2015
ANNUAL
REPORT
|
Workplace
Safety
&
Prevention
Services
28
Ahead of the Curve | WSPS.CA/AnnualReport
Workplace Safety & Prevention Services
Notes to Financial Statements
December 31, 2015
11. CONTRIBUTED SURPLUS
On January 1, 2001, the former FSA became self-administered and the value of assets previously recorded as expenditures
and funded by WSIB was recorded as contributed surplus.
12. INTERNALLY RESTRICTED
Included as part of internally restricted net assets are the following funds:
Internally restricted fund for CHSI capital expenditures
The Board approved setting up an internally restricted fund at December 31, 2012 for the Association's share of future
capital expenditures relating to CHSI. The fund was designated based on a reserve fund study performed on CHSI in
2011. In the current year, the Association allocated $307,275 (2014 - $118,389) to this fund. These amounts represent the
Association's share of CHSI's replacement reserve and unrestricted net assets.
Internally restricted for long-term plans
The Board approved setting up an internally restricted fund at December 31, 2012 to fund certain commitments and
long-term plans and activities. In the current year, there was no movement to or from this internally restricted fund.
During fiscal 2014, $420,320 was transferred out of internally restricted net assets to unrestricted net assets.
Internally restricted for defined benefit post-retirement plan remeasurements
The Board approved setting up an internally restricted fund as at December 31, 2015 for the amount of remeasurements
and other items recognized in the statement of changes in net assets (deficiency) related to the Association's defined
benefit post-retirement plan. In the current year, $5,862,700 in actuarial gains resulting from the change in benefits
during the year were transferred to this fund. This fund will be used to fund future actuarial losses.
