Workplace Safety & Prevention Services
Statement of Cash Flows
For the year ended March 31, 2020
The accompanying notes are an integral part of these financial statements.
2020
$
2019
$
Cash provided by (used in)
Operating activities
Shortfall of revenue over expenditures for the year (6,293,082) (1,157,570)
Adjustment to reconcile excess (shortfall) of revenue over expenditures
to net cash provided by operating activities
Amortization of deferred capital contributions (145,231) (94,897)
Amortization of capital assets 273,598 223,265
Loss from CHSI 552,061 392,194
Employee future benefits expense (note 10) 2,104,600 2,016,100
Employee future benefits paid (note 10) (891,000) (917,000)
Reinvested investment income (899,753) (954,941)
Changes in non-cash working capital balances
Accounts receivable (2,025,215) (520,478)
Prepaid expenses 292,151 (78,849)
Accounts payable and accrued liabilities 673,769 (484,438)
Customer deposits (1,077,769) (37,892)
Attendance credits and exit benefits payable - 17,016
(7,435,871) (1,597,490)
Investing activities
Proceeds from short-term investments 54,625,981 21,796,981
Purchases of short-term investments (39,211,515) (13,458,093)
Purchases of long-term investments (9,256,725) (5,484,624)
Purchase of capital assets - (302,000)
6,157,741 2,552,264
Financing activities
Funding received for purchases of capital assets - 302,000
Change in cash and cash equivalents during the year
(1,278,130) 1,256,774
Cash and cash equivalents – Beginning of year
2,629,490 1,372,716
Cash and cash equivalents – End of year
1,351,360 2,629,490
Non-cash transaction
Transfer of long-term investment to short-term investments 562,910 5,000,000
23 | WSPS.CA/AnnualReport
