16 | Workplace Safety & Prevention Services
Workplace Safety & Prevention Services
Statement of Cash Flows
For the year ended March 31, 2023
The accompanying notes are an integral part of these financial statements.
2023
$
2022
$
Cash provided by (used in)
Operating activities
Deficiency
of revenue over expenditures for the year (2,679,087) (5,845,228)
Adjustment to reconcile deficiency of revenue over expenditures to net
cash provided by
operating activities
Amortization of deferred capital contributions (4,397) (50,335)
Amortization of capital assets 4,397 50,335
Employee
future benefits expense (note 8) 1,165,000 1,176,200
Employee
future benefits paid (note 8) (1,029,700) (1,038,400)
Reinvested investment income (585,668) (5,242)
Non-cash settlement of related party balances - 1,843,225
Changes
in non-cash working capital balances
Accounts receivable (722,784) 16,689
Prepaid expenses 33,181 41,685
Accounts payable and accrued liabilities 199,623 (67,348)
Customer deposits (212,858) 482,390
Exit benefits -
(57,778)
(3,832,293) (3,453,807)
Investing activities
Proceeds from redemption of short-term investments 51,138,829 36,931,791
Purchase of short-term investments
(38,660,385) (37,231,639)
Purchase of long-term investments (8,416,897) (6,705,148)
Purchase of capital assets (26,381) -
4,035,166 (7,004,996)
Financing activities
Funding received for purchase of capital assets
26,381 -
Change in cash during the year
229,254 (10,458,803)
Cash - beginning of year
1,986,266 12,445,069
Cash - end of year
2,215,520 1,986,266
Non-cash transaction
Transfer of long-term
investment to short-term investments 7,528,322 9,082,678
