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WSPS 2013 Annual Report

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Workplace Safety & Prevention Services Notes to Financial Statements December 31, 2013 12. DEfErrED CAPItAL CoNtrIBUtIoNS Deferred capital contributions represent the unamortized amount of contributions received for the purchase of capital assets. 2013 2012 Balance, beginning of year $ 382,787 $ 448,535 Amortization of deferred capital contributions (63,411) (65,748) Balance, end of the year $ 319,376 $ 382,787 13. DEfErrED MoL SUrPLUS Prior to the amalgamation, as a result of unauthorized capital asset purchases in 2008, the WSIB required that the cost of the 2008 unauthorized capital asset purchases reduce the funding from WSIB on a dollar for dollar basis. In the current year, $1,927,045 (2012 – $Nil) in revenue from MOL has been allocated to deferred MOL surplus to address this deficiency (Note 19). 14. EMPLoyEE fUtUrE BENEfItS The Association provides extended health care, dental and life insurance benefits to all employees with the cost of these benefits recognized on an accrual basis under the CPA Canada Handbook – Accounting section 3461. The accrued benefit obligation relating to post-retirement benefit plans as at December 31 is as follows: 32 2013 annual report  |  Workplace Safety & Prevention Services

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