Financial Statements and Wellness Report
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ASSETS
Cash and investments
15,189,993
$
Accrued interest
33,385
Total assets
15,223,378
Retirees claims payable, due to Blue Cross Blue Shield
Compensated absences payable
47,613
Claims incurred but not reported (IBNR) Current 90%
2,034,000
Claims incurred but not reported (IBNR) Non-current 10%
226,000
Due to City
1,646,336
Employees claims payable, due to Blue Cross Blue Shield
1,721,500
Retirees claims payable, due to Blue Cross Blue Shield
433,064
COBRA claims payable, due to Blue Cross Blue Shield
4,026
Deferred revenues
14,016
Total liabilities
6,126,555
NET POSITION
Unrestricted
9,096,823
Total net position
9,096,823
$
Note: December 31, 2021 minimum end of year reserve including IBNR and two months costs as
projected by Segal Consulting.
$ 6,934,000
CITY OF CHANDLER
Chandler Health Care Benefits Self-Insurance Trust Fund
Statement of Net Position
June 30, 2022
2022
Budget
2022
Budget
Prorated
Actuals
Budget to
Actual
Difference
OPERATING REVENUES
Contributions:
Employer self insurance premiums
19,194,205
$
9,597,103
8,995,898
$
(601,204)
$
Employee self insurance premiums
2,194,830
1,097,415
1,013,304
(84,111)
Retiree premiums
2,051,370
1,025,685
1,146,834
121,149
COBRA premiums
77,095
38,548
(4,630)
(43,178)
Other:
BCBS wellness programs
25,000
25,000
25,000
-
BCBS wellness coordinator
100,000
100,000
100,000
-
BCBS administration
25,000
25,000
25,000
-
BCBS communication
30,000
30,000
30,000
-
Recovery of medical claims
30,000
15,000
27,403
12,403
Total operating revenues
23,727,500
11,953,750
11,358,809
(594,941)
OPERATING EXPENSES
Personnel support
473,828
236,914
234,860
(2,054)
Audits & financial services
8,600
8,600
8,340
(260)
Promotional
30,000
15,000
570
(14,430)
Operating supplies & equipment
40,027
20,014
1,809
(18,204)
Bank charges
400
200
125
(75)
Contractual services
174,000
87,000
13,234
(73,766)
Other:
Self-insurance administrative fees
2,818,636
1,409,318
1,339,118
(70,200)
PCORI fees
11,000
11,000
9,267
(1,733)
Wellness programs
130,494
65,247
14,931
(50,316)
Health savings & flex spending acct contributions
317,700
317,700
212,450
(105,250)
Claims paid:
Employees
18,862,000
9,431,000
9,887,810
456,810
Retirees
4,252,000
2,126,000
1,908,384
(217,616)
COBRA
136,000
68,000
32,638
(35,362)
Total operating expenses
27,254,685
13,795,993
13,663,537
(132,455)
OPERATING INCOME (LOSS)
(3,527,185)
(1,842,243)
(2,304,729)
(462,486)
NONOPERATING REVENUES (EXPENSES):
Transfers Out - Technology Fund
(5,530)
-
-
-
Transfers In - General Fund
5,000,000
-
-
-
Interest income (loss)
106,050
53,025
68,999
15,974
Total nonoperating revenues (expenses)
5,100,520
53,025
68,999
15,974
Change in net position
1,573,335
(1,789,218)
(2,235,730)
(446,514)
NET POSITION:
Total net position, as of January 1, 2022
11,332,553
11,332,553
11,332,553
-
Total net position, as of June 30, 2022
12,905,888
$
9,543,336
$
9,096,823
$
(446,514)
$
CITY OF CHANDLER
Chandler Health Care Benefits Self-Insurance Trust Fund
Statement of Revenues, Expenses and Changes in Net Position
For the Six Months Ended June 30, 2022
Cash flows from operating activities:
Cash received for premiums and other operating purposes
11,882,786
$
Cash payments for claims
(11,874,367)
Cash payments to suppliers for other services
(1,589,923)
