Workplace Safety & Prevention Services
Notes to Financial Statements
March 31, 2020
(8)
11 Internally restricted
Included as part of internally restricted net assets are the following funds:
Internally restricted fund for CHSI capital expenditures
The Board approved setting up an internally restricted fund as at December 31, 2012 for the Corporation's
share of future capital expenditures relating to CHSI. The fund was designated based on a reserve fund
study performed on CHSI in 2011. In the current year, the Corporation reduced the fund by $552,061
(2019 – reduced by $392,194). The balance represents the Corporation's share of CHSI's replacement
reserve and unrestricted net assets.
Internally restricted for defined benefit post-retirement plan remeasurements
The Board approved an internally restricted fund as at December 31, 2015 for the amount of
remeasurements and other items recognized in the statement of changes in net assets (deficiency) related
to the Corporation's defined benefit post-retirement plan. In the current year, $7,836,400 in actuarial
gains (2019 – $964,600 losses) resulting from the change in benefits during the year was transferred to
this fund. This fund will be used to offset future actuarial losses.
The following represents the balances within each of the Corporation's internally restricted funds as at
March 31:
2020
$
2019
$
Fund for CHSI capital expenditures 1,696,287 2,248,348
Fund for Employee Future Benefit Equalization Reserve 19,920,400 12,084,000
21,616,687 14,332,348
12 Training and publication recoveries
2020
$
2019
$
Conferences 2,023,313 2,023,985
Consulting 2,983,297 3,198,855
E-learning training 248,975 259,511
Training 5,275,034 5,464,731
Safety literature and information services (safety products) 127,516 174,331
Safety group 550,672 613,380
11,208,807 11,734,793
31 | WSPS.CA/AnnualReport
