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1 EVERETT SCHOOL EMPLOYEE BENEFIT TRUST
2 STATEMENT OF OPERATIONS AND FUND BALANCE
3 For the Year Ended June 30, 2011 and June 30, 2012
4
5 FOR COMPARISON ONLY
6
7 Current Month 2010-2011 Current Month 2011-2012
8 REVENUES: (May) (May)
9 Employer Contributions $ 1,419,854 $ 15,493,606 $ 1,400,745 $ 15,297,050
10 Employee Contributions 285,204 2,843,540 317,066 3,299,599
11 Dividend Income 50 5,094 253 2,781
12 Interest Income 37,178 256,466 19,664 168,370
13 Corporate/Govt Obligations - market value adj 23,846 (66,126) (6,353) 2,457
14 _ _ _ _
15 Total Revenues 1,766,133 18,532,580 1,731,375 18,770,256
16 _ _ _ _
17 COST OF BENEFITS PROVIDED:    
18 HMA Premium 23,803 265,545 0 179,667
19 HMA Claims 826,029 8,145,145 41,489 5,429,073
20 SunLife 42,857 (316,134) 0 (244,978)
21 ESI Prescriptions Paid 216,505 2,328,357   358 1,334,393
22 Pacific Care Premium 395,600 4,104,108   0 2,333,408
23 Group Health Premium 365,273 3,639,577 459,162 4,458,695
24 WEA/APA Insurance 0 0 1,193,044 5,978,840
25 Washington Dental Service Premium   139,567 1,532,586 0 804,538
26 Williamette Dental 29,001 318,060 35,949 354,649
27 Metropolitan Life ($50M) Premium 10,881 119,454 9,593 112,682
28 Metropolitan Life (VOL) Premium   16,317 173,346 16,124 176,724
29 Standard Insurance 36,168 397,170 35,531 388,724
30 UNUM LTC 713 6,885 722 8,334
31 Alere Wellbeing 0 43,773 817 5,669
32 Magellan Behavior 0 56,328 0 47,613
33 Carena 0 1,800 0 0
34 HealthForce 0 18,362 3,202 43,257
35 _ _ _ _
36 Cost of Benefits Provided 2,102,713   20,834,363 1,795,991   21,411,287
37 _ _ _ _
38 Excess (Deficiency) of Revenues over Cost of Benefits   (336,581) (2,301,784) (64,615) (2,641,031)
39    _ _ _ _
40 ADMINISTRATIVE EXPENSES:    
41 Administration 1,674 18,351 1,704 21,833
42 Wellness Program Salaries 9,900 105,217 7,378 95,104
43 Wellness Program Expenses 1,510 46,382 2,696 90,437
44 Audit Fee 0 9,142 0 10,470
45 Regulatory Fees 0 4,150 0 2,075
46 Bank Fees 1,405 7,298 298 4,182
47 Investment Fees 4,689 20,308 2,420 15,415
48 Legal Fees 5,457 47,457 6,024 42,260
49 Liability Insurance 0 5,582 0 4,051
50 Misc. Expense 0 298 0 99
51 Office & Printing 0 1,172 0 4,693
52 Consultant Fee 0 25,613 0 68,733
53 Investment Consultant Fee 0 13,125 0 17,500
54 Trustee Expense 0 70 0 13
55 _ _ _ _
56 Total Administrative Expenses 24,635 304,165 20,520 376,864
57 _ _ _ _
58 Excess(Deficiency) of Revenue Over Expenses (361,215) (2,605,948) (85,136) (3,017,896)
59 Adjusted Fund Balance 5/01/11 and 5/01/12 10,483,370 12,728,103 8,124,878 11,057,638
60   _ _ _ _
61 Fund Balance 5/31/2011 and 5/31/2012 $ 10,122,155 $ 10,122,155 8,039,742 $ 8,039,742
62 = = = =
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