WSPS.CA | 2022 Annual Report | 23
Workplace Safety & Prevention Services
Notes to Financial Statements
March 31, 2023
7
9 Internally restricted fund
2023
$
2022
$
Fund for Employee
Future Benefit Equalization Reserve 25,524,200 21,818,400
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, $3,705,800 (2022 – $3,300,900) in actuarial gain 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
2023
$
2022
$
Conferences 337,825 209,290
Consulting
2,900,956 2,553,024
E-learning
training 829,928 528,169
Excellence Program/Safety
group 239,787 195,124
Safety
literature and information services (safety products) 173,846 113,216
Training
4,153,327 3,121,070
8,635,669 6,719,893
11 Commitments
The Corporation has operating leases for office premises with minimum annual payments as follows:
$
2024 113,000
2025 113,000
2026 75,000
301,000
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 $2,086,074 (2022 – $1,534,876). Advances to CHSI as of
year-end are $Nil (2022 – $Nil), of which $Nil (2022 - $1,843,225) was deemed to be impaired during the year
and included in finance charges and bad debts expenditure.
