36 (Expressed in Trinidad and Tobago Dollars) STATEMENT OF CHANGES IN FUNDS Long-term Short-term Employment Total benefits benefits injury benefits funds June 2017 2016 2017 2016 2017 2016 2017 2016 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Fund at beginning of year 23,875,856 24,495,067 468,284 463,841 900,416 782,546 25,244,556 25,741,454 Income Contribution 4,101,330 3,784,014 276,494 255,102 230,412 212,585 4,608,236 4,251,701 Penalty income 23,073 12,575 162 93 359 202 23,594 12,870 Revaluation of subsidiaries 149,433 103,434 – – – – 149,433 103,434 Realised investment income 915,253 984,157 6,443 7,320 14,244 15,796 935,940 1,007,273 Unrealised investment income 380,138 (1,124,972) 4,027 (8,367) 8,904 (18,055) 393,069 (1,151,394) Miscellaneous income 175 2,315 – – – – 175 2,315 Loss on disposal of property, plant and equipment (4) – – – – – (4) – Total income 5,569,398 3,761,523 287,126 254,148 253,919 210,528 6,110,443 4,226,199 Expenditure Benefits Expenditure Retirement benefit 3,778,457 3,564,493 – – – – 3,778,457 3,564,493 Survivors’ benefit 368,283 351,636 – – – – 368,283 351,636 Invalidity benefit 73,354 73,477 – – – – 73,354 73,477 Retirement grant 203,139 205,759 – – – – 203,139 205,759 Funeral grant – – 55,112 51,711 – – 55,112 51,711 Sickness benefit – – 58,591 49,666 – – 58,591 49,666 Maternity benefit – – 122,636 130,681 – – 122,636 130,681 Special maternity – – 3,849 4,205 – – 3,849 4,205 Employment injury – – – – 85,078 81,611 85,078 81,611 4,423,233 4,195,365 240,188 236,263 85,078 81,611 4,748,499 4,513,239 Administrative expense 190,503 201,136 12,843 13,559 10,702 11,300 214,048 225,995 Pension expense 13,178 11,234 93 83 205 180 13,476 11,497 Total expenditure 4,626,914 4,407,735 253,124 249,905 95,985 93,091 4,976,023 4,750,731 Excess 943,424 (646,212) 34,002 4,243 157,934 117,437 1,134,420 (524,532) O/C Income 21,664 27,001 153 200 337 433 22,154 27,634 Transfers – – – – – – – – Fund at end of year 24,840,004 23,875,856 502,439 468,284 1,058,687 900,416 26,401,130 25,244,556 The notes on pages 37 to 65 are an integral part of these special purpose financial statements.