Workplace Safety & Prevention Services
Notes to Financial Statements
March 31, 2018
23 | WSPS.CA/AnnualReport
4 INVESTMENT IN CHSI
CHSI is a not-for-profit organization, incorporated under the laws of the Province of Ontario on September 8, 2004,
whose purpose is to create a focal point for innovation and applied learning in the prevention of workplace injuries and
illnesses and to act as a key resource for employers, employees and others seeking expertise and direction on how to
make workplaces safer. CHSI is exempt from income taxes under Section 149(1)(I) of the Income Tax Act (Canada).
The most recent audited financial statements of CHSI are for the fiscal year January 1 to December 31, 2017, audited by
another firm of accountants with a report date of May 3, 2018. The information below reflects the financial results in the
audited financial statements as well as the internal financial information for the period from January 1, 2018 to March 31,
2018, as reported by CHSI's management.
CHSI
$
WSPS
74.36%
share
$
Assets 5,550,498 4,127,350
Liabilities 967,857 719,698
Net assets 4,582,641 3,407,652
Operating results (period from April 1, 2017 to March 31, 2018)
Revenue 5,918,663 4,401,118
Expenses (operating) 5,186,204 3,856,461
Excess of revenue over expenses 732,459 544,657
Increase in net assets 732,459 544,657
Cash flows
Operating
1,152,848 857,258
Investing 666,016 495,249
Increase in cash during the period 1,818,864 1,352,507
2018
$
2017
$
Investment consists of
Balance – Beginning of year
2,877,665 2,629,697
Proportionate share of excess of revenue over expenses 544,657 247,968
Balance – End of year 3,422,322 2,877,665
