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1 EVERETT SCHOOL EMPLOYEE BENEFIT TRUST
2 STATEMENT OF OPERATIONS AND FUND BALANCE
3 For the Year Ended June 30, 2019 and June 30, 2020
4
5 FOR COMPARISON ONLY
6   
7 Current Month 2018-2019 Current Month 2019-2020
8 REVENUES: (September) (September)
9 Employer Contributions $ 1,928,918 $ 5,643,435 $ 2,266,185 $ 6,375,922
10 Employee Contributions 601,587 1,762,522 599,954 1,773,615
11 Interest Income 1,182 9,724 994
12 Corporate/Govt Obligations - market value adj (1,106) 2,983 (268)
13 _ _ _ _
14 Total Revenues 2,530,581 7,418,663 2,866,139 8,150,263
15 _ _ _ _
16 COST OF BENEFITS PROVIDED:
17 Aetna 1,499,182 4,490,956   1,720,772 5,162,746
18 Kaiser Premium 746,192 2,243,099   753,826 2,268,830
19 WEA - WA Dental 126,072 378,379   128,833 386,738
20 WEA - Williamette Dental   60,682 182,045   68,931 206,628
21 Metropolitan Life ($50M) Premium 13,497 40,466   15,901 47,653
22 Metropolitan Life (VOL) Premium 16,092 47,982   16,151 48,842
23 Metropolitan Life - Vision 36,632 109,928   38,479 115,452
24 Metropolitan Life - LTD 57,948 173,628   68,475 205,148
25 Metropolitan Life - STD 7,547 18,046   7,447 22,464
26 UNUM LTC 1,010 3,031   1,083 3,334
27 Magellan Behavior 0 0   0 0
28 Weight Watchers 1,170 1,170   0 0
29  _ _ _ _
30      
31 Cost of Benefits Provided 2,566,023   7,688,728 2,819,897   8,467,836
32 _ _ _ _
33 Excess (Deficiency) of Revenues over Cost of Benefits   (35,442) (270,065) 46,242 (317,573)
34    _ _ _ _
35
36 ADMINISTRATIVE EXPENSES:      
37 Administration 2,114 4,226 4,693 4,693
38 Wellness Program Salaries 10,681 21,364 0 8,312
39 Wellness Program Expenses 167 1,106 0 0
40 Audit Fee 0 0 0 0
41 Bank Fees 40 120 344 1,299
42 Investment Fees 0 129 0 0
43 Legal Fees 0 0 0 8,024
44 Liability Insurance 0 0 0 0
45 Misc. Expense 0 0 0 0
46 Office & Printing 50 50 11 11
47 Consultant Fee 0 0 0 0
48 Investment Consultant Fee 4,375 7,292 0 0
49 _ _ _ _
50 Total Administrative Expenses 17,426 34,287 5,048 22,339
51 _ _ _ _
52 Excess(Deficiency) of Revenue Over Expenses (52,868) (304,352) 41,194 (339,912)
53 Adjusted Fund Balance 9/01/18 and 9/01/19 5,197,640 5,449,124 2,852,195 3,233,301
54 _ _ _ _
55 Fund Balance 9/30/2018 and 9/30/2019 $ 5,144,772 $ 5,144,772 2,893,389 $ 2,893,389
56 = = = =
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