Financials Statements through June 30, 2024

ASSETS
Cash and investments
20,049,805
$   
Accrued interest
143,704
Due from City
762,277
           
     Total assets
20,955,786
LIABILITIES
Claims payable
50,000
Accounts payable
19,746
     Total liabilities
69,746
             
NET POSITION
Unrestricted 
20,886,040
     Total net position (1)
20,886,040
$   
Notes:  
(2) Net Position as compared to Reserve Goal:
Nominal 
"Central" Value
    Estimated Unpaid Losses & ALAE, as of 6/30/24
11,105,144
$          
    Weighted Projected Ultimate Losses & ALAE
2,885,000
               
        Reserve Goal Based on 6/30/24 Actuarial Report
13,990,144
$          
(1) Fiscal year end audit had not been performed by Heinfeld, Meech & Co., P.C. as of the date 
this preliminary report was prepared.
CITY OF CHANDLER
Chandler Worker's Compensation and Employer Liability Trust
Statement of Net Position
June 30, 2024

FY 2023-24 
Budget
Actuals
Budget to 
Actual 
Difference
OPERATING REVENUES
  Contributions:
      Employer self insurance premiums
5,060,100
$     
5,375,645
$     
315,545
$       
  Other:
      Recovery of claims
-
                   
612
                  
612
                 
      Recovery of prior year expense
-
                   
80
                    
80
                   
          Total operating revenues
5,060,100
       
5,376,337
       
316,237
         
OPERATING EXPENSES
  Personnel services
571,691
          
542,770
          
(28,921)
          
  Professional services
261,110
          
98,069
             
(163,041)
        
  Operating supplies and maintenance
9,200
               
6,675
               
(2,525)
             
  Communication and transportation
2,100
               
398
                  
(1,702)
             
  Excess insurance
700,000
          
564,371
          
(135,629)
        
  Premium insurance
70,000
             
50,754
             
(19,246)
          
  Other insurance
750,000
          
713,825
          
(36,175)
          
  Claims paid
3,000,000
       
1,406,687
       
(1,593,313)
     
  Other:
  Education and training
2,100
               
2,177
               
77
                   
  Computer Software
6,580
               
2,436
               
(4,144)
             
          Total operating expenses
5,372,781
       
3,388,162
       
(1,984,619)
     
OPERATING INCOME (LOSS)
(312,681)
         
1,988,175
       
2,300,856
      
NONOPERATING REVENUES (EXPENSES):
  Miscellaneous Revenue
-
                   
15,910
             
15,910
            
  Interest income (loss) 
411,000
          
559,769
          
148,769
         
  Transfers out to technology fund
(3,845)
              
(3,845)
              
-
                  
  Transfers in from Municipal Utilities for Safety Position
68,017
             
68,017
             
-
                  
          Total nonoperating revenues (expenses)
475,172
          
639,851
          
164,679
         
         Change in net position
162,491
          
2,628,026
       
2,465,535
      
NET POSITION:
Total net position, as of July 1, 2023
18,258,014
     
18,258,014
     
-
                  
Total net position, as of June 30, 2024
18,420,505
$   
20,886,040
$   
2,465,535
$    
CITY OF CHANDLER
Chandler Worker's Compensation and Employer Liability Trust
Statement of Revenues, Expenses and Changes in Net Position
For the Year Ended June 30, 2024

CASH FLOWS FROM OPERATING ACTIVITIES:
  Cash received for premiums
5,295,488
$     
  Cash payments for claims
(1,356,687)
  Cash payments to suppliers for other services
(1,476,295)
  Cash payments to employees for services
(542,770)
        Net cash provided (used) by operating activities
1,919,736
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
15,910
  Cash received from the City
68,017
        Net cash provided (used) by noncapital financing activities
83,927
CASH FLOWS FROM INVESTING ACTIVITIES:
   Investment Income
504,957
       Net cash used from investing activites
504,957
        Net increase (decrease) in cash and cash equivalents
2,504,775
CASH AND CASH EQUIVALENTS:
  Beginning of year
17,545,030
As of June 30, 2024
20,049,805
$   
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH 
PROVIDED (USED) BY OPERATING ACTIVITIES:
      Operating income (loss)
1,988,175
$     
            (Increase) decrease in due from City
(80,849)
            Increase (decrease) in claims payable
50,000
            Increase (decrease) in accounts payable
12,410
            Increase (decrease) in miscellaneous payables
(50,000)
                     Total adjustments
(68,439)
                     Net cash provided (used) by operating activities
1,919,736
$     
CITY OF CHANDLER
Chandler Worker's Compensation and Employer Liability Trust
Statement of Cash Flows
For the Year Ended June 30, 2024