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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  2008-2009  Current Month  2009-2010
10 REVENUES:     (February)    (February)  
11 Employer Contributions    $ 1,401,147 $ 11,808,223 $ 1,589,745 $ 11,285,787
12 Employee Contributions     220,526   1,814,196   219,239   1,748,150
13 Investment Earnings      51,453   488,278   (8,192)  49,157
14 Net Appreciation (Depreciation) of market value     (42,537)  (71,726)  51,575   280,268
15      _  _  _  _
16 Total Revenues     1,630,590   14,038,970   1,852,368   13,363,362
17      _  _  _  _
18 COST OF BENEFITS PROVIDED:             
19 HMA Premium     24,687   191,305   24,732   195,265
20 HMA Claims     390,970   4,447,054   249,501   4,702,103
21 Sun Life     20,447   127,799   27,808   188,028
22 Other Benefits     1,313   1,313   0   (553)
23 ESI Prescriptions Paid     119,259   1,021,608   194,154   1,254,678
24 Pacific Care Premium     309,824   2,347,594   356,751   2,580,840
25 Group Health Premium     260,209   2,032,083   296,704   2,154,033
26 Washington Dental Service Premium      135,557   1,080,423   141,401   1,102,507
27 Williamette Dental     29,059   221,597   28,563   230,292
28 Metropolitan Life ($50M) Premium     11,297   89,466   11,031   88,504
29 Metropolitan Life (VOL) Premium      12,560   109,284   14,773   116,821
30 Standard Insurance     37,504   303,180   36,558   293,495
31 UNUM LTC     919   6,907   670   5,356
32 HMA - THM     0   47,872   0   0
33 Free & Clear     0   9,125   0   1,637
34 Magellan Behavior     0   14,082   0   28,164
35 Carena     0   0   450   4,383
36 Sound Health Solutions     0   0   0   35,063
37 Wellsource Health Solutions     0   0   0   59,085
38      _  _  _  _
39  Cost of Benefits Provided    1,353,603   12,050,693   1,383,095   13,039,700
40            
41      _  _  _  _
42 Excess (Deficiency) of Revenues over Cost of Benefits      276,987   1,988,278   469,273   323,662
43       _  _  _  _
44            
45 ADMINISTRATIVE EXPENSES:           
46 Administration     1,535   12,133   1,603   13,338
47 Wellness Coordinator Salary     7,504   61,604   8,061   62,934
48 Wellness Coordinator Expenses     1,241   14,948   590   32,580
49 Audit Fee     0   8,950   0   8,950
50 Regulatory Fees     0   4,150   0   4,150
51 Bank Charges     0   0   1,661   2,409
52 Investment Fees     0   0   7,916   18,436
53 Legal Fees     0   66,726   0   44,039
54 Liability Insurance     8,700   8,700   0   9,150
55 Misc. Expense      33   646   33   240
56 Office & Printing     0   98   0   544
57 Consultant Fee     0   57,290   0   0
58 Investment Consultant Fee     0   4,375   0   13,125
59 Trustee Expense     0   128   0   0
60      _  _  _  _
61  Total Administrative Expenses    19,013   239,748   19,864   209,895
62      _  _  _  _
63 Excess(Deficiency) of Revenue Over Expenses     257,974   1,748,530   449,409   113,768
64 Adjusted Fund Balance 2/01/09 and 2/01/10     12,997,023   11,506,467   12,749,821   13,085,462
65             
66      _  _  _  _
67 Fund Balance 2/28/2009 and 2/28/2010    $ 13,254,997 $ 13,254,997   13,199,230 $ 13,199,230
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