Annual Report 2006 - wsib
Annual Report 2006 - wsib
Annual Report 2006 - wsib
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There really are no accidents.<br />
10. Administrative and<br />
other expenses<br />
Administrative and other expenses consist of the following:<br />
($ millions) <strong>2006</strong> 2005<br />
Salaries and fringe benefits $288 $287<br />
Equipment and maintenance 36 34<br />
Occupancy 40 37<br />
Communication 15 16<br />
Supplies and services 7 8<br />
Travel and vehicle maintenance 4 5<br />
New systems development and integration 7 7<br />
Other 18 19<br />
415 413<br />
Amortization expense 13 18<br />
Staff benefit plans 94 63<br />
522 494<br />
Claim administration costs (note 8) (301) (291)<br />
$221 $203<br />
11. Related-party<br />
transactions<br />
Legislated obligations and<br />
commitments<br />
Under the Workplace Safety and Insurance Act, 1997 and as directed by the lieutenant<br />
governor through orders in council, the WSIB is required to reimburse the Government of<br />
Ontario for all administrative costs of the Occupational Health and Safety Act. The WSIB is<br />
also required to fund the Workplace Safety and Insurance Appeals Tribunal (WSIAT) and the<br />
Offices of the Worker and Employer Advisor. These reimbursements and funding amounts<br />
are determined and approved by the Minister of Labour. The WSIB is also committed to<br />
providing funding for the Institute for Work & Health and Safe Workplace Associations,<br />
clinics and training centres.<br />
The total amount of funding provided under these legislated obligations and commitments<br />
in <strong>2006</strong> was $208 million (2005: $200 million).<br />
Investments<br />
Included in investments are marketable fixed-income securities issued by the Ontario<br />
provincial government and related corporations valued at $429 million (2005: $305 million).<br />
Other<br />
In addition to legislated obligations and workplace health and safety expenses, the financial<br />
statements include amounts resulting from transactions conducted in the normal course<br />
of operations with various Ontario government-controlled ministries, agencies, and Crown<br />
corporations. Such transactions are conducted on terms and conditions similar to those<br />
that apply to transactions with unrelated parties. Account balances resulting from these<br />
transactions are not significant.<br />
54<br />
WORKPLACE SAFETY AND INSURANCE BOARD <strong>Annual</strong> <strong>Report</strong> <strong>2006</strong>
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