1. A
 ABDEFGHIJKLM
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            
5             
6 FOR COMPARISON ONLY
7            
8            
9            
10      Current Month  2008-2009  Current Month  2009-2010
11 REVENUES:     (August)    (August)  
12 Employer Contributions    $ 1,337,723 $ 2,678,766 $ 1,378,968 $ 2,757,649
13 Employee Contributions     227,952   461,932   219,965   440,067
14 Investment Earnings      38,995   73,040   45,628   114,574
15 Net Appreciation of market value     (66,321)  (103,159)  54,521   16,191
16      _  _  _  _
17 Total Revenues     1,538,349   3,110,579   1,699,082   3,328,481
18      _  _  _  _
19 COST OF BENEFITS PROVIDED:             
20 HMA Premium     23,667   47,408   24,508   49,093
21 HMA Claims     513,664   1,212,583   596,250   1,073,760
22 Sun Life     20,113   40,216   21,950   43,938
23 ESI Presciptions Paid     153,000   269,933   131,582   301,864
24 Pacific Care Premium     284,671   569,735   315,082   628,142
25 Group Health Premium     247,735   496,286   262,593   526,362
26 Washington Dental Service Premium      135,557   271,028   133,668   267,766
27 Williamette Dental     25,742   51,416   28,915   58,046
28 Metropolitan Life ($50M) Premium     11,187   22,360   11,135   22,315
29 Metropolitan Life (VOL) Premium      13,896   27,736   14,546   29,108
30 Standard Insurance     38,290   76,541   36,969   74,103
31 UNUM LTC     762   1,626   670   1,339
32 HMA - THM     8,020   16,044   0   0
33 Free & Clear     0   0   0   0
34 Magellan Behavior     0   0   0   0
35 Carena     0   0   0   0
36 Sound Health Solutions     0   0   0   7,438
37 Wellsource Health Solutions     0   0   0   50,085
38      _  _  _  _
39  Cost of Benefits Provided    1,476,303   3,102,912   1,577,869   3,133,357
40              
41      _  _  _  _
42 Excess (Deficiency) of Revenues over Cost of Benefits      62,046   7,667   121,213   195,123
43       _  _  _  _
44            
45 ADMINISTRATIVE EXPENSES:             
46 Administration     1,515   2,946   1,463   2,997
47 Wellness Coordinator Salary     7,384   16,741   7,492   15,005
48 Wellness Program Expenses     1,550   2,375   100   787
49 Audit Fee     1,500   1,500   0   0
50 Regulatory Fees     2,075   2,075   0   2,075
51 Bank Fees     0   0   95   95
52 Legal Fees     0   1,403   0   11,253
53 Liability Insurance     0   0   0   0
54 Misc. Expense      33   66   33   66
55 Office & Printing     0   0   0   0
56 Consultant Fee     1,577   1,577   0   0
57 Investment Consultant Fee     0   0   0   4,375
58 Trustee Expense     57   57   0   0
59      _  _  _  _
60  Total Administrative Expenses    15,690   28,739   9,183   36,653
61      _  _  _  _
62 Excess(Deficiency) of Revenue Over Expenses     46,356   (21,071)  112,031   158,471
63 Adjusted Fund Balance 8/01/08 and 8/01/09     11,439,040   11,506,467   13,348,902   13,302,462
64             
65      _  _  _  _
66 Fund Balance 8/31/2008 and 8/31/2009    $ 11,485,396 $ 11,485,396   13,460,933 $ 13,460,933
67      =  =  =  =
68            
69               
70              
71              
72              
73            
74            
75            
76            
77            
78            
79            
80   
81            
82            
83            
84              

Back to top