2014
annual
report
|
Workplace
Safety
&
Prevention
Services
20
The accompanying notes are an integral part of these financial statements.
For the year ended December 31
2014 2013
(Note 2)
Cash provided by (used in):
operating activities
Excess of revenue over expenditures
$ 2,510,346 $ 5,972,250
Adjustment to reconcile excess of revenue over expenditures
to net cash provided by operating activities
Amortization of deferred capital contributions (44,564) (63,411)
Amortization of capital assets 197,758 198,327
Loss (gain) on disposition of capital assets (2,705) 8,790
Income from Centre for Health & Safety Innovation (118,389) (378,957)
Employee future benefits expense (recovery) – MOL — (42,612)
Employee future benefits expense
(Note 14) 3,529,000 3,175,200
Employee future benefits paid
(Note 14) (632,000) (570,000)
Changes in non-cash working capital balances
Accounts receivable 374,631 (545,669)
Inventory 1,581 39,703
Prepaid expenses (372,800) (5,910)
Accounts payable and accrued liabilities 708,686 (1,011,080)
Customer deposits 41,722 (94,291)
Vacation payable 11,711 (69,314)
Rental incentive (3,712) (3,712)
Attendance credits 9,693 (156,294)
Exit benefits payable (38,488) (69,013)
Deferred MOL revenue (417,000) (1,478,294)
Deferred MOL surplus — (1,572,955)
5,755,470 3,332,758
investing activities
Decrease in restricted cash 28,795 225,307
Increase in short term investments (16,154,900) (4,305,044)
Increase in long term investments — (200,000)
Proceeds on disposition of capital assets 2,705 21,250
(16,123,400) (4,258,487)
Net change in cash and cash equivalents (10,367,930) (925,729)
Cash and cash equivalents, beginning of year 10,325,481 11,251,210
Cash and cash equivalents (bank indebtedness), end of year $ (42,449) $ 10,325,481
Workplace safety & Prevention services Statement of Cash Flows
