Page 21 University of Technology, Jamaica Notes to the Financial Statements 31 March 2020 (expressed in Jamaican dollars unless otherwise indicated) 3. Financial Risk Management (Continued) (a) Credit risk (continued) Loss Allowance (continued) The closing loss allowance for receivables as at 31 March 2020 reconciles to the opening loss allowance as at 31 March 2019 as follows: 2020 2019 $’000) $’000) At 1 April 332,482 291,324 Movement on loss allowance recognised in net surplus during the year 147,698 41,158 At 31 March 480,180 332,482 The closing loss allowance for investment securities as at 31 March 2020 reconciles to the opening loss allowance as at 31 March 2019 as follows: 2020 2019 $’000) $’000) At 1 April 84 4,380 Movement on loss allowance recognised in net surplus during the year 1,459 (4,296) At 31 March 1,543 84 University of Technology, Jamaica 137
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