Workplace Safety & Prevention Services
Notes to Financial Statements
March 31, 2018
27 | WSPS.CA/AnnualReport
11 INTERNALLY RESTRICTED
Included as part of internally restricted net assets are the following funds:
Internally restricted fund for CHSI capital expenditures
The Board approved setting up an internally restricted fund as at December 31, 2012 for the Corporation's share of
future capital expenditures relating to CHSI. The fund was designated based on a reserve fund study performed on
CHSI in 2011. In the current year, the Corporation allocated $544,657 (2017 - $247,968) to this fund. These amounts
represent the Corporation's share of CHSI's replacement reserve and unrestricted net assets.
Internally restricted for long-term plans
The Board approved setting up an internally restricted fund as at December 31, 2012 to fund certain commitments and
long-term plans and activities. In the current year, there was no movement to or from this internally restricted fund.
Internally restricted for defined benefit post-retirement plan remeasurements
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 (deficiency) related to the Corporation's defined benefit post-
retirement plan. In the current year, $1,374,200 in actuarial loss (2017 - $8,560,100 in actuarial gains) resulting from the
change in benefits during the year was transferred to this fund. This fund will be used to offset future actuarial losses.
The following represents the balances within each of the Corporation's internally restricted funds as at March 31:
2018
$
2017
$
Fund for CHSI capital expenditures 2,640,542 2,095,885
Fund for long-term plans 295,739 295,739
Fund for Employee Future Benefit Equalization Reserve 13,048,600 14,422,800
15,984,881 16,814,424
