Extracted text (via pymupdf)
5270 characters
ASSETS
Cash and investments
17,680,477
$
Accrued interest
45,177
Due from City
272,301
Total assets
17,997,955
LIABILITIES
Claims payable
50,000
Total liabilities
50,000
NET POSITION
Unrestricted
17,947,955
Total net position (1)
17,947,955
$
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
For the Three Months Ended September 30, 2023
FY 2023-24
Budget
FY 2023-24
Budget
Prorated
Actuals
Budget to
Actual
Difference
OPERATING REVENUES
Contributions:
Employer self insurance premiums
5,060,100
$
1,265,025
$
1,395,497
$
130,472
$
Other:
Recovery of claims
-
-
612
612
Recovery of prior year expense
-
-
25
25
Total operating revenues
5,060,100
1,265,025
1,396,134
131,109
OPERATING EXPENSES
Personnel services
571,691
142,923
148,955
6,032
Professional services
261,110
65,278
167
(65,111)
Operating supplies and maintenance
9,200
2,300
102
(2,198)
Communication and transportation
2,100
525
41
(484)
Excess insurance
700,000
700,000
527,291
(172,709)
Premium insurance
70,000
17,500
9,086
(8,414)
Other insurance
750,000
750,000
713,825
(36,175)
Claims paid
3,000,000
750,000
410,767
(339,233)
Other:
Education and training
2,100
525
850
325
Computer Software
6,580
1,645
-
(1,645)
Total operating expenses
5,372,781
2,430,695
1,811,084
(619,611)
OPERATING INCOME (LOSS)
(312,681)
(1,165,670)
(414,950)
750,720
NONOPERATING REVENUES (EXPENSES):
Interest income (loss)
411,000
102,750
91,732
(11,018)
Transfers out to technology fund
(3,845)
(3,845)
(3,845)
-
Transfers in from Municipal Utilities for Safety Position
68,017
17,004
17,004
(0)
Total nonoperating revenues (expenses)
475,172
115,909
104,891
(11,018)
Change in net position
162,491
(1,049,761)
(310,059)
739,702
NET POSITION:
Total net position, as of July 1, 2023
18,258,014
18,258,014
18,258,014
-
Total net position, as of September 30, 2023
18,420,505
$
17,208,253
$
17,947,955
$
739,702
$
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, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received for premiums
1,805,261
$
Cash payments for claims
(360,767)
Cash payments to suppliers for other services
(1,308,698)
Cash payments to employees for services
(148,955)
Net cash provided (used) by operating activities
(13,159)
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
17,004
Net cash provided (used) by noncapital financing activities
17,004
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment Income
135,447
Net cash used from investing activites
135,447
Net increase (decrease) in cash and cash equivalents
135,447
CASH AND CASH EQUIVALENTS:
Beginning of year
17,545,030
As of September 30, 2023
17,680,477
$
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH
PROVIDED (USED) BY OPERATING ACTIVITIES:
Operating income (loss)
(414,950)
$
(Increase) decrease in due from City
409,127
Increase (decrease) in claims payable
50,000
Increase (decrease) in accounts payable
(7,336)
Increase (decrease) in miscellaneous payables
(50,000)
Total adjustments
401,791
Net cash provided (used) by operating activities
(13,159)
$
CITY OF CHANDLER
Chandler Worker's Compensation and Employer Liability Trust
Statement of Cash Flows
For the Three Months Ended September 30, 2023