Corporate

2015 ANNUAL REPORT  | Workplace Safety & Prevention Services 25 Ahead of the Curve | WSPS.CA/AnnualReport Workplace Safety & Prevention Services Notes to Financial Statements December 31, 2015 5. CAPITAL ASSETS 2015 2014 Cost Accumulated Amortization Net Net Computer software $ 906,749 $ 906,749 $ — $ — Office equipment 998,294 998,294 — — Computer equipment 767,663 767,663 — — Furniture 823,883 823,883 — — Leasehold improvements 2,804,623 1,912,033 892,590 1,090,563 $ 6,301,212 $ 5,408,622 $ 892,590 $ 1,090,563 During the year, the Association disposed of $nil (2014 - $31,018) in fully amortized assets. 6. GOVERNMENT REMITTANCES Included in accounts payable and accrued liabilities are government remittances including federal and provincial sales tax, payroll withholdings and related tax of $133,674 (2014 - $111,130). 7. ATTENDANCE CREDITS AND EXIT BENEFITS PAYABLE Attendance credits payable Prior to January 1, 1991, the former IAPA and prior to January 1, 2001, the former FSA participated in the WSIB Attendance Credits Plan under which certain employees, based upon their accumulated attendance credit days, were provided with payment on retirement or separation. Commencing January 1, 1991, the former IAPA and commencing January 1, 2001, the former FSA were required to discontinue their participation in the WSIB Attendance Credits Plan. Due to past funding arrangements between these associations and WSIB, it has been agreed that WSIB will assume the full liability for attendance credits earned by employees of the Association who commenced employment prior to January 1, 1988 (IAPA) and January 1, 1998 (FSA). The Association, however, will be liable for attendance credits earned by employees hired between those dates and December 31, 1990. WSIB has provided funding for one of the four amalgamated associations (FSA, IAPA, OSSA and SWPSO). Exit benefits payable Effective January 1, 1991, the former IAPA implemented an exit benefits plan under which all employees hired prior to July 1, 2006 were eligible to receive payment on retirement or separation equal to one week's salary for each year of service. This plan was discontinued effective January 1, 2009 and employees were given the option of being paid out or deferring payment until their termination. Payouts are based on the current salary at time of payment.

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