Page 42 University of Technology, Jamaica Notes to the Financial Statements 31 March 2020 (expressed in Jamaican dollars unless otherwise indicated) 19. Cash and Cash Equivalents 2020 $’000 2019 $’000 Cash at bank and in hand Ca3s9h2a,0t 0b0ank and in hand 225,064 Bank overdraft Bank overdraft (59,707) (11,516) 332,293 213,548 Reverse repurchase agreements with original terms of maturity less than 90 days 402,515 1,342,574 734,808 1,556,122 Cash and bank include foreign currency savings accounts which attract interest as follows; USD Savings 1.00% per annum (2019 – 1.62%), EURO Savings Account 0.15% (2019 – 0.05%), Canadian Savings Account per annum 0.05% (2019 – 0.05%), Pound Sterling Savings Account per annum 0.30% (2019 – 0.07%) and local savings account per annum 8.02% (2019 – 13.79%). The accounting records of the University reflect a bank overdraft which results from the net of cheques issued but not yet presented to the bank and deposits in transit. The University does not have an actual overdraft with any of its bankers and no bank overdraft facilities are in place at year end. University of Technology, Jamaica 158
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