Extracted text (via pymupdf)
4820 characters
ASSETS
Cash and investments
14,571,252
$
Accrued interest
20,247
Due from City
183,843
Total assets
14,775,342
LIABILITIES
Claims payable
31,000
Total current liabilities
31,000
NET POSITION
Unrestricted
14,744,342
Total net position (1)
14,744,342
$
Notes:
(1) Net Position as compared to Reserve Goal:
Nominal
"Central" Value
Estimated Unpaid Losses & ALAE, as of 6/30/20
8,795,715
$
Weighted Projected Ultimate Losses & ALAE
2,555,000
Reserve Goal Based on 6/30/20 Actuarial Report
11,350,715
$
CITY OF CHANDLER
Chandler Worker's Compensation and Employer Liability Trust
Statement of Net Position
September 30, 2021
FY 2021-22
Budget
FY 2021-22
Budget
Prorated
Actuals
Budget to
Actual
Difference
OPERATING REVENUES
Contributions:
Employer self insurance premiums
4,383,700
$
1,095,925
$
1,193,370
$
97,445
$
Total operating revenues
4,383,700
1,095,925
1,193,370
97,445
OPERATING EXPENSES
Personnel services
490,952
122,738
118,583
(4,155)
Professional services
239,875
59,969
-
(59,969)
Operating supplies and maintenance
4,200
1,050
206
(844)
Communication and transportation
2,100
525
58
(467)
Excess insurance
361,130
361,130
381,028
19,898
Premium insurance
70,000
17,500
8,740
(8,760)
Claims paid
3,000,000
750,000
429,972
(320,028)
Other:
Education and training
2,100
525
-
(525)
Computer Software
6,389
1,597
6,960
5,363
Total operating expenses
4,176,746
1,315,034
945,547
(369,487)
OPERATING INCOME (LOSS)
206,954
(219,109)
247,823
466,932
NONOPERATING REVENUES (EXPENSES):
Interest income (loss)
166,000
41,500
18,256
(23,244)
Transfers out to technology fund
(3,845)
(3,845)
(3,845)
-
Transfers in from Municipal Utilities for Safety Position
58,922
14,732
14,730
(2)
Total nonoperating revenues (expenses)
221,077
52,387
29,141
(23,246)
Change in net position
428,031
(166,723)
276,964
443,687
NET POSITION:
Total net position, as of July 1, 2021
14,467,378
14,467,378
14,467,378
-
Total net position, as of September 30, 2021
14,895,409
$
14,300,656
$
14,744,342
$
443,687
$
CITY OF CHANDLER
Chandler Worker's Compensation and Employer Liability Trust
Statement of Revenues, Expenses and Changes in Net Position
For the Three Months Ended September 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received for premiums
1,703,771
$
Cash payments for claims
(429,972)
Cash payments to suppliers for other services
(471,857)
Cash payments to employees for services
(118,583)
Net cash provided (used) by operating activities
683,359
Cash received from the City
14,730
Net cash provided (used) by noncapital financing activities
14,730
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment Income
15,492
Net cash used from investing activites
15,492
Net increase (decrease) in cash and cash equivalents
709,736
CASH AND CASH EQUIVALENTS:
Beginning of year
13,861,516
End of year
14,571,252
$
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH
PROVIDED (USED) BY OPERATING ACTIVITIES:
Operating income (loss)
247,823
$
(Increase) decrease in due from City
510,401
(Increase) decrease in accounts receivable
Increase (decrease) in claims payable
0
Increase (decrease) in accounts payable
(22,117)
Increase (decrease) in miscellaneous payables
(52,748)
Increase (decrease) in accrued compensated absences
0
Increase (decrease) in accrued payroll
0
Total adjustments
435,536
Net cash provided (used) by operating activities
683,359
$
CITY OF CHANDLER
Chandler Worker's Compensation and Employer Liability Trust
Statement of Cash Flows
For the Three Months Ended September 30, 2021