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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
8 Current Month 2018-2019 Current Month 2019-2020
9 REVENUES: (October) (October)
10 Employer Contributions $ 1,948,213 $ 7,591,647 $ 2,291,710 $ 8,667,632
11 Employee Contributions 609,148 2,371,670 598,932 2,372,546
12 Interest Income 5,161 14,884 994
13 Corporate/Govt Obligations - market value adj (500) 2,483 (268)
14 _ _ _
15 Total Revenues 2,562,021 9,980,684 2,890,642 11,040,905
16 _ _ _ _
17 COST OF BENEFITS PROVIDED:
18 Aetna 1,502,551 5,993,507 1,712,345 6,875,092
19 Kaiser Premium 745,630 2,988,729 764,098 3,032,928
20 WEA - WA Dental   125,011 503,390 126,911 513,649
21 WEA - Williamette Dental 65,307 247,352 73,162 279,790
22 Metropolitan Life ($50M) Premium 13,823 54,289 15,933 63,586
23 Metropolitan Life (VOL) Premium   15,313 63,294 15,690 64,533
24 Metropolitan Life - Vision 37,332 147,260 38,893 154,344
25 Metropolitan Life - LTD 59,376 233,004 69,181 274,330
26 Metropolitan Life - STD 7,257 25,302 7,406 29,870
27 UNUM LTC 1,010 4,041 1,126 4,460
28 Other Benefits (25) (25) 0   0
29 Alere Wellbeing 0 0 399 399
30 Magellan Behavior 8,631 8,631 8,631 8,631
31 Weight Watchers 0 1,170 0 0
32 _ _ _ _
33 Cost of Benefits Provided 2,581,217   10,269,945 2,833,776   11,301,612
34 _ _   _ _
35 Excess (Deficiency) of Revenues over Cost of Benefits   (19,195) (289,261) 56,866 (260,706)
36 _ _ _ _
37 ADMINISTRATIVE EXPENSES:
38 Administration 2,115 6,341 2,362 7,055
39 Wellness Program Salaries 10,721 32,085 0 8,312
40 Wellness Program Expenses 1,801 2,907 0 0
41 Audit Fee 9,938 9,938 0 0
42 Bank Fees 40 160 40 1,339
43 Investment Fees 0 129 0 0
44 Legal Fees 0 0 2,915 10,939
45 Liability Insurance 452 452 0 0
46 Misc. Expense 0 0 0 0
47 Office & Printing 0 50 33 44
48 Consultant Fee 450 450 0 0
49 Investment Consultant Fee 0 7,292 0 0
50 _ _ _ _
51 Total Administrative Expenses 25,516 59,803 5,350 27,689
52 _ _ _ _
53 Excess(Deficiency) of Revenue Over Expenses (44,712) (349,064)  51,517 (288,395)
54 Adjusted Fund Balance 10/01/18 and 10/1/19 5,144,772 5,449,124 2,893,389 3,233,301
55 _ _ _ _
56 Fund Balance 10/31/2018 and 10/31/2019 $ 5,100,060 $ 5,100,060 $ 2,944,906 $ 2,944,906
57 = = = =
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