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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:      (October)   
8 Employer Contributions     $ 1,376,390 $ 5,547,920  
9 Employee Contributions      271,449   1,120,575  
10 Dividend Income      96   185  
11 Interest Income      33,147   82,149  
12 Corporate/Govt Obligations - market value adj      (14,387)  50,120  
13       _  _ 
14 Total Revenues      1,666,695   6,800,950  
15       _  _ 
16 COST OF BENEFITS PROVIDED:           
17 HMA Premium      22,524   93,386  
18 HMA Claims      603,044   3,345,487  
19 SunLife      38,897   (256,081) 
20 ESI Prescriptions Paid      227,973   842,019  
21 Pacific Care Premium      391,242   1,552,861  
22 Group Health Premium      356,019   1,442,096  
23 Washington Dental Service Premium       129,153   544,003  
24 Williamette Dental      29,587   115,494  
25 Metropolitan Life ($50M) Premium      10,472   42,673  
26 Metropolitan Life (VOL) Premium       16,032   65,052  
27 Standard Insurance      34,545   141,261  
28 UNUM LTC      713   2,851  
29 Alere Wellbeing      411   3,218  
30 Magellan Behavior      14,082   28,164  
31 Carena      0   0  
32 HealthForce      8,956   13,344  
33 Wellsource Health Solutions      0   0  
34       _  _ 
35  Cost of Benefits Provided     1,883,648   7,975,829  
36       _  _ 
37 Excess (Deficiency) of Revenues over Cost of Benefits       (216,953)  (1,174,878) 
38        _  _ 
39 ADMINISTRATIVE EXPENSES:          
40 Administration      1,703   6,726  
41 Wellness Program Salaries      8,456   38,113  
42 Wellness Program Expenses      772   2,175  
43 Audit Fee      0   3,589  
44 Regulatory Fees      0   2,075  
45 Bank Fees      62   1,661  
46 Investment Fees      0   4,553  
47 Legal Fees      1,931   12,758  
48 Liability Insurance      0   0  
49 Misc. Expense       0   69  
50 Office & Printing      0   2,813  
51 Consultant Fee      16,869   68,733  
52 Investment Consultant Fee      0   8,750  
53 Trustee Expense      13   13  
54       _  _ 
55  Total Administrative Expenses     29,806   152,028  
56       _  _ 
57 Excess(Deficiency) of Revenue Over Expenses      (246,759)  (1,326,906) 
58 Adjusted Fund Balance 10/01/11      8,732,953   9,813,100  
59       _  _ 
60 Fund Balance 10/31/2011     $ 8,486,194 $ 8,486,194  
61       =  = 
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