Cash payments to employees for services
(252,674)
Net cash provided by operating activities
(1,834,178)
Cash flows from investing activities:
Investment income
70,596
Proceeds from sales of investments
10,269,265
Purchases of investments
(8,505,682)
Net cash used for investing activities
1,834,178
Net increase in cash and cash equivalents
-
Cash and cash equivalents, January 1, 2022
-
Cash and cash equivalents, June 30, 2022
-
$
Reconciliation of operating income to cash provided by operating activities:
Operating income
(2,304,729)
$
Adjustments to reconcile operating income to net cash provided by
operating activities:
Changes in assets and liabilities:
(Increase)/Decrease in due from (to) City
509,962
(Increase)/Decrease in prepaids
12,826
Increase/(Decrease) in claims payable
(45,535)
Increase/(Decrease) in accounts payable
(2,904)
Increase/(Decrease) in accrued payroll
(17,815)
Net cash provided by operating activities
(1,834,178)
$
Reconciliation of Cash and Cash Equivalents to the Statement of Net Position:
Cash and cash equivalents
-
$
Investments
15,189,993
Cash and investments
15,189,993
$
CITY OF CHANDLER
Chandler Health Care Benefits Self-Insurance Trust Fund
Statement of Cash Flows
For the Six Months Ended June 30, 2022
Wellness Detail
Jan - Dec
2011
Jan - Dec
2012
Jan - Dec
2013
Jan - Dec
2014
Jan - Dec
2015
Jan - Dec
2016
Jan - Dec
2017
Jan - Dec
2018
Jan - Dec
2019
Jan - Dec
2020
Jan - Dec
2021
Jan - Dec
2022
Cumulative
Total Since
Inception
Revenue
Wellness Funds from BCBS
24,031.73
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
299,031.73
YOGA Program Revenues
-
2,150.00
2,288.00
2,466.00
2,266.00
1,820.00
1,062.00
2,148.00
-
-
-
-
14,200.00
Total Wellness Program Revenue
24,031.73
27,150.00
27,288.00
27,466.00
27,266.00
26,820.00
26,062.00
27,148.00
25,000.00
25,000.00
25,000.00
25,000.00
313,231.73
Expenses
YOGA Program Expenses
-
1,820.00
3,360.00
3,220.00
3,150.00
2,905.00
2,555.00
1,000.00
-
-
360.00
-
18,370.00
Other Professional Services
-
-
-
1,200.00
-
93.62
-
-
-
-
-
2,500.00
3,793.62
Promotional/Advertising Svcs
-
7,547.42
22,174.80
24,361.61
10,408.85
8,567.47
15,024.50
10,060.07
17,712.80
9,759.42
10,434.58
8,841.68
144,893.20
Supplies (printing, office, etc.)
-
227.89
2,954.17
1,259.37
1,447.85
1,735.20
12.30
3.02
35.22
-
-
-
7,675.02
Food & Events
-
350.19
375.02
64.56
795.09
677.75
427.82
535.24
1,163.33
424.57
843.38
648.96
6,305.91
Clothing & Uniforms
-
628.00
-
-
-
-
51.58
-
-
-
-
-
679.58
Other Supplies
-
26.16
-
26.75
-
-
-
-
-
-
-
-
52.91
Office Furniture
-
-
-
-
-
-
-
-
-
-
-
489.80
489.80
Employee Activities/Recognition
-
-
-
-
-
1,000.00
-
-
-
-
1,121.00
2,226.41
4,347.41
Postage & Freight
-
-
481.63
-
-
-
-
-
-
-
-
-
481.63
Travel
-
-
27.12
-
-
-
288.50
942.96
1,327.36
-
-
-
2,585.94
Subscriptions & Memberships
-
365.00
352.00
310.00
-
-
395.00
365.00
-
-
-
154.22
1,941.22
Education & Training
-
-
(600.00)
-
120.00
79.00
439.10
625.50
895.50
460.00
419.00
-
2,438.10
Other Wellness Expenses
2,648.92
-
-
-
-
-
-
-
-
-
-
-
2,648.92
Registrations
-
-
-
-
-
-
625.50
-
200.00
-
70.00
70.00
965.50
Total Wellness Program Expenses
2,648.92
10,964.66
29,124.74
30,442.29
15,921.79
15,058.04
19,819.30
13,531.79
21,334.21
10,643.99
13,247.96
14,931.07
197,668.76
Net Wellness Funds Remaining
115,562.97
Chandler Health Care Benefits Trust
Wellness Programs Tracking January 1 Thru December 31, 2022