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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             
5 FOR COMPARISON ONLY
6            
7      Current Month  2008-2009  Current Month  2009-2010
8 REVENUES:     (March)    (March)  
9 Employer Contributions    $ 1,395,252 $ 13,203,474 $ 1,607,668 $ 12,893,456
10 Employee Contributions     222,609   2,036,805   10,187   1,758,337
11 Investment Earnings      36,284   524,563   (6,995)  42,162
12 Net Appreciation of market value     89,971   18,244   8,216   288,485
13      _  _  _  _
14 Total Revenues     1,744,116   15,783,087   1,619,077   14,982,439
15      _  _  _  _
16 COST OF BENEFITS PROVIDED:             
17 HMA Premium     24,813   216,118   24,886   220,151
18 HMA Claims     461,965   4,909,019   676,250   5,378,353
19 SunLife     15,377   143,176   (186,854)  1,174
20 Other Benefits     0   1,313   0   (553)
21 ESI Prescriptions Paid     104,373   1,125,981   187,380   1,442,058
22 Pacific Care Premium     313,072   2,660,666   355,740   2,936,580
23 Group Health Premium     261,025   2,293,109   298,432   2,452,465
24 Washington Dental Service Premium      135,299   1,215,722   140,494   1,243,001
25 Williamette Dental     29,274   250,871   28,563   258,854
26 Metropolitan Life ($50M) Premium     11,271   100,737   11,044   99,548
27 Metropolitan Life (VOL) Premium      14,068   123,352   15,099   131,921
28 Standard Insurance     37,483   340,663   36,600   330,095
29 UNUM LTC     919   7,826   670   6,026
30 HMA - THM     0   47,872   0   0
31 Free & Clear     0   9,125   0   1,637
32 Magellan Behavior     14,082   28,164   0   28,164
33 Carena     450   450   0   4,383
34 Sound Health Solutions     5,313   5,313   0   35,063
35 Wellsource Health Solutions     0   0   0   59,085
36      _  _  _  _
37  Cost of Benefits Provided    1,428,783   13,479,476   1,588,303   14,628,003
38      _  _  _  _
39 Excess (Deficiency) of Revenues over Cost of Benefits      315,333   2,303,611   30,775   354,437
40       _  _  _  _
41            
42 ADMINISTRATIVE EXPENSES:             
43 Administration     1,536   13,669   1,629   14,967
44 Wellness Coordinator Salary     7,495   69,099   8,059   70,992
45 Wellness Coordinator Expenses     1,527   16,475   4,455   37,035
46 Audit Fee     0   8,950   0   8,950
47 Regulatory Fees     0   4,150   0   4,150
48 Bank Fees     77   77   40   2,449
49 Investment Fees     0   0   0   18,436
50 Legal Fees     20,914   87,640   6,427   50,466
51 Liability Insurance     0   8,700   0   9,150
52 Misc. Expense      33   679   33   273
53 Office & Printing     0   98   0   544
54 Consultant Fee     0   57,290   0   0
55 Investment Consultant Fee     0   4,375   4,375   17,500
56 Trustee Expense     0   128   0   0
57      _  _  _  _
58  Total Administrative Expenses    31,582   271,330   25,017   234,912
59      _  _  _  _
60 Excess(Deficiency) of Revenue Over Expenses     283,751   2,032,281   5,758   119,525
61 Adjusted Fund Balance 3/01/09 and 3/01/10     13,254,997   11,506,467   12,749,821   13,085,462
62      _  _  _  _
63 Fund Balance 3/31/2009 and 3/31/2010    $ 13,538,748 $ 13,538,748   12,755,579 $ 13,204,987
64      =  =  =  =
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