23|WSPS.CA/AnnualReport
Workplace Safety & Prevention Services
Notes to Financial Statements
March 31, 2019
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.
2019
$
2018
$
Balance – Beginning
of year 129,979 174,543
Addition to deferred capital contribution 302,000 -
Amortization of deferred capital contributions (94,897) (44,564)
Balance – End of year 337,082 129,979
10 Employee future benefits
Defined benefit post-retirement plan
The Corporation provides extended health-care, dental and life insurance benefits to all employees with the cost
of these benefits recognized on an accrual basis. The most recently completed actuarial valuation was on
March 31, 2017. The continuity of the accrued benefit obligation relating to the post-retirement benefit plan is
as follows:
2019
$
2018
$
Accrued benefit liability – Beginning of year 31,048,300 28,566,200
Current service cost 884,800 785,600
Interest cost on obligation
1,131,300 1,126,300
33,064,400 30,478,100
Actuarial loss 964,600 1,374,200
Benefit payments
(917,000) (804,000)
Accrued benefit liability – End of year 33,112,000 31,048,300
Benefit plan expense
Current service cost 884,800 785,600
Interest on accrued benefit obligation
1,131,300 1,126,300
Net benefit plan expense 2,016,100 1,911,900
