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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:      (March)   
8 Employer Contributions     $ 1,391,448 $ 12,503,477  
9 Employee Contributions      318,761   2,667,155  
10 Dividend Income      295   2,266  
11 Interest Income      15,112   138,236  
12 Corporate/Govt Obligations - market value adj      (6,015)  12,828  
13       _  _ 
14 Total Revenues      1,719,601   15,323,962  
15       _  _ 
16 COST OF BENEFITS PROVIDED:           
17 HMA Premium      0   179,667  
18 HMA Claims      92,667   5,302,718  
19 SunLife      55,169   (244,978) 
20 ESI Prescriptions Paid      (36,693)  1,333,916  
21 Pacific Care Premium      0   2,333,408  
22 Group Health Premium      462,567   3,543,778  
23 WEA/APA Insurance      1,195,315   3,587,155  
24 Washington Dental Service Premium       0   804,538  
25 Williamette Dental      35,949   282,521  
26 Metropolitan Life ($50M) Premium      9,593   93,501  
27 Metropolitan Life (VOL) Premium       15,159   144,406  
28 Standard Insurance      35,428   317,703  
29 UNUM LTC      950   6,662  
30 Alere Wellbeing      0   4,445  
31 Magellan Behavior      0   37,889  
32 Carena      0   0  
33 HealthForce      9,866   36,344  
34       _  _ 
35  Cost of Benefits Provided     1,875,970   17,763,672  
36       _  _ 
37 Excess (Deficiency) of Revenues over Cost of Benefits       (156,369)  (2,439,710) 
38        _  _ 
39 ADMINISTRATIVE EXPENSES:          
40 Administration      4,851   18,424  
41 Wellness Program Salaries      7,751   79,633  
42 Wellness Program Expenses      2,367   85,365  
43 Audit Fee      0   10,470  
44 Regulatory Fees      0   2,075  
45 Bank Fees      0   3,884  
46 Investment Fees      0   12,995  
47 Legal Fees      2,294   31,888  
48 Liability Insurance      0   4,051  
49 Misc. Expense       0   99  
50 Office & Printing      9   4,693  
51 Consultant Fee      0   68,733  
52 Investment Consultant Fee      4,375   17,500  
53 Trustee Expense      0   13  
54       _  _ 
55  Total Administrative Expenses     21,647   339,823  
56       _  _ 
57 Excess(Deficiency) of Revenue Over Expenses      (178,016)  (2,779,533) 
58 Adjusted Fund Balance 3/01/12      8,329,288   10,930,805  
59       _  _ 
60 Fund Balance 3/31/2012     $ 8,151,272 $ 8,151,272  
61       =  = 
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