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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: (August) (August) 
9 Employer Contributions $ 1,401,267 $ 2,806,222 $ 1,393,525 $ 2,786,930
10 Employee Contributions 285,882 573,867 320,548 637,493
11 Wellness Grant 0 0 0 0
12 Dividend Income 34 59 227 441
13 Interest Income 18,204 23,619 4,066 10,416
14 Corporate/Govt Obligations - market value adj 41,473 59,376 (5,187) (7,294)
15 _ _ _ _ 
16 Total Revenues 1,746,860 3,463,143 1,713,179 3,427,986  
17 _ _ _ _ 
18 COST OF BENEFITS PROVIDED:   
19 HMA Premium 23,621 47,293 0 0
20 HMA Claims 891,452 1,963,553 5,171 31,096
21 Sun Life (3,345) (291,693) 0 0
22 ESI Presciptions Paid 208,605 414,642   0 0
23 Pacific Care Premium 383,979 777,157   0 (57,269)
24 Group Health Premium 363,811 726,649 461,107 922,214
25 WEA/APA Insurance 0 0 1,198,218 2,384,138
26 Washington Dental Service Premium   138,192 276,934 0 0
27 Williamette Dental 28,563 57,490 35,719 72,051
28 Metropolitan Life ($50M) Premium 10,790 21,626 9,617 19,240
29 Metropolitan Life (VOL) Premium   16,497 32,986 16,182 32,513
30 Standard Insurance 35,716 71,699 35,531 71,165
31 UNUM LTC 713 1,426 836 1,672
32 Other Benefits 0 0 (551) (551)
33 Alere Wellbeing 0 2,808 0 1,133
34 Magellan Behavior 0 0 0 0
35 HealthForce 0 0 3,280 6,497
36 _ _ _ _ 
37 Cost of Benefits Provided 2,098,593   4,102,569 1,765,110   3,483,899  
38 _ _ _ _ 
39 Excess (Deficiency) of Revenues over Cost of Benefits   (351,733) (639,426) (51,931) (55,913) 
40    _ _ _ _ 
41 ADMINISTRATIVE EXPENSES:   
42 Administration 1,675 3,348 1,701 3,403
43 Wellness Program Salaries 9,887 19,777 6,917 13,886
44 Wellness Program Expenses 0 0 38,366 40,037
45 Audit Fee 0 0 0 0
46 Regulatory Fees 2,075 2,075 0 0
47 Bank Fees 1,280 1,522 1,517 1,539
48 Investment Fees 0 0 2,268 2,268
49 Legal Fees 7,002 9,797 0 2,536
50 Liability Insurance 0 0 450 450
51 Misc. Expense 0 0 0 0
52 Office & Printing 0 0 0 133
53 Consultant Fee 1,712 12,012 4,682 12,394
54 Investment Consultant Fee 0 4,375 0 0
55 Trustee Expense 0 0 0 0
56 _ _ _ _ 
57 Total Administrative Expenses 23,632 52,905 55,902 76,646  
58 _ _ _ _ 
59 Excess(Deficiency) of Revenue Over Expenses (375,365) (692,330) (107,833) (132,559) 
60 Adjusted Fund Balance 8/01/11 and 8/01/12 9,496,135 9,813,100 8,004,898 8,029,624  
61 _ _ _ _ 
62 Fund Balance 8/31/2011 and 8/31/2012 $ 9,120,770 $ 9,120,770 7,897,065 $ 7,897,065  
63 = = = = 
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