Download PDF (619 ko )FSST and CSST Financial Statements 2007

Fonds de la santé et de la sécurité du travail
Cash Flows
for the year ended December 31, 2007
2007 2006
(in thousands of dollars)
FSST Financial Statements
Operating activities
(Deficiency) Excess of income over expenses (328,596) 1,040,584
Adjustments for:
Depreciation of tangible assets 5,968 4,246
Depreciation of intangible assets 12,824 8,383
Losses on disposal of tangible assets 14 408
Variation in the provision for assessment refunds 14,833 49,986
Increase in actuarial liability 814,209 353,082
Gains on disposal of investment units – Funds
deposited with the Caisse de dépôt et placement
du Québec (69,967) (30,488)
Variation in fair value – Funds deposited with
the Caisse de dépôt et placement du Québec 216,523 (850,427)
665,808 575,774
Variation in non-cash items:
Owed by the CSST (12,873) 26,914
Investment income receivable – Funds deposited
with the Caisse de dépôt et placement du Québec 39,413 11,663
Accounts payable and accruals 31,837 9,224
Assessments collected in advance 20,565 20,470
Due to the CSST 6,001 12,673
84,943 80,944
Cash flows provided by operating activities 750,751 656,718
Investment activities
Funds deposited with the Caisse de dépôt et placement
du Québec:
Acquisitions of investment units (857,716) (797,966)
Proceeds from disposal of investment units 382,541 194,003
Acquisitions of tangible assets (11,518) (4,494)
Acquisitions of intangible assets (33,595) (14,852)
Proceeds from disposal of tangible assets — 3
Cash flows used for investment activities (520,288) (623,306)
financing activities
Repayment of long-term debts, i.e. cash flows used
for financing activities (512) (445)
Increase in cash and cash equivalents 229,951 32,967
Shortfall of cash and cash equivalents, beginning of year (314,584) (347,551)
Shortfall of cash and cash equivalents, end of year (Note 16) (84,633) (314,584)
The accompanying notes are an integral part of these financial statements.
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