Appendix B

Plan Assets

The assets of the plan, except for a small cash flow account, are invested as part of the OMERS pension fund under a master trust arrangement. The cash flow account is maintained by Sun Life Financial. In preparing this report, we have relied upon fund statements prepared by Sun Life Financial and audited financial statements prepared by OMERS. Customarily, this information would not be verified by a plan’s actuary. We have reviewed the information for internal consistency and we have no reason to doubt its substantial accuracy.

Reconciliation of Market Value of Plan Assets

The pension fund transactions since the last valuation are summarized in the following table:

	2019
December 31	$32,901,000
PLUS
Company’s contributions	$100,000
Investment income	$4,086,000
	$4,186,000
LESS
Pensions paid	$2,039,000
Investment fees	$189,000
Administration fees	$81,000
	$2,309,000
December 31	$34,778,000
Gross rate of return3	12.85%
Rate of return net of expenses3	12.58%