Extracted text (via pymupdf)
4928 characters
ASSETS
Cash and investments
14,776,429
$
Accrued interest
18,865
Due from City
101,457
Total assets
14,896,751
LIABILITIES
Claims payable
31,000
Total current liabilities
31,000
NET POSITION
Unrestricted
14,865,751
Total net position (1)
14,865,751
$
Notes:
(1) Net Position as compared to Reserve Goal:
Nominal
"Central" Value
Estimated Unpaid Losses & ALAE, as of 6/30/21
10,458,761
$
Weighted Projected Ultimate Losses & ALAE
2,700,000
Reserve Goal Based on 6/30/21 Actuarial Report
13,158,761
$
CITY OF CHANDLER
Chandler Worker's Compensation and Employer Liability Trust
Statement of Net Position
December 31, 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
$
2,191,850
$
2,217,760
$
25,910
$
Total operating revenues
4,383,700
2,191,850
2,217,760
25,910
OPERATING EXPENSES
Personnel services
490,952
245,476
226,273
(19,203)
Professional services
339,875
169,938
25,878
(144,060)
Operating supplies and maintenance
4,200
2,100
558
(1,542)
Communication and transportation
2,100
1,050
132
(918)
Excess insurance
371,130
371,130
392,736
21,606
Premium insurance
95,000
47,500
28,048
(19,452)
Other insurance
676,429
676,429
676,429
-
Claims paid
4,595,110
2,297,555
1,202,625
(1,094,930)
Other:
Education and training
2,100
1,050
-
(1,050)
Computer Software
16,389
8,195
6,960
(1,235)
Fiduciary Liability Insurance
-
-
-
-
Total operating expenses
6,593,285
3,820,422
2,559,639
(1,260,783)
OPERATING INCOME (LOSS)
(2,209,585)
(1,628,572)
(341,879)
1,286,693
NONOPERATING REVENUES (EXPENSES):
Interest income (loss)
166,000
83,000
38,207
(44,793)
Transfers out to technology fund
(3,845)
(3,845)
(3,845)
-
Transfers in from City
-
-
676,429
676,429
Transfers in from Municipal Utilities for Safety Position
58,922
29,462
29,461
(1)
Total nonoperating revenues (expenses)
221,077
108,617
740,252
631,635
Change in net position
(1,988,508)
(1,519,955)
398,373
1,918,328
NET POSITION:
Total net position, as of July 1, 2021
14,467,378
14,467,378
14,467,378
-
Total net position, as of December 31, 2021
12,478,870
$
12,947,423
$
14,865,751
$
1,918,328
$
CITY OF CHANDLER
Chandler Worker's Compensation and Employer Liability Trust
Statement of Revenues, Expenses and Changes in Net Position
For the Six Months Ended December 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received for premiums
2,810,547
$
Cash payments for claims
(1,202,625)
Cash payments to suppliers for other services
(1,205,606)
Cash payments to employees for services
(226,273)
Net cash provided (used) by operating activities
176,043
Cash received from the City
705,890
Net cash provided (used) by noncapital financing activities
705,890
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment Income
36,825
Net cash used from investing activites
36,825
Net increase (decrease) in cash and cash equivalents
914,913
CASH AND CASH EQUIVALENTS:
Beginning of year
13,861,516
End of year
14,776,429
$
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH
PROVIDED (USED) BY OPERATING ACTIVITIES:
Operating income (loss)
(341,879)
$
(Increase) decrease in due from City
592,787
(Increase) decrease in accounts receivable
Increase (decrease) in accounts payable
(22,117)
Increase (decrease) in miscellaneous payables
(52,748)
Total adjustments
517,922
Net cash provided (used) by operating activities
176,043
$
CITY OF CHANDLER
Chandler Worker's Compensation and Employer Liability Trust
Statement of Cash Flows
For the Six Months Ended December 31, 2021