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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:     (November)    (November)  
9 Employer Contributions    $ 1,398,212 $ 6,857,714   1,384,680 $ 6,914,909
10 Employee Contributions     232,591   1,152,130   214,890   1,087,081
11 Investment Earnings      73,558   231,272   (4,953)  57,040
12 Net Appreciation of market value     163,681   (10,532)  115,372   220,918
13      _  _  _  _
14 Total Revenues     1,868,043   8,230,583   1,709,989   8,279,948
15      _  _  _  _
16 COST OF BENEFITS PROVIDED:             
17 HMA Premium     23,667   118,115   24,050   121,676
18 HMA Claims     797,121   3,117,292   523,294   3,071,507
19 SunLife     20,020   65,395   21,874   109,752
20 ESI Prescriptions Paid     124,241   639,858   128,536   747,057
21 Pacific Care Premium     293,310   1,437,884   307,397   1,559,636
22 Group Health Premium     257,530   1,254,592   260,633   1,305,127
23 Washington Dental Service Premium      135,471   674,782   139,315   680,480
24 Williamette Dental     28,915   134,134   28,928   144,821
25 Metropolitan Life ($50M) Premium     11,258   55,575   11,057   55,432
26 Metropolitan Life (VOL) Premium      14,154   69,213   14,605   72,932
27 Standard Insurance     38,323   189,801   36,579   183,902
28 UNUM LTC     913   4,199   670   3,348
29 HMA - THM     8,064   39,808   0   0
30 Free & Clear     9,125   9,125   0   0
31 Magellan Behavior     0   0   0   14,082
32 Carena     0   0   1,824   1,824
33 Sound Health Solutions     0   0   2,125   32,938
34 Wellsource Health Solutions     0   0   0   50,085
35      _  _  _  _
36  Cost of Benefits Provided    1,762,111   7,809,773   1,500,887   8,154,598
37              
38      _  _  _  _
39 Excess (Deficiency) of Revenues over Cost of Benefits      105,931   420,809   209,102   125,350
40       _  _  _  _
41            
42 ADMINISTRATIVE EXPENSES:           
43 Administration     1,534   7,529   1,440   8,855
44 Wellness Coordinator Salary     7,509   39,128   8,104   38,691
45 Wellness Program Expenses     3,734   9,832   4,263   26,406
46 Audit Fee     0   8,950   3,475   8,950
47 Regulatory Fees     0   2,075   0   2,075
48 Bank Fees     220   220   709   709
49 Investment Fees     0   0   7,976   10,520
50 Legal Fees     5,330   27,385   5,550   29,277
51 Liability Insurance     0   0   450   450
52 Misc. Expense      383   548   33   132
53 Office & Printing     0   0   44   65
54 Consultant Fee     15,674   57,290   0   0
55 Investment Consultant Fee     0   0   0   8,750
56 Trustee Expense     0   57   0   0
57      _  _  _  _
58  Total Administrative Expenses    34,384   153,012   32,044   134,880
59      _  _  _  _
60 Excess(Deficiency) of Revenue Over Expenses     71,547   267,797   177,058   (9,530)
61 Adjusted Fund Balance 11/01/08 and 11/01/09     11,702,717   11,506,467   13,115,874   13,302,462
62             
63      _  _  _  _
64 Fund Balance 11/30/2008 and 11/30/2009    $ 11,774,264 $ 11,774,264   13,292,932 $ 13,292,932
65      =  =  =  =
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