Financial Statements and Wellness Report
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ASSETS
Cash and investments
23,284,622
$
Accrued interest
136,008
Accounts Receivable
1,189
Total assets
23,421,819
LIABILITIES
Compensated absences payable
44,792
Claims incurred but not reported (IBNR) Current 90%
3,085,200
Claims incurred but not reported (IBNR) Non-current 10%
342,800
Due to City
5,469,554
Employees claims payable, due to Blue Cross Blue Shield
1,750,546
Retirees claims payable, due to Blue Cross Blue Shield
296,060
COBRA claims payable, due to Blue Cross Blue Shield
32,965
Deferred revenues
11,410
Total liabilities
11,033,327
NET POSITION
Unrestricted
12,388,492
Total net position
12,388,492
$
Note: December 31, 2022 minimum end of year reserve including IBNR and two months costs as
projected by Segal Consulting.
$
8,314,000
CITY OF CHANDLER
Chandler Health Care Benefits Self-Insurance Trust Fund
Statement of Net Position
June 30, 2023
2023
Budget
2023
Budget
Prorated
Actuals
Budget to
Actual
Difference
OPERATING REVENUES
Contributions:
Employer self insurance premiums
19,983,795
$
9,991,898
9,676,052
$
(315,846)
$
Employee self insurance premiums
2,297,780
1,148,890
1,433,723
284,833
Retiree premiums
2,381,820
1,190,910
1,211,948
21,038
COBRA premiums
54,105
27,053
23,392
(3,661)
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
4,475
(10,525)
Total operating revenues
24,927,500
12,553,750
12,529,589
(24,161)
OPERATING EXPENSES
Personnel support
472,335
236,168
177,037
(59,131)
Audits & financial services
9,000
4,500
8,580
4,080
Promotional
30,000
15,000
600
(14,400)
Operating supplies & equipment
40,027
20,014
4,034
(15,980)
Bank charges
400
200
248
48
Contractual services
180,000
90,000
45
(89,955)
Other:
Self-insurance administrative fees
2,960,896
1,480,448
1,252,650
(227,798)
PCORI fees
11,000
-
10,200
10,200
Wellness programs
137,350
68,675
23,387
(45,288)
Health savings & flex spending acct contributions
292,800
292,800
196,000
(96,800)
Claims paid:
Employees
19,876,000
9,938,000
9,100,191
(837,809)
Retirees
4,481,000
2,240,500
1,882,877
(357,623)
COBRA
143,000
71,500
195,364
123,864
Total operating expenses
28,633,808
14,457,804
12,851,213
(1,606,591)
OPERATING INCOME (LOSS)
(3,706,308)
(1,904,054)
(321,624)
1,582,430
NONOPERATING REVENUES (EXPENSES):
Transfers Out - Technology Fund
5,530
5,530
-
(5,530)
Interest income (loss)
407,450
203,725
680,109
476,384
Total nonoperating revenues (expenses)
412,980
209,255
680,109
470,854
Change in net position
(3,293,328)
(1,694,799)
358,486
2,053,284
NET POSITION:
Total net position, as of April 1, 2023
12,030,006
12,030,006
12,030,006
-
Total net position, as of June 30, 2023
8,736,678
$
10,335,207
$
12,388,492
$
2,053,284
$
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, 2023
Cash flows from operating activities:
Cash received for premiums and other operating purposes
20,708,656
$
Cash payments for claims
(11,265,226)
Cash payments to suppliers for other services
(1,414,095)
Cash payments to employees for services
(187,801)
Net cash provided by operating activities
7,841,534
Cash flows from investing activities:
Investment income
610,411
Proceeds from sales of investments
14,391,695
Purchases of investments
(22,843,640)
Net cash used for investing activities
(7,841,534)
Net increase in cash and cash equivalents
-
Cash and cash equivalents, April 1, 2023
-
Cash and cash equivalents, June 30, 2023
-
$
Reconciliation of operating income to cash provided by operating activities:
Operating income
(321,624)
$
Adjustments to reconcile operating income to net cash provided by
operating activities:
Changes in assets and liabilities:
(Increase)/Decrease in due from (to) City
8,167,656
(Increase)/Decrease in prepaids
89,569
Increase/(Decrease) in claims payable
(86,793)
Increase/(Decrease) in accounts payable
(7,921)
Increase/(Decrease) in accrued payroll
(10,764)
Increase/(Decrease) in deferred revenue
11,410
Net cash provided by operating activities
7,841,534
$
Reconciliation of Cash and Cash Equivalents to the Statement of Net Position:
Cash and cash equivalents
-
$
Investments
23,284,622
Cash and investments
23,284,622
$
CITY OF CHANDLER
Chandler Health Care Benefits Self-Insurance Trust Fund
Statement of Cash Flows
For the Six Months Ended June 30, 2023
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
Jan - Jun
2023
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
25,000.00
324,031.73
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
25,000.00
338,231.73
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
17,700.00
21,493.62
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
16,795.78
5,258.37
158,105.67
Supplies (printing, office, etc.)
-
227.89
2,954.17
1,259.37
1,447.85
1,735.20
12.30
3.02
35.22
-
-
-
350.55
8,025.57
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
3,200.73
-
5,321.73
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
-
-
-
574.22
-
2,361.22
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
77.85
1,043.35
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
24,279.49
23,386.77
230,403.95
Net Wellness Funds Remaining
107,827.78
Chandler Health Care Benefits Trust
Wellness Programs Tracking thru June 30, 2023 (Revised 8-10-2023)