Workplace Safety & Prevention Services 2012 Annual Report
31
December 31, 2012
Workplace Safety & Prevention Services
Notes to Financial Statements
11. Deferred MOL Revenue
Deferred revenue consists of the following: 2012 2011
Prepaid rent $ 146,469 $ 146,469
Operating 1,895,294 416,339
$ 2,041,763 $ 562,808
Changes in the deferred revenue balance are as follows: 2012 2011
Deferred revenue, beginning of the year $ 562,808 $ 1,429,809
Funding for first quarter 2013 expenditures received in 2012 1,534,955 –
Funding for 2012 operating expenditures received in 2011 – 80,000
Current year's expenditures from prior year's restricted
excess funding incurred for special projects (56,000) (1,001,238)
Deposit on leased premises – 54,237
Deferred revenue, end of the year $ 2,041,763 $ 562,808
12. Deferred Capital Contributions
Deferred capital contributions represent the unamortized amount of contributions received for the
purchase of capital assets.
2012 2011
Balance, beginning of year $ 448,535 $ 525,655
Amortization of deferred capital contributions (65,748) (77,120)
Balance, end of the year $ 382,787 $ 448,535
13. Deferred MOL Surplus
Prior to the amalgamation, as a result of unauthorized capital asset purchases in 2008, the WSIB
required that the cost of the 2008 unauthorized capital asset purchases reduce the funding from WSIB
on a dollar for dollar basis. In the current year, $nil (2011 – $550,000) in revenue from WSIB/MOL has
been allocated to deferred MOL surplus to address this deficiency.
