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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:      (January)     
8 Employer Contributions     $ 1,388,301 $ 9,703,001    
9 Employee Contributions      318,250   2,030,609    
10 Dividend Income      595   1,492    
11 Interest Income      4,628   119,249    
12 Corporate/Govt Obligations - market value adj      (7,846)  22,193    
13       _  _   
14 Total Revenues      1,703,927   11,876,544    
15       _  _   
16 COST OF BENEFITS PROVIDED:             
17 HMA Premium      0   179,667    
18 HMA Claims      651,816   4,928,603    
19 SunLife      (41,078)  (264,392)   
20 ESI Prescriptions Paid      90,409   1,370,609    
21 Pacific Care Premium      0   2,333,408    
22 Group Health Premium      457,702   2,608,427    
23 WEA/APA Insurance      1,188,835   1,188,835    
24 Washington Dental Service Premium       0   804,538    
25 Williamette Dental      36,409   211,383    
26 Metropolitan Life ($50M) Premium      10,556   74,308    
27 Metropolitan Life (VOL) Premium       15,776   113,241    
28 Standard Insurance      35,305   246,949    
29 UNUM LTC      713   4,990    
30 Alere Wellbeing      0   4,445    
31 Magellan Behavior      9,724   37,889    
32 Carena      0   0    
33 HealthForce      0   26,478    
34 Wellsource Health Solutions      0   0    
35       _  _   
36  Cost of Benefits Provided     2,456,167   13,869,378    
37       _  _   
38 Excess (Deficiency) of Revenues over Cost of Benefits       (752,240)  (1,992,833)   
39        _  _   
40 ADMINISTRATIVE EXPENSES:            
41 Administration      1,736   11,868    
42 Wellness Program Salaries      8,437   63,429    
43 Wellness Program Expenses      60,526   80,789    
44 Audit Fee      0   10,470    
45 Regulatory Fees      0   2,075    
46 Bank Fees      0   2,776    
47 Investment Fees      0   8,831    
48 Legal Fees      3,138   28,150    
49 Liability Insurance      4,051   4,051    
50 Misc. Expense       30   99    
51 Office & Printing      53   4,674    
52 Consultant Fee      0   68,733    
53 Investment Consultant Fee      0   13,125    
54 Trustee Expense      0   13    
55       _  _   
56  Total Administrative Expenses     77,972   299,083    
57       _  _   
58 Excess(Deficiency) of Revenue Over Expenses      (830,212)  (2,291,916)   
59 Adjusted Fund Balance 1/01/12      9,094,759   10,556,464    
60       _  _   
61 Fund Balance 1/31/2012     $ 8,264,547 $ 8,264,547    
62       =  =   
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