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1 EVERETT SCHOOL EMPLOYEE BENEFIT TRUST
2 STATEMENT OF OPERATIONS AND FUND BALANCE
3 For the Year Ended June 30, 2018 and June 30, 2019
4
5 FOR COMPARISON ONLY
6   
7 Current Month 2018-2019  Current Month 2019-2020
8 REVENUES: (November)  (November)
9 Employer Contributions $ 1,952,466 $ 9,544,113 $ 2,286,127 $ 10,953,760
10 Employee Contributions 607,652 2,979,322   599,634 2,972,181
11 Interest Income 6,462 21,346   994
12 Corporate/Govt Obligations - market value adj (1,205) 1,278   (268)
13 _  _ _
14 Total Revenues 2,565,374 12,546,059   2,885,762 13,926,667
15 _ _  _ _
16 COST OF BENEFITS PROVIDED: 
17 Aetna 1,517,039 7,510,545   1,719,654 8,594,746
18 Kaiser 750,342 3,739,071   765,485 3,798,413
19 WEA - WA Dental   124,110 627,500   127,632 641,281
20 WEA - Willamette Dental 70,010 317,362   74,406 354,197
21 Metropolitan Life ($50M) Premium 13,956 68,245   16,047 79,634
22 Metropolitan Life (VOL) Premium   15,545 78,839   15,947 80,479
23 Metropolitan Life - Vision 37,778 185,038   39,259 193,603
24 Metropolitan Life - LTD 60,130 293,134   69,919 344,248
25 Metropolitan Life - STD 7,261 32,564   7,393 37,262
26 UNUM LTC 1,010 5,051   1,126 5,586
27 Other Benefits 0 (25)  0   0
28 Optum 0 0   0 399
29 Magellan Behavior 8,631 17,262   0 8,631
30 Weight Watchers 0 1,170   0 0
31 _ _  _ _
32 Cost of Benefits Provided 2,605,812   12,875,757   2,836,867   14,138,478
33 _ _  _ _
34 Excess (Deficiency) of Revenues over Cost of Benefits   (40,438) (329,699)  48,895 (211,811)
35    _ _  _ _
36 ADMINISTRATIVE EXPENSES: 
37 Administration 2,115 8,456   2,362 9,417
38 Wellness Program Salaries 10,735 42,820   0 8,312
39 Wellness Program Expenses 4,416 7,323   2,689 2,689
40 Audit Fee 0 9,938   7,500 7,500
41 Bank Fees 915 1,075   40 1,379
42 Investment Fees 229 358   0 0
43 Legal Fees 0 0   0 10,939
44 Liability Insurance 0 452   0 0
45 Misc. Expense 0 0   0 0
46 Office & Printing 0 50   0 44
47 Consultant Fee 0 450   0 0
48 Investment Consultant Fee 0 7,292   0 0
49 _ _  _ _
50 Total Administrative Expenses 18,410 78,213   12,591 40,280
51 _ _  _ _
52 Excess(Deficiency) of Revenue Over Expenses (58,848) (407,911)  36,304 (252,091)
53 Adjusted Fund Balance 11/01/18 and 11/01/19 5,100,060 5,449,123   2,944,906 3,233,301
54 _ _  _ _
55 Fund Balance 11/30/2018 and 11/30/2019 $ 5,041,212 $ 5,041,212 $ 2,981,210 $ 2,981,210
56 = =  = =
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