Financial Statements and Wellness Report
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ASSETS
Cash and investments
21,361,761
$
Accrued interest
165,412
Due from City - premiums
21,626
Accounts Receivable
838
Total assets
21,549,637
LIABILITIES
Compensated absences payable
48,141
Claims incurred but not reported (IBNR) Current 90%
3,603,600
Claims incurred but not reported (IBNR) Non-current 10%
400,400
Employees claims payable, due to Blue Cross Blue Shield
1,560,439
Retirees claims payable, due to Blue Cross Blue Shield
238,446
COBRA claims payable, due to Blue Cross Blue Shield
35,438
Total liabilities
5,886,464
NET POSITION
Unrestricted
15,663,173
Total net position
15,663,173
$
Note: December 31, 2023 minimum end of year reserve including IBNR and two months costs as
projected by Segal Consulting.
$ 9,431,000
CITY OF CHANDLER
Chandler Health Care Benefits Self-Insurance Trust Fund
Statement of Net Position
March 31, 2024
2024
Budget
2024
Budget
Prorated
Actuals
Budget to
Actual
Difference
OPERATING REVENUES
Contributions:
Employer self insurance premiums
20,867,290
$
5,216,823
5,328,505
$
111,683
$
Employee self insurance premiums
3,117,240
779,310
797,765
18,455
Retiree premiums
2,661,500
665,375
666,282
907
COBRA premiums
46,460
11,615
6,369
(5,246)
Other:
BCBS wellness programs
25,000
25,000
25,000
-
BCBS wellness coordinator
125,000
125,000
125,000
-
BCBS administration
25,000
25,000
25,000
-
BCBS communication
30,000
30,000
30,000
-
Recovery of medical claims
30,000
7,500
14,482
6,982
Total operating revenues
26,927,490
6,885,623
7,018,403
132,780
OPERATING EXPENSES
Personnel support
457,115
123,069
98,863
(24,206)
Audits & financial services
10,125
2,726
-
(2,726)
Promotional
30,000
7,500
-
(7,500)
Operating supplies & equipment
120,027
30,007
2,213
(27,794)
Bank charges
400
100
272
172
Contractual services
188,000
47,000
-
(47,000)
Other:
Self-insurance administrative fees
3,187,621
796,905
655,571
(141,334)
PCORI fees
11,000
11,000
-
(11,000)
Wellness programs
125,936
31,484
4,103
(27,381)
Health savings & flex spending acct contributions
279,672
279,672
209,300
(70,372)
Claims paid:
Employees
19,319,000
4,829,750
5,055,107
225,357
Retirees
4,872,000
1,218,000
910,297
(307,703)
COBRA
309,000
77,250
43,380
(33,870)
Total operating expenses
28,909,896
7,454,463
6,979,106
(475,357)
OPERATING INCOME (LOSS)
(1,982,406)
(568,841)
39,297
608,138
NONOPERATING REVENUES (EXPENSES):
Transfers Out - Technology Fund
(5,530)
-
-
-
Transfers In - General Fund
5,000,000
-
-
-
Interest income (loss)
407,450
101,863
174,006
72,144
Total nonoperating revenues (expenses)
5,401,920
101,863
174,006
72,144
Change in net position
3,419,514
(466,978)
213,303
680,280
NET POSITION:
Total net position, as of January 1, 2024
15,449,870
15,449,870
15,449,870
-
Total net position, as of March 31, 2024
18,869,384
$
14,982,892
$
15,663,173
$
680,280
$
CITY OF CHANDLER
Chandler Health Care Benefits Self-Insurance Trust Fund
Statement of Revenues, Expenses and Changes in Net Position
For the Three Months Ended March 31, 2024
Cash flows from operating activities:
Cash received for premiums and other operating purposes
10,177,547
$
Cash payments for claims
(6,115,780)
Cash payments to suppliers for other services
(871,458)
Cash payments to employees for services
(114,693)
Net cash provided by operating activities
3,075,616
Cash flows from investing activities:
Investment income
8,594
Proceeds from sales of investments
3,374,997
Purchases of investments
(6,459,207)
Net cash used for investing activities
(3,075,616)
Net increase in cash and cash equivalents
-
Cash and cash equivalents, January 1, 2024
-
Cash and cash equivalents, March 31, 2024
-
$
Reconciliation of operating income to cash provided by operating activities:
Operating income
39,297
$
Adjustments to reconcile operating income to net cash provided by
operating activities:
Changes in assets and liabilities:
(Increase)/Decrease in due from (to) City
3,053,991
(Increase)Decrease in Accounts Receivable
105,153
Increase/(Decrease) in claims payable
(106,996)
Increase/(Decrease) in accrued payroll
(15,829)
Net cash provided by operating activities
3,075,616
$
Reconciliation of Cash and Cash Equivalents to the Statement of Net Position:
Cash and cash equivalents
-
$
Investments
21,361,761
Cash and investments
21,361,761
$
CITY OF CHANDLER
Chandler Health Care Benefits Self-Insurance Trust Fund
Statement of Cash Flows
For the Three Months Ended March 31, 2024
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 - Dec
2023
Jan - Mar
2024
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
25,000.00
349,031.73
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
25,000.00
363,231.73
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
9,713.08
1,500.00
164,060.38
Supplies (printing, office, etc.)
-
227.89
2,954.17
1,259.37
1,447.85
1,735.20
12.30
3.02
35.22
-
-
-
379.08
-
8,054.10
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
41.55
-
6,347.46
Clothing & Uniforms
-
628.00
-
-
-
-
51.58
-
-
-
-
-
-
-
679.58
Other Supplies
-
26.16
-
26.75
-
-
-
-
-
-
-
-
-
-
52.91
Office Furniture
-
-
-
-
-
-
-
-
-
-
-
489.80
440.88
-
930.68
Employee Activities/Recognition
-
-
-
-
-
1,000.00
-
-
-
-
1,121.00
3,200.73
1,476.34
1,625.00
8,423.07
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
450.00
-
2,811.22
Education & Training
-
-
(600.00)
-
120.00
79.00
439.10
625.50
895.50
460.00
419.00
-
-
150.00
2,588.10
Other Wellness Expenses
2,648.92
-
-
-
-
-
-
-
-
-
-
-
-
827.51
3,476.43
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
30,278.78
4,102.51
241,398.47
Net Wellness Funds Remaining
121,833.26
Chandler Health Care Benefits Trust
Wellness Programs Tracking thru March 31, 2024