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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
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5 FOR COMPARISON ONLY
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9      Current Month  2008-2009  Current Month  2009-2010
10 REVENUES:     (January)    (January)  
11 Employer Contributions    $ 2,148,986 $ 10,407,075 $ 1,391,606 $ 9,696,042
12 Employee Contributions     220,817   1,593,670   225,056   1,528,910
13 Investment Earnings      64,161   436,825   5,695   57,349
14 Net Appreciation of market value     (25,553)  (29,190)  72,643   228,693
15      _  _  _  _
16 Total Revenues     2,408,411   12,408,381   1,695,000   11,510,994
17      _  _  _  _
18 COST OF BENEFITS PROVIDED:             
19 HMA Premium     24,813   166,619   24,730   170,533
20 HMA Claims     496,737   4,056,084   880,068   4,452,602
21 Sun Life     21,938   107,353   27,696   160,220
22 Other Benefits     0   0   0   (553)
23 ESI Prescriptions Paid     167,029   902,350   186,076   1,060,523
24 Pacific Care Premium     306,184   2,037,770   356,650   2,224,088
25 Group Health Premium     262,201   1,771,874   295,488   1,857,329
26 Washington Dental Service Premium      135,729   944,866   140,857   961,106
27 Williamette Dental     29,202   192,539   28,416   201,729
28 Metropolitan Life ($50M) Premium     11,291   78,169   11,031   77,474
29 Metropolitan Life (VOL) Premium      13,856   96,723   14,434   102,049
30 Standard Insurance     37,442   265,676   36,558   256,937
31 UNUM LTC     919   5,989   670   4,687
32 HMA - THM     0   47,872   0   0
33 Free & Clear     0   9,125   1,637   1,637
34 Magellan Behavior     14,082   14,082   14,082   28,164
35 Carena      0   0   2,109   3,933
36 Sound Health Solutions     0   0   1,063   35,063
37 Wellsource Health Solutions     0   0   9,000   59,085
38      _  _  _  _
39  Cost of Benefits Provided    1,521,422   10,697,090   2,030,565   11,656,605
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41      _  _  _  _
42 Excess (Deficiency) of Revenues over Cost of Benefits      886,990   1,711,291   (335,565)  (145,610)
43       _  _  _  _
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45 ADMINISTRATIVE EXPENSES:           
46 Administration     1,534   10,597   1,440   11,735
47 Wellness Coordinator Salary     7,490   54,100   8,091   54,873
48 Wellness Coordinator Expenses     3,393   13,707   2,762   31,990
49 Audit Fee     0   8,950   0   8,950
50 Regulatory Fees     2,075   4,150   2,075   4,150
51 Bank Fees     0   0   5   748
52 Investment Fees         0   10,520
53 Legal Fees     23,600   66,726   5,915   44,039
54 Liability Insurance     0   0   8,700   9,150
55 Misc. Expense      33   613   42   207
56 Office & Printing     0   98   22   544
57 Consultant Fee     0   57,290   0   0
58 Investment Consultant Fee     4,375   4,375   0   13,125
59 Trustee Expense     71   128   0   0
60      _  _  _  _
61  Total Administrative Expenses    42,571   220,735   29,052   190,031
62      _  _  _  _
63 Excess(Deficiency) of Revenue Over Expenses     844,419   1,490,556   (364,617)  (335,641)
64 Adjusted Fund Balance 1/01/09 and 1/01/10     12,152,604   11,506,467   13,114,438   13,085,462
65             
66      _  _  _  _
67 Fund Balance 1/31/2009 and 1/31/2010    $ 12,997,023 $ 12,997,023   12,749,821 $ 12,749,821
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