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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:     (May)    (May)  
9 Employer Contributions    $ 1,391,934 $ 15,988,457 $ 1,392,787 $ 15,680,141
10 Employee Contributions     219,831   2,473,911   226,114   2,206,458
11 Investment Earnings      15,657   591,233   (9,382)  24,150
12 Net Appreciation of market value     (53,757)  (27,021)  68,044   424,655
13      _  _  _  _
14 Total Revenues     1,573,665   19,026,580   1,677,563   18,335,405
15      _  _  _  _
16 COST OF BENEFITS PROVIDED:             
17 HMA Premium     24,636   265,238   24,782   269,741
18 HMA Claims     832,451   6,199,687   627,004   6,610,551
19 Other Benefits     6,252   7,564   27,865   (1,391)
20 SunLife     22,028   187,349   0   (553)
21 ESI Prescriptions Paid     126,932   1,428,093   195,759   1,922,036
22 Pacific Care Premium     313,869   3,284,775   358,572   3,648,717
23 Group Health Premium     264,553   2,817,495   296,352   3,046,897
24 Washington Dental Service Premium      134,012   1,484,690   142,399   1,527,164
25 Williamette Dental     29,346   309,419   28,124   314,884
26 Metropolitan Life ($50M) Premium     11,258   123,253   11,024   121,609
27 Metropolitan Life (VOL) Premium      12,700   150,253   15,403   162,496
28 Standard Insurance     37,401   415,485   36,620   403,314
29 UNUM LTC     670   8,916   670   7,365
30 HMA - THM     0   47,872   0   0
31 Free & Clear     0   9,125   0   1,637
32 Magellan Behavior     0   28,164   0   42,246
33 Carena     4,888   5,338   0   4,383
34 Sound Health Solutions     0   10,625   0   35,063
35 Wellsource Health Solutions     21,465   21,465   0   59,085
36      _  _  _  _
37  Cost of Benefits Provided    1,842,459   16,804,806   1,764,574   18,175,243
38            
39      _  _  _  _
40 Excess (Deficiency) of Revenues over Cost of Benefits      (268,794)  2,221,774   (87,011)  160,162
41             
42      _  _  _  _
43 ADMINISTRATIVE EXPENSES:           
44 Administration     1,544   16,749   1,629   18,226
45 Wellness Coordinator Salary     7,507   84,112   8,072   87,131
46 Wellness Coordinator Expenses     8,276   25,969   3,988   44,510
47 Audit Fee     0   8,950   0   8,950
48 Regulatory Fees     0   4,150   0   4,150
49 Bank Fees     0   0   0   2,449
50 Investment Fees     0   0   (1,934)  16,502
51 Legal Fees     3,375   91,840   786   53,959
52 Liability Insurance     0   8,700   0   9,150
53 Misc. Expense      33   745   66   339
54 Office & Printing     0   98   0   686
55 Consultant Fee     0   57,290   0   0
56 Investment Consultant Fee     0   8,750   0   17,500
57 Trustee Expense     0   145   0   0
58      _  _  _  _
59  Total Administrative Expenses    20,736   307,497   12,605   263,551
60      _  _  _  _
61 Excess(Deficiency) of Revenue Over Expenses     (289,530)  1,914,277   (99,616)  (103,390)
62 Adjusted Fund Balance 5/01/09 and 5/01/10     13,710,274   11,506,467   13,081,688   13,085,462
63             
64      _  _  _  _
65 Fund Balance 5/31/2009 and 5/31/2010    $ 13,420,744 $ 13,420,744   12,982,072 $ 12,982,072
66      =  =  =  =
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