Extracted text (via pymupdf)
5267 characters
ASSETS
Cash and investments
13,897,286
$
Accrued interest
29,397
Due from City
1,993,471
Total assets
15,920,154
LIABILITIES
Claims payable
40,000
Total current liabilities
40,000
NET POSITION
Unrestricted
15,880,154
Total net position (1)
15,880,154
$
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
September 30, 2022
FY 2022-23
Budget
FY 2022-23
Budget
Prorated
Actuals
Budget to
Actual
Difference
OPERATING REVENUES
Contributions:
Employer self insurance premiums
4,383,700
$
1,095,925
$
1,238,470
$
142,545
$
Total operating revenues
4,383,700
1,095,925
1,238,470
142,545
OPERATING EXPENSES
Personnel services
525,840
131,460
135,452
3,992
Professional services
261,175
65,294
100
(65,194)
Operating supplies and maintenance
9,200
2,300
447
(1,853)
Communication and transportation
2,100
525
404
(121)
Insurance and taxes:
-
Excess insurance
700,000
700,000
492,354
(207,646)
Premium insurance
70,000
17,500
8,628
(8,872)
Other insurance
676,429
676,429
719,159
42,730
Claims paid
3,000,000
750,000
530,271
(219,729)
Other:
Education and training
2,100
525
50
(475)
Computer Software
6,389
1,597
-
(1,597)
Fiduciary Liability Insurance
-
-
-
-
Total operating expenses
5,253,233
2,345,630
1,886,865
(458,765)
OPERATING INCOME (LOSS)
(869,533)
(1,249,705)
(648,395)
601,310
NONOPERATING REVENUES (EXPENSES):
Interest income (loss)
87,000
21,750
6,619
(15,131)
Transfers out to technology fund
(3,845)
(3,845)
(3,845)
-
Transfers in from City
676,429
676,429
676,429
-
Transfers in from Municipal Utilities for Safety Position
61,446
15,362
15,362
1
Total nonoperating revenues (expenses)
821,030
709,696
694,565
(15,131)
Change in net position
(48,503)
(540,010)
46,170
586,180
NET POSITION:
Total net position, as of July 1, 2022
15,833,984
15,833,984
15,833,984
-
Total net position, as of September 30, 2022
15,785,481
$
15,293,975
$
15,880,154
$
586,180
$
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, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received for premiums
228,184
$
Cash payments for claims
(490,271)
Cash payments to suppliers for other services
(1,267,367)
Cash payments to employees for services
(135,452)
Net cash provided (used) by operating activities
(1,664,906)
CASH FLOWS FROM CAPITAL FINANCING ACTIVITIES:
Cash paid to City for technology replacement
(3,845)
Net cash provided (used) by capital financing activities
(3,845)
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:
Cash received from the City
691,791
Net cash provided (used) by noncapital financing activities
691,791
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment Income
2,031
Net cash used from investing activites
2,031
Net increase (decrease) in cash and cash equivalents
(974,929)
CASH AND CASH EQUIVALENTS:
Beginning of year
14,872,215
As of September 30, 2022
13,897,286
$
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH
PROVIDED (USED) BY OPERATING ACTIVITIES:
Operating income (loss)
(648,395)
$
(Increase) decrease in due from City
(1,010,286)
Increase (decrease) in claims payable
40,000
Increase (decrease) in accounts payable
(6,225)
Increase (decrease) in miscellaneous payables
(40,000)
Total adjustments
(1,016,511)
Net cash provided (used) by operating activities
(1,664,906)
$
CITY OF CHANDLER
Chandler Worker's Compensation and Employer Liability Trust
Statement of Cash Flows
For the Three Months Ended September 30, 2022