Financial Statements and Wellness Report
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ASSETS
Cash and investments
21,022,551
$
Accrued interest
177,307
Due from City - premiums
3,380,589
Total assets
24,580,447
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
1,771,792
Retirees claims payable, due to Blue Cross Blue Shield
417,288
COBRA claims payable, due to Blue Cross Blue Shield
16,340
Total liabilities
6,257,561
NET POSITION
Unrestricted
18,322,886
Total net position
18,322,886
$
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
September 30, 2024
2024
Budget
2024
Budget
Prorated
Actuals
Budget to
Actual
Difference
OPERATING REVENUES
Contributions:
Employer self insurance premiums
20,867,290
$
15,650,468
15,979,961
$
329,494
$
Employee self insurance premiums
3,117,240
2,337,930
2,384,323
46,393
Retiree premiums
2,661,500
1,996,125
1,985,386
(10,739)
COBRA premiums
46,460
34,845
17,504
(17,341)
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
22,500
19,884
(2,617)
Total operating revenues
26,927,490
20,246,868
20,592,058
345,190
OPERATING EXPENSES
Personnel support
457,115
351,627
322,017
(29,610)
Audits & financial services
10,125
10,125
9,000
(1,125)
Promotional
30,000
22,500
-
(22,500)
Operating supplies & equipment
120,027
90,020
1,645
(88,375)
Bank charges
400
300
382
82
Contractual services
188,000
141,000
-
(141,000)
Other:
Self-insurance administrative fees
3,187,621
2,390,716
2,784,484
393,768
PCORI fees
11,000
11,000
11,086
86
Wellness programs
125,936
94,452
11,726
(82,726)
Health savings & flex spending acct contributions
279,672
279,672
209,650
(70,022)
Claims paid:
Employees
19,319,000
14,489,250
16,587,612
2,098,362
Retirees
4,872,000
3,654,000
3,279,378
(374,622)
COBRA
309,000
231,750
71,526
(160,224)
Total operating expenses
28,909,896
21,766,412
23,288,506
1,522,094
OPERATING INCOME (LOSS)
(1,982,406)
(1,519,544)
(2,696,449)
(1,176,905)
NONOPERATING REVENUES (EXPENSES):
Transfers Out - Technology Fund
(5,530)
(5,530)
(5,530)
-
Transfers In - General Fund
5,000,000
5,000,000
5,000,000
-
Interest income (loss)
407,450
305,588
709,714
404,127
Total nonoperating revenues (expenses)
5,401,920
5,300,058
5,704,184
404,127
Change in net position
3,419,514
3,780,514
3,007,735
(772,781)
NET POSITION:
Total net position, as of January 1, 2024
15,315,151
15,315,151
15,315,151
-
Total net position, as of September 30, 2024
18,734,665
$
19,095,665
$
18,322,886
$
(772,780)
$
CITY OF CHANDLER
Chandler Health Care Benefits Self-Insurance Trust Fund
Statement of Revenues, Expenses and Changes in Net Position
For the Nine Months Ended September 30, 2024
Cash flows from operating activities:
Cash received for premiums and other operating purposes
20,393,077
$
Cash payments for claims
(19,674,414)
Cash payments to suppliers for other services
(3,031,866)
Cash payments to employees for services
(337,847)
Net cash provided by operating activities
(2,651,050)
Cash flows from noncapital financing activities:
Cash paid to City for technology replacement
(5,530)
Cash received from City
5,000,000
Net cash used for noncapital financing activities
4,994,470
Cash flows from investing activities:
Investment income
709,714
Proceeds from sales of investments
4,843,547
Purchases of investments
(7,896,681)
Net cash used for investing activities
(2,343,420)
Net increase in cash and cash equivalents
-
Cash and cash equivalents, January 1, 2024
-
Cash and cash equivalents, September 30, 2024
-
$
Reconciliation of operating income to cash provided by operating activities:
Operating income
(2,696,449)
$
Adjustments to reconcile operating income to net cash provided by
operating activities:
Changes in assets and liabilities:
(Increase)/Decrease in due from (to) city
(304,972)
(Increase)Decrease in Accounts Receivable
105,991
Increase/(Decrease) in claims payable
264,102
Increase/(Decrease) in accounts payable
(3,893)
Increase/(Decrease) in accrued payroll
(15,829)
Net cash provided by operating activities
(2,651,050)
$
Reconciliation of Cash and Cash Equivalents to the Statement of Net Position:
Cash and cash equivalents
-
$
Investments
21,022,551
Cash and investments
21,022,551
$
CITY OF CHANDLER
Chandler Health Care Benefits Self-Insurance Trust Fund
Statement of Cash Flows
For the Nine Months Ended September 30, 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 - Sep
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
250.00
21,743.62
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
3,182.51
165,742.89
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
66.24
8,120.34
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
7,249.43
14,047.50
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
11,725.69
249,021.65
Net Wellness Funds Remaining
114,210.08
Chandler Health Care Benefits Trust
Wellness Programs Tracking thru September 30, 2024