Extracted text (via pymupdf)
4933 characters
ASSETS
Cash and investments
14,887,716
$
Accrued interest
19,754
Due from City
460,176
Total assets
15,367,646
LIABILITIES
Claims payable
31,000
Total current liabilities
31,000
NET POSITION
Unrestricted
15,336,646
Total net position (1)
15,336,646
$
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
March 31, 2022
FY 2021-22
Budget
FY 2021-22
Budget
Prorated
Actuals
Budget to
Actual
Difference
OPERATING REVENUES
Contributions:
Employer self insurance premiums
4,383,700
$
3,287,775
$
3,433,504
$
145,729
$
Total operating revenues
4,383,700
3,287,775
3,433,504
145,729
OPERATING EXPENSES
Personnel services
490,952
368,214
357,087
(11,127)
Professional services
339,875
254,906
35,474
(219,432)
Operating supplies and maintenance
4,200
3,150
1,655
(1,495)
Communication and transportation
2,100
1,575
210
(1,365)
Excess insurance
371,130
371,130
392,736
21,606
Premium insurance
95,000
71,250
36,676
(34,574)
Other insurance
676,429
676,429
676,429
-
Claims paid
4,595,110
3,446,333
1,822,711
(1,623,622)
Other:
Education and training
2,100
1,575
-
(1,575)
Computer Software
16,389
12,292
6,960
(5,332)
Fiduciary Liability Insurance
-
-
-
-
Total operating expenses
6,593,285
5,206,854
3,329,938
(1,876,916)
OPERATING INCOME (LOSS)
(2,209,585)
(1,919,079)
103,566
2,022,645
NONOPERATING REVENUES (EXPENSES):
Interest income (loss)
166,000
124,500
48,927
(75,573)
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
44,193
44,191
(2)
Total nonoperating revenues (expenses)
221,077
164,848
765,702
600,855
Change in net position
(1,988,508)
(1,754,231)
869,268
2,623,499
NET POSITION:
Total net position, as of July 1, 2021
14,467,378
14,467,378
14,467,378
-
Total net position, as of March 31, 2022
12,478,870
$
12,713,147
$
15,336,646
$
2,623,499
$
CITY OF CHANDLER
Chandler Worker's Compensation and Employer Liability Trust
Statement of Revenues, Expenses and Changes in Net Position
For the Nine Months Ended March 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received for premiums
3,667,572
$
Cash payments for claims
(1,822,711)
Cash payments to suppliers for other services
(1,225,005)
Cash payments to employees for services
(357,087)
Net cash provided (used) by operating activities
262,769
Cash received from the City
720,620
Net cash provided (used) by noncapital financing activities
720,620
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment Income
46,656
Net cash used from investing activites
46,656
Net increase (decrease) in cash and cash equivalents
1,026,200
CASH AND CASH EQUIVALENTS:
Beginning of year
13,861,516
End of year
14,887,716
$
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH
PROVIDED (USED) BY OPERATING ACTIVITIES:
Operating income (loss)
103,566
$
(Increase) decrease in due from City
234,068
(Increase) decrease in accounts receivable
Increase (decrease) in accounts payable
(22,117)
Increase (decrease) in miscellaneous payables
(52,748)
Total adjustments
159,203
Net cash provided (used) by operating activities
262,769
$
CITY OF CHANDLER
Chandler Worker's Compensation and Employer Liability Trust
Statement of Cash Flows
For the Nine Months Ended March 31, 2022