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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
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7            
8      Current Month  2008-2009  Current Month  2009-2010
9 REVENUES:     (October)    (October)  
10 Employer Contributions    $ 1,396,977 $ 5,459,501 $ 1,388,348 $ 5,530,230
11 Employee Contributions     230,315   919,538   215,385   872,190
12 Investment Earnings      40,714   157,714   (9,880)  61,993
13 Net Appreciation (Depreciation) of market value     (76,876)  (174,213)  51,354   105,546
14      _  _  _  _
15 Total Revenues     1,591,129   6,362,540   1,645,208   6,569,959
16      _  _  _  _
17 COST OF BENEFITS PROVIDED:             
18 HMA Premium     23,275   94,448   23,974   97,626
19 HMA Claims     493,426   2,320,171   613,558   2,548,213
20 SunLife     (14,752)  45,376   21,792   87,878
21 ESI Prescriptions Paid     145,927   515,616   183,395   618,521
22 Pacific Care Premium     289,383   1,144,575   309,824   1,252,239
23 Group Health Premium     252,632   997,062   257,890   1,044,493
24 Washington Dental Service Premium      133,068   539,310   139,730   541,165
25 Williamette Dental     28,198   105,219   29,147   115,893
26 Metropolitan Life ($50M) Premium     11,187   44,317   11,024   44,376
27 Metropolitan Life (VOL) Premium      13,957   55,060   14,514   58,327
28 Standard Insurance     38,123   151,479   36,558   147,323
29 UNUM LTC     898   3,286   670   2,678
30 HMA - THM     7,992   31,744   0   0
31 Free & Clear     0   0   0   0
32 Magellan Behavior     0   0   0   14,082
33 Carena     0   0   0   0
34 Sound Health Solutions     0   0   5,313   30,813
35 Wellsource Health Solutions     0   0   0   50,085
36      _  _  _  _
37  Cost of Benefits Provided    1,423,314   6,047,662   1,647,388   6,653,711
38               
39      _  _  _  _
40 Excess (Deficiency) of Revenues over Cost of Benefits      167,815   314,878   (2,180)  (83,752)
41               
42            
43 ADMINISTRATIVE EXPENSES:           
44 Administration     1,534   5,995   1,441   7,415
45 Wellness Coordinator Salary     7,496   31,619   8,104   30,587
46 Wellness Coordinator Expenses     1,959   6,097   18,810   22,143
47 Audit Fee     7,450   8,950   3,475   5,475
48 Regulatory Fees     0   2,075   0   2,075
49 Bank Fees     0   0   0   0
50 Investment Fees     0   0   2,544   2,544
51 Legal Fees     20,653   22,055   9,120   23,727
52 Liability Insurance     0   0   0   0
53 Misc. Expense      33   165   33   99
54 Office & Printing     0   0   0   21
55 Consultant Fee     18,098   41,616   0   0
56 Investment Consultant Fee     0   0   0   8,750
57 Trustee Expense     0   57   0   0
58      _  _  _  _
59  Total Administrative Expenses    57,223   118,629   43,526   102,836
60      _  _  _  _
61 Excess(Deficiency) of Revenue Over Expenses     110,592   196,250 $ (45,707)  (186,588)
62 Adjusted Fund Balance 10/01/08 and 10/1/09     11,592,125   11,506,467   13,161,581   13,302,462
63             
64      _  _  _  _
65 Fund Balance 10/31/2008 and 10/31/2009    $ 11,702,717 $ 11,702,717   13,115,874 $ 13,115,874
66      =  =  =  =
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