Workplace Safety & Prevention Services
Notes to Financial Statements
March 31, 2017
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 at December 31, 2016, audited by another firm of accountants
with report date of June 22, 2017. The information below reflects the financial results in the audited financial statements and
the internal financial information for the period from January 1, 2017 to March 31, 2017, as reported by CHSI's management.
CHSI
$
WSPS
74.36% share
$
Assets 4,575,372 3,402,247
Liabilities 691,546 514,234
Net assets 3,883,826 2,888,013
Operating results (period from January 1, 2016 to March 31, 2017)
Revenue
7,015,663 5,216,847
Expenses (operating) 6,682,194 4,968,879
Excess of revenue over expenses 333,469 247,968
Increase in net assets 333,469 247,968
Cash flows
Operating
195,265 145,199
Investing (129,744) (96,478)
Increase in cash during the period 65,521 48,721
March 31,
2017
$
December 31,
2015
$
Investment consists of
Balance – Beginning of period
2,629,697 2,322,422
Proportionate share of excess of revenue over expenses 247,968 307,275
Balance – End of period 2,877,665 2,629,697
CELEBRATING 100 YEARS OF SAFETY IN ONTARIO | 1917-2017 WSPS.CA/AnnualReport 31
