2015
ANNUAL
REPORT
|
Workplace
Safety
&
Prevention
Services
20
Ahead of the Curve | WSPS.CA/AnnualReport The accompanying notes are an integral part of these financial statements.
For the year ended December 31, 2015
2015 2014
Cash provided by (used in)
Operating activities
Excess of revenue over expenditures
$ 976,836 $ 2,510,346
Adjustment to reconcile excess of revenue over expenditures
to net cash provided by operating activities
Amortization of deferred capital contributions
(44,564) (44,564)
Amortization of capital assets
197,973 197,758
Gain on disposition of capital assets
— (2,705)
Income from Centre for Health & Safety Innovation
(307,275) (118,389)
Employee future benefits expense
(note 10)
3,324,400 3,529,000
Employee future benefits paid
(note 10)
(606,000) (632,000)
Changes in non-cash working capital balances
Accounts receivable
(225,480) 374,631
Inventory
— 1,581
Prepaid expenses
37,668 (372,800)
Accounts payable and accrued liabilities
(294,345) 758,407
Attendance credits and exit benefits payable
(77,269) (28,795)
Deferred revenue
— (417,000)
2,981,944 5,755,470
Investing activities
Proceeds from (purchases of) short term investments – net
1,780,539 (16,154,900)
Purchase of long-term investments
(4,400,000) —
Proceeds on disposition of capital assets
— 2,705
(2,619,461) (16,152,195)
Net change in cash and cash equivalents (bank indebtedness) during the year 362,483 (10,396,725)
Cash and cash equivalents – Beginning of year 267,841 10,664,566
Cash and cash equivalents – End of year $ 630,324 $ 267,841
Workplace Safety & Prevention Services Statement of Cash Flows
