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

However, this surplus of $2,589,000 must be considered in relation to the fact that the differences observed in
economic activity should have led to a decrease of approximately $25,600,000 in the cost of compensation programs.
The relative increase of some $23,000,000 in the cost of compensation programs corresponds mainly to medical assistance
and rehabilitation expenses.
FSST Financial Statements
*** At the time of the ratemaking, the cost on July 1, 2007 of the For a Safe Maternity program was established
at $172,600,000. In these financial statements, the same cost stands at $191,030,000, resulting in a deficit of
$18,430,000, which is due mainly to the fact that the number of workers compensated is almost 7% higher than
estimated.
**** The deficit of $15,142,000 is due primarily to assessment refunds resulting from corrections made to charges
that were more substantial than forecast.
***** This deficit of $433,002,000 is composed of several elements. First, a deficit of $355,362,000 corresponds
to medical assistance and rehabilitation expenses. Of this amount, $255,015,000 stems from the recognition of recent
experience in establishing assumptions, while the remaining $100,347,000 can be ascribed to the 2007 impact of
changes made in the delivery of hearing-aid services. Second, a deficit of $145,931,000 is due to tax changes announced
by the finance ministers in 2007. The remaining surplus amounts to $68,291,000, including a surplus of $49,327,000
concerning income replacement indemnities paid during the post-rehabilitation period, and a surplus of $28,287,000
for income replacement indemnities paid during a medical consolidation and rehabilitation period.
9. Funds Deposited with the Caisse de dépôt et placement du Québec
2007 2006
(in thousands of dollars)
Assets held for trading
Individual fund
Investment deposit at fair value 10,968,399 10,639,780
Income receivable 18,563 57,976
10,986,962 10,697,756
General fund
Variable-rate short-term loan and accrued interest* (80,069) (305,008)
10,906,893 10,392,748
* The FSST has a $450-million line of credit with the Caisse to cover its monthly cash deficits. The interest
rate on this line of credit is based on the rate of return of the demand deposit account established daily,
plus 0.05%. The interest rate was 4.3% as at December 31, 2007 (2006: 4.3%). This line of credit expires in 2008.
Pursuant to the credit agreement with the Caisse, except on the first day of every month, the authorized maximum
may exceed $450 million in the course of any given month.
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