21 | WSPS.CA/AnnualReport
Workplace Safety & Prevention Services
Statement of Cash Flows
For the year ended March 31, 2021
The accompanying notes are an integral part of these financial statements.
2021
$
2020
$
Cash provided by (used in)
Operating activities
Surplus (shortfall) of revenue over expenditures for the year 190,663 (6,293,082)
Adjustment to reconcile excess (shortfall) of revenue over expenditures
to net cash provided by operating activities
Amortization of deferred capital contributions (141,516) (145,231)
Amortization of capital assets 258,295 273,598
Loss from CHSI 2,453,302 552,061
Employee future benefits expense (note 8) 1,055,800 2,104,600
Employee future benefits paid (note 8) (930,200) (891,000)
Reinvested investment income (405,836) (899,753)
Changes in non-cash working capital balances
Accounts receivable 2,282,673 (2,025,215)
Prepaid expenses 186,196 292,151
Accounts payable and accrued liabilities (994,978) 673,769
Customer deposits (370,134) (1,077,769)
Advances to related party (1,843,225) -
Attendance credits and exit benefits payable (76,223) -
Deferred revenue (146,469) -
1,518,348 (7,435,871)
Investing activities
Proceeds from short-term investments 44,073,765 54,625,981
Purchases of short-term investments (23,926,746) (39,211,515)
Purchases of long-term investments (10,571,658) (9,256,725)
9,575,361 6,157,741
Change in cash and cash equivalents during the year
11,093,709 (1,278,130)
Cash and cash equivalents – Beginning of year
1,351,360 2,629,490
Cash and cash equivalents – End of year
12,445,069 1,351,360
Non-cash transaction
Transfer of long-term investment to short-term investments 5,082,384 562,910
