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1 EVERETT SCHOOL EMPLOYEE BENEFIT TRUST
2 STATEMENT OF OPERATIONS AND FUND BALANCE
3 For the Year Ended June 30, 2008 and June 30, 2009
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5 FOR COMPARISON ONLY
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9      Current Month  2007-2008  Current Month  2008-2009
10 REVENUES:     (February)    (February)  
11 Employer Contributions    $ 1,991,625 $ 11,123,970 $ 1,401,147 $ 11,808,223
12 Employee Contributions     233,698   2,031,452   220,526   1,814,196
13 Investment Earnings      642,650   1,034,535   51,453   488,278
14 Net Appreciation (Depreciation) of market value     (513,395)  (470,272)  (42,537)  (71,726)
15      _  _  _  _
16 Total Revenues     2,354,578   13,719,684   1,630,590   14,038,970
17      _  _  _  _
18 COST OF BENEFITS PROVIDED:             
19 HMA Premium     23,814   195,536   24,687   191,305
20 HMA Claims     699,248   4,386,901   390,970   4,447,054
21 Other Benefits     0   (1,170)  1,313   1,313
22 Symetra - Stop Loss Premium     0   (59,568)  0   0
23 Sun Life     20,496   160,188   20,447   127,799
24 NMHC Paid Prescriptions     (330)  (28,793)  0   0
25 ESI Prescriptions Paid     134,347   952,445   119,259   1,021,608
26 Pacific Care Premium     277,211   1,998,618   309,824   2,347,594
27 Group Health Premium     243,229   1,847,623   260,209   2,032,083
28 Washington Dental Service Premium      137,102   1,073,554   135,557   1,080,423
29 Williamette Dental     25,129   186,707   29,059   221,597
30 Metropolitan Life ($50M) Premium     11,115   86,830   11,297   89,466
31 Metropolitan Life (VOL) Premium      13,645   103,846   12,560   109,284
32 Standard Insurance     38,104   276,039   37,504   303,180
33 UNUM LTC     821   5,784   919   6,907
34 HMA - THM     7,992   62,884   0   47,872
35 Free & Clear     0   0   0   9,125
36 Magellan Behavior     0   0   0   14,082
37      _  _  _  _
38  Cost of Benefits Provided    1,631,923   11,247,424   1,353,603   12,050,693
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40      _  _  _  _
41 Excess (Deficiency) of Revenues over Cost of Benefits      722,655   2,472,260   276,987   1,988,278
42       _  _  _  _
43            
44 ADMINISTRATIVE EXPENSES:            
45 Administration     1,432   11,344   1,535   12,133
46 Wellness Coordinator Salary     0   0   7,504   61,604
47 Wellness Coordinator Expenses     1,475   1,588   1,241   14,948
48 Audit Fee     0   7,695   0   8,950
49 Bank Charges     0   0   0   0
50 Regulatory Fees     1,223   2,446   0   4,150
51 Legal Fees     0   2,006   0   66,726
52 Liability Insurance     0   8,700   8,700   8,700
53 Misc. Expense      33   230   33   646
54 Office & Printing     0   171   0   98
55 Flex Plan Services     0   1   0   0
56 Consultant Fee     0   19,809   0   57,290
57 Investment Consultant Fee     0   0   0   4,375
58 Trustee Expense     0   55   0   128
59      _  _  _  _
60  Total Administrative Expenses    4,162   54,045   19,013   239,748
61      _  _  _  _
62 Excess(Deficiency) of Revenue Over Expenses     718,493   2,418,215   257,974   1,748,530
63 Adjusted Fund Balance 2/01/08 and 2/01/09     10,014,830   8,315,108   12,997,023   11,506,467
64             
65      _  _  _  _
66 Fund Balance 2/29/2008 and 2/28/2009    $ 10,733,323 $ 10,733,323   13,254,997 $ 13,254,997
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