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1 EVERETT SCHOOL EMPLOYEE BENEFIT TRUST
2 STATEMENT OF OPERATIONS AND FUND BALANCE
3 For the Year Ended June 30, 2012
4          
5          
6       Current Month  2011-2012 
7 REVENUES:      (February)   
8 Employer Contributions     $ 1,409,029 $ 11,112,029  
9 Employee Contributions      317,784   2,348,394  
10 Dividend Income      480   1,971  
11 Interest Income      3,875   123,124  
12 Corporate/Govt Obligations - market value adj      (3,351)  18,843  
13       _  _ 
14 Total Revenues      1,727,817   13,604,361  
15       _  _ 
16 COST OF BENEFITS PROVIDED:           
17 HMA Premium      0   179,667  
18 HMA Claims      281,447   5,210,051  
19 SunLife      (35,755)  (300,147) 
20 ESI Prescriptions Paid      0   1,370,609  
21 Pacific Care Premium      0   2,333,408  
22 Group Health Premium      472,784   3,081,211  
23 WEA/APA Insurance      1,203,005   2,391,840  
24 Washington Dental Service Premium       0   804,538  
25 Williamette Dental      35,190   246,573  
26 Metropolitan Life ($50M) Premium      9,599   83,907  
27 Metropolitan Life (VOL) Premium       16,007   129,247  
28 Standard Insurance      35,325   282,275  
29 UNUM LTC      722   5,712  
30 Alere Wellbeing      0   4,445  
31 Magellan Behavior      0   37,889  
32 Carena      0   0  
33 HealthForce      0   26,478  
34 Wellsource Health Solutions      0   0  
35       _  _ 
36  Cost of Benefits Provided     2,018,324   15,887,702  
37       _  _ 
38 Excess (Deficiency) of Revenues over Cost of Benefits       (290,507)  (2,283,340) 
39        _  _ 
40 ADMINISTRATIVE EXPENSES:          
41 Administration      1,705   13,573  
42 Wellness Program Salaries      8,453   71,882  
43 Wellness Program Expenses      2,209   82,998  
44 Audit Fee      0   10,470  
45 Regulatory Fees      0   2,075  
46 Bank Fees      1,108   3,884  
47 Investment Fees      4,164   12,995  
48 Legal Fees      1,444   29,594  
49 Liability Insurance      0   4,051  
50 Misc. Expense       0   99  
51 Office & Printing      10   4,684  
52 Consultant Fee      0   68,733  
53 Investment Consultant Fee      0   13,125  
54 Trustee Expense      0   13  
55       _  _ 
56  Total Administrative Expenses     19,094   318,176  
57       _  _ 
58 Excess(Deficiency) of Revenue Over Expenses      (309,600)  (2,601,517) 
59 Adjusted Fund Balance 2/01/12      8,545,995   10,837,911  
60       _  _ 
61 Fund Balance 2/29/2012     $ 8,236,395 $ 8,236,395  
62       =  = 
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