2015
ANNUAL
REPORT
|
Workplace
Safety
&
Prevention
Services
26
Ahead of the Curve | WSPS.CA/AnnualReport
Workplace Safety & Prevention Services
Notes to Financial Statements
December 31, 2015
8. DEFERRED REVENUE
Deferred revenue from the MOL and WSIB in the current year consist of funding received from WSIB to be used towards
costs of leased premises. Changes in the deferred revenue balance are as follows:
2015 2014
Deferred revenue – Beginning of the year $ 146,469
$ 563,469
Current year's expenditures from prior year's restricted excess funding
incurred for special projects
— (417,000 )
$ 146,469 $ 146,469
9. DEFERRED CAPITAL CONTRIBUTIONS
Deferred capital contributions represent the unamortized amount of contributions received for the purchase of capital assets.
2015 2014
Balance – Beginning of year $ 274,812 $ 319,376
Amortization of deferred capital contributions (44,564) (44,564)
$ 230,248 $ 274,812
