261 164,449,253 Net Income after Honoraria - 39,898,370 39,898,370 Other Comprehensive Income Minimum Business Tax - - - (60,000) (60,000) Pension Income - - (5,150,000) - (5,150,000) Total Comprehensive Income for the Year after Honoraria - - (5,150,000) 39,838,370 34,688,370 Transactions with Owners Scholarship Fund - (2,937,903) - - (2,937,903) Youth Programme Reserve - (750,000) - - (750,000) 60th Anniversary Celebration - (6,408) - - (6,408) Care-a-bit Reserve - (55,000) - - (55,000) Appropriations of Net Surplus for 2016 Dividends on Permanent Shares - - - (7,362,354) (7,362,354) Youth Programme Reserve - 750,000 - (750,000) - Care-a-bit Reserve - 750,000 - (750,000) - Scholarship Fund - 1,200,000 - (1,200,000) - Organisational Alignment - 8,000,000 - (8,000,000) - Software Reserve - 750,000 - (750,000) - Building Reserves - 3,613,009 - (3,613,009) - Transfer from Redemption Reserve - - - (1,012,446) (1,012,446) Provision over-provided (154) - - 150 (4) Transfer of 20 % of Net Income for the Year before Honoraria - - - (8,392,174) (8,392,174) Total Transactions with Owners (154) 11,313,698 - (31,829,833) (20,516,289) Balance at 31st December 2017 17,191,673 79,761,863 42,344,000 39,323,798 178,621,334 Pushing you Beyond All Limits! 54 JPS & Partners Co-operative Credit Union
Statement of Changes in Equity For the year ended 31st December 2017 Institutional Capital (Expressed in Jamaican Dollars unless otherwise indicated) Business Statutory Combination & Legal Revenue Reserve Reserves Reserves Total $ $ $ $ Balance at 31st December 2015 231,246,055 324,809,741 44,230,207 600,286,003 Transfer of 20 % of Net Income for the Year before Honoraria - 6,121,966 - 6,121,966 Arising from Business Combination: - Merger Reserve on Business Combination 66,364,422 - - 66,364,422 Balance at 31st December 2016 297,610,477 330,931,707 44,230,207 672,772,391 Transfer of 20 % of Net Income for the Year before Honoraria - 8,392,174 - 8,392,174 Balance at 31st December 2017 297,610,477 339,323,881 44,230,207 681,164,565 The accompanying notes form an integral part of the financial statements. Pushing you Beyond All Limits! 55 JPS & Partners Co-operative Credit Union
Page 2 and 3:
Our Vision To be our members’ pre
Page 4 and 5:
Table of Contents NOTICE OF MEETING
Page 6 and 7: Progress Report 2008-2017 YEARS MEM
Page 8 and 9: Minutes of the 62nd AGM (Continued)
Page 10 and 11: Minutes of the 62nd AGM Continued B
Page 20 and 21: Pictorial Highlights Scholarship Lu
Page 22 and 23: Our Directors Alicia Burnett Assist
Page 24 and 25: Board of Directors Report (Continue
Page 32 and 33: Treasurer’s Report I take pleasur
Page 34 and 35: Treasurer’s Report Continued 26.0
Page 36 and 37: Treasurer’s Report Continued 5 YE
Page 38 and 39: Treasurer’s Report Continued What
Page 40 and 41: Our Team Members : Half-Way Tree Ro
Page 42 and 43: Our Team Members : Ewarton Janet Ru
Page 44 and 45: Meet Our Location Representatives (
Page 46: Financial Statements as at December
Page 52 and 53: Statement of Comprehensive Income F
Page 54 and 55: Statement of Changes in Equity For
Page 58 and 59: Statement of Cash Flows For the yea
Page 60 and 61: Notes to the Financial Statements F
Page 100 and 101: Supervisory Committee Report Corine
Page 102 and 103: Credit Committee Report Diedre Codn
Page 104 and 105: League Delegates Report Natalie Spa
Page 106 and 107:
League Delegates Report (Continued)
Page 108 and 109:
Nominating Committee Report (Contin
Page 110 and 111:
Page 112 and 113:
Page 114 and 115:
Notes Pushing you Beyond All Limits
Page 116:
Editorial Team: Joydene Jarrett, Na
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JPS & Partners 2017 Annual Report

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