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WSPS 2016 Annual Report

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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

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