Corporate

Workplace Safety & Prevention Services 2012 Annual Report 30 December 31, 2012 Workplace Safety & Prevention Services Notes to Financial Statements 7. Capital Assets 2012 2011 Accumulated Accumulated Cost Amortization Cost Amortization Computer software $ 906,749 $ 906,749 $ 906,749 $ 876,083 Office equipment 1,273,268 1,261,378 1,273,268 1,226,745 Computer equipment 767,663 767,663 817,663 817,663 Furniture 823,883 821,404 1,197,383 1,177,337 Leasehold improvements 2,867,499 1,365,180 2,867,499 1,167,627 $ 6,639,062 $ 5,122,374 $ 7,062,562 $ 5,265,455 Net book value $ 1,516,688 $ 1,797,107 During the year the Association disposed of $423,500 (2011 – $nil) in fully amortized assets. 8. Government Remittances Included in accounts payable and accrued liabilities are government remittances including federal and provincial sales tax, payroll withholdings and related tax of $nil (2011 – $nil). 9. Attendance Credits 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 the WSIB, it has been agreed that the 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). 10. Exit Benefits 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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