Workplace Safety & Prevention Services
Notes to Financial Statements
December 31, 2013
15. CoNtrIBUtED SUrPLUS
On January 1, 2001 the former FSA became self-administered and the value of assets previously recorded as expenditures
and funded by the WSIB was recorded as contributed surplus.
16. 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 $378,957 (2012 – $283,158) to this fund and transferred $Nil (2012 –
$760,138) from unrestricted net assets. These amounts represent the Association's share of CHSI's replacement reserve
and unrestricted net assets.
17. 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, the Association allocated $Nil (2012 – $Nil) to this fund and transferred
$33,941 to unrestricted net assets (2012 – $750,000 from unrestricted net assets).
18. UNrEStrICtED NEt ASSEtS
Based on a directive from WSIB, there is a requirement to build up the unrestricted net assets to $3,750,000, which has
been achieved in the current year.
34
2013
annual
report
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Workplace
Safety
&
Prevention
Services
