Corporate

Workplace Safety & Prevention Services Notes to Financial Statements March 31, 2020 (6) 7 Attendance credits and exit benefits payable Attendance credits payable Prior to January 1, 1991, the former Industrial Accident Prevention Association (IAPA) and prior to January 1, 2001, the former Farm Safety Association (FSA) participated in the WSIB Attendance Credits Plan under which certain employees, based on 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 was required to discontinue its participation in the WSIB Attendance Credits Plan. Due to past funding arrangements between these corporations and WSIB, it has been agreed WSIB will assume the full liability for attendance credits earned by employees of the Corporation who commenced employment prior to January 1, 1988 (IAPA) and January 1, 1998 (FSA). The Corporation, however, will be liable for attendance credits earned by employees hired between the aforementioned dates and December 31, 1990. Subsequent to December 31, 1990, employees no longer receive this benefit. Exit benefits payable 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 the time of payment. 8 Deferred revenue Deferred revenue from WSIB in the current year consists of funding received from WSIB to be used towards costs of leased premises. 9 Deferred capital contributions Deferred capital contributions represent the unamortized amount of contributions received for the purchase of capital assets. 2020 $ 2019 $ Balance – Beginning of year 337,082 129,979 Addition to deferred capital contribution - 302,000 Amortization of deferred capital contributions (145,231) (94,897) Balance – End of year 191,851 337,082 29 | WSPS.CA/AnnualReport

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