Workplace Safety & Prevention Services
Notes to Financial Statements
March 31, 2022
7
9 Internally restricted fund
2022
$
2021
$
Fund for Employee Future Benefit Equalization Reserve 21,818,400 18,517,500
The Board approved an internally restricted fund as at December 31, 2015 for the amount of remeasurements
and other items recognized in the statement of changes in net assets related to the Corporation's defined
benefit post-retirement plan. In the current year, $3,300,900 in actuarial gain (2021 – $1,402,900 loss) resulting
from the change in benefits during the year was transferred to this fund. This fund will be used to offset future
actuarial losses.
10 Training and publication recoveries
2022
$
2021
$
Consulting 2,553,024 2,384,738
Training 3,121,070 1,881,214
Excellence Program/Safety group 195,124 379,027
E-learning training 528,169 275,469
Safety literature and information services (safety products) 113,216 83,499
Conferences 209,290 81,889
6,719,893 5,085,836
11 Commitments
The Corporation has operating leases for various office premises and equipment with minimum annual
payments as follows:
$
2023 113,000
2024 113,000
2025 113,000
2026 75,000
414,000
12 Related party transactions
The Corporation subleases its premises from CHSI and pays operating costs based on rented space. During
the year, CHSI charged rental and operating costs of $1,534,876 (2021 – $402,366). Advances to CHSI as of
year-end are $Nil (2021 – $1,843,225), of which $1,843,225 (2021 - $Nil) was deemed to be impaired during
the year and included in finance charges and bad debts expenditure.
