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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 and June 30, 2013
4
5 FOR COMPARISON ONLY
6
7 Current Month 2011-2012 Current Month 2012-2013
8 REVENUES: (July) (July)
9 Employer Contributions $ 1,404,955 $ 1,404,955 $ 1,393,405 $ 1,393,405
10 Employee Contributions 287,986 287,986 316,945 316,945
11 Wellness Grant 0 0 0 0
12 Dividend Income 25 25 214 214
13 Interest Income 5,416 5,416 6,350 6,350
14 Corporate/Govt Obligations - market value adj 17,903 17,903 (2,106) (2,106)
15 _ _ _ _
16 Total Revenues 1,716,284 1,716,284 1,714,808 1,714,808
17 _ _ _ _
18 COST OF BENEFITS PROVIDED:  
19 HMA Premium 23,673 23,673 0 0
20 HMA Claims 1,072,101 1,072,101 25,925 25,925
21 SunLife (288,348) (288,348) 0 0
22 ESI Presciptions Paid 206,037 206,037 0 0
23 Pacific Care Premium 393,179 393,179   (57,269) (57,269)
24 Group Health Premium 362,837 362,837 461,107 461,107
25 WEA/APA Insurance 0 0 1,185,920 1,185,920
26 Washington Dental Service Premium   138,742 138,742 0 0
27 Williamette Dental 28,928 28,928 36,332 36,332
28 Metropolitan Life ($50M) Premium 10,836 10,836 9,623 9,623
29 Metropolitan Life (VOL) Premium   16,488 16,488 16,331 16,331
30 Standard Insurance 35,983 35,983 35,634 35,634
31 UNUM LTC 713 713 836 836
32 Alere Wellbeing 2,808 2,808 1,133 1,133
33 Magellan Behavior 0 0 0 0
34 HealthForce 0 0 3,218 3,218
35 _ _ _ _
36 Cost of Benefits Provided 2,003,976   2,003,976 1,718,790   1,718,790
37 _ _ _ _
38 Excess (Deficiency) of Revenues over Cost of Benefits   (287,692) (287,692) (3,982) (3,982)
39    _ _ _ _
40 ADMINISTRATIVE EXPENSES:   
41 Administration 1,673 1,673   1,702 1,702
42 Wellness Program Salaries 9,889 9,889   6,968 6,968
43 Wellness Program Expenses 0 0   1,670 1,670
44 Audit Fee 0 0   0 0
45 Regulatory Fees 0 0 0 0
46 Bank Fees 242 242 22 22
47 Investment Fees 0 0 0 0
48 Legal Fees 2,795 2,795 2,536 2,536
49 Liability Insurance 0 0 0 0
50 Misc. Expense 0 0 0 0
51 Office & Printing 0 0 133 133
52 Consultant Fee 10,300 10,300 7,712 7,712
53 Investment Consultant Fee 4,375 4,375 0 0
54 Trustee Expense 0 0 0 0
55 _ _ _ _
56 Total Administrative Expenses 29,273 29,273 20,744 20,744
57 _ _ _ _
58 Excess(Deficiency) of Revenue Over Expenses (316,966) (316,966) (24,726) (24,726)
59 Adjusted Fund Balance 7/01/11 and 7/01/12 9,813,100   9,813,100 8,024,453 8,024,453
60   _ _ _ _
61 Fund Balance 7/31/2011 and 7/31/2012 $ 9,496,135 $ 9,496,135 $ 7,999,727 $ 7,999,727
62 = = = =
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