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1 EVERETT SCHOOL EMPLOYEE BENEFIT TRUST
2 STATEMENT OF OPERATIONS AND FUND BALANCE
3 For the Year Ended June 30, 2009 and June 30, 2010
4       Revised      
5 FOR COMPARISON ONLY
6            
7      Current Month  2008-2009  Current Month  2009-2010
8 REVENUES:     (April)    (April)  
9 Employer Contributions    $ 1,393,048 $ 14,596,522 $ 1,393,898 $ 14,287,354
10 Employee Contributions     217,275   2,254,080   222,007   1,980,344
11 Investment Earnings      51,013   575,576   (8,630)  33,532
12 Net Appreciation (Depreciation) of market value     8,492   26,736   68,127   356,611
13      _  _  _  _
14 Total Revenues     1,669,829   17,452,915   1,675,402   16,657,842
15      _  _  _  _
16 COST OF BENEFITS PROVIDED:             
17 HMA Premium     24,484   240,602   24,808   244,959
18 HMA Claims     458,218   5,367,236   605,194   5,983,547
19 SunLife     22,145   165,321   (30,430)  (29,256)
20 Other Benefits     0   1,313   0   (553)
21 ESI Prescriptions Paid     175,180   1,301,161   284,219   1,726,277
22 Pacific Care Premium     310,240   2,970,906   353,566   3,290,146
23 Group Health Premium     259,833   2,552,942   298,080   2,750,545
24 Washington Dental Service Premium      134,956   1,350,678   141,764   1,384,765
25 Williamette Dental     29,202   280,074   27,905   286,759
26 Metropolitan Life ($50M) Premium     11,258   111,995   11,037   110,585
27 Metropolitan Life (VOL) Premium      14,201   137,553   15,172   147,092
28 Standard Insurance     37,422   378,084   36,600   366,694
29 UNUM LTC     420   8,246   670   6,695
30 HMA - THM     0   47,872   0   0
31 Free & Clear     0   9,125   0   1,637
32 Magellan Behavior     0   28,164   14,082   42,246
33 Carena     0   450   0   4,383
34 Sound Health Solutions     5,313   10,625   0   35,063
35 Wellsource Health Solutions     0   0   0   59,085
36      _  _  _  _
37  Cost of Benefits Provided    1,482,872   14,962,347   1,782,667   16,410,669
38      _  _  _  _
39 Excess (Deficiency) of Revenues over Cost of Benefits      186,957   2,490,568   (107,264)  247,172
40       _  _  _  _
41 ADMINISTRATIVE EXPENSES:            
42 Administration     1,536   15,204   1,629   16,597
43 Wellness Coordinator Salary     7,506   76,605   8,067   79,060
44 Wellness Coordinator Expenses     1,217   17,692   3,488   40,522
45 Audit Fee     0   8,950   0   8,950
46 Regulatory Fees     0   4,150   0   4,150
47 Bank Fees     (77)  0   0   2,449
48 Investment Fees     0   0   0   18,436
49 Legal Fees     825   88,465   2,708   53,174
50 Liability Insurance     0   8,700   0   9,150
51 Misc. Expense      33   712   0   273
52 Office & Printing     0   98   142   686
53 Consultant Fee     0   57,290   0   0
54 Investment Consultant Fee     4,375   8,750   0   17,500
55 Trustee Expense     18   145   0   0
56      _  _  _  _
57  Total Administrative Expenses    15,431   286,761   16,034   250,946
58      _  _  _  _
59 Excess (Deficiency) of Revenue Over Expenses     171,526   2,203,807   (123,299)  (3,774)
60 Adjusted Fund Balance 4/01/09 and 4/01/10     13,538,748   11,506,467   13,204,987   13,085,462
61       _  _  _  _
62 Fund Balance 4/30/2009 and 4/30/2010    $ 13,710,274 $ 13,710,274 $ 13,081,688 $ 13,081,688
63      =  =  =  =
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