Extracted text (via pymupdf)
5314 characters
ASSETS
Cash and investments
15,986,306
$
Accrued interest
46,431
Due from City
1,519,878
Total assets
17,552,615
LIABILITIES
Claims payable
40,000
Total liabilities
40,000
NET POSITION
Unrestricted
17,512,615
Total net position (1)
17,512,615
$
Notes:
(1) Net Position as compared to Reserve Goal:
Nominal
"Central" Value
Estimated Unpaid Losses & ALAE, as of 6/30/22
10,504,362
$
Weighted Projected Ultimate Losses & ALAE
2,907,000
Reserve Goal Based on 6/30/22 Actuarial Report
13,411,362
$
CITY OF CHANDLER
Chandler Worker's Compensation and Employer Liability Trust
Statement of Net Position
March 31, 2023
FY 2022-23
Budget
FY 2022-23
Budget
Prorated
Actuals
Budget to
Actual
Difference
OPERATING REVENUES
Contributions:
Employer self insurance premiums
4,383,700
$
3,287,775
$
3,677,575
$
389,800
$
Total operating revenues
4,383,700
3,287,775
3,677,575
389,800
OPERATING EXPENSES
Personnel services
525,840
394,380
398,163
3,783
Professional services
261,175
195,881
34,447
(161,434)
Operating supplies and maintenance
9,200
6,900
6,055
(845)
Communication and transportation
2,100
1,575
518
(1,057)
Excess insurance
700,000
700,000
492,354
(207,646)
Premium insurance
70,000
52,500
17,256
(35,244)
Other insurance
676,429
676,429
719,159
42,730
Claims paid
3,000,000
2,250,000
1,173,098
(1,076,902)
Other:
Education and training
2,100
1,575
350
(1,225)
Computer Software
6,389
4,792
11
(4,781)
Fiduciary Liability Insurance
-
-
-
-
Total operating expenses
5,253,233
4,284,032
2,841,411
(1,442,621)
OPERATING INCOME (LOSS)
(869,533)
(996,257)
836,164
1,832,421
NONOPERATING REVENUES (EXPENSES):
Miscellaneous Revenue
-
-
4,596
4,596
Interest income (loss)
87,000
65,250
119,202
53,952
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
46,085
46,085
1
Total nonoperating revenues (expenses)
821,030
783,919
842,467
58,549
Change in net position
(48,503)
(212,339)
1,678,631
1,890,970
NET POSITION:
Total net position, as of July 1, 2022
15,833,984
15,833,984
15,833,984
-
Total net position, as of March 31, 2023
15,785,481
$
15,621,646
$
17,512,615
$
1,890,970
$
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, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received for premiums
3,140,882
$
Cash payments for claims
(1,133,098)
Cash payments to suppliers for other services
(1,316,375)
Cash payments to employees for services
(398,163)
Net cash provided (used) by operating activities
293,246
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:
Miscellaneous Revenues
4,596
Cash received from the City
722,514
Net cash provided (used) by noncapital financing activities
727,110
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment Income
97,580
Net cash used from investing activites
97,580
Net increase (decrease) in cash and cash equivalents
1,114,091
CASH AND CASH EQUIVALENTS:
Beginning of year
14,872,215
As of March 31, 2023
15,986,306
$
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH
PROVIDED (USED) BY OPERATING ACTIVITIES:
Operating income (loss)
836,164
$
(Increase) decrease in due from City
(536,693)
Increase (decrease) in claims payable
40,000
Increase (decrease) in accounts payable
(6,225)
Increase (decrease) in miscellaneous payables
(40,000)
Total adjustments
(542,918)
Net cash provided (used) by operating activities
293,246
$
CITY OF CHANDLER
Chandler Worker's Compensation and Employer Liability Trust
Statement of Cash Flows
For the Nine Months Ended March 31, 2023