Extracted text (via pymupdf)
5254 characters
ASSETS
Cash and investments
20,357,139
$
Accrued interest
220,295
Due from city
712,820
Total assets
21,290,254
LIABILITIES
Claims payable
50,000
Total liabilities
50,000
NET POSITION
Unrestricted
21,240,254
Total net position (1)
21,240,254
$
(1) Net Position as compared to Reserve Goal:
Nominal
"Central" Value
Estimated Unpaid Losses & ALAE, as of 6/30/24
11,708,406
$
Weighted Projected Ultimate Losses & ALAE
3,042,000
Reserve Goal Based on 6/30/24 Actuarial Report
14,750,406
$
CITY OF CHANDLER
Chandler Worker's Compensation and Employer Liability Trust
Statement of Net Position
December 31, 2024
FY 2024-25
Budget
FY 2024-25
Budget
Prorated
Actuals
Budget to
Actual
Difference
OPERATING REVENUES
Contributions:
Employer self insurance premiums
5,401,725
$
2,700,863
$
2,634,786
$
(66,077)
$
Refunds and reimbursements
-
-
82,576
82,576
Total operating revenues
5,401,725
2,700,863
2,717,362
16,499
OPERATING EXPENSES
Personnel services
614,769
307,385
309,987
2,602
Professional services
231,210
115,605
87,249
(28,356)
Operating supplies and maintenance
9,200
4,600
51
(4,549)
Communication and transportation
2,100
1,050
204
(846)
Excess insurance
700,000
700,000
664,917
(35,083)
Premium insurance
70,000
35,000
24,813
(10,187)
Other insurance
750,000
750,000
705,659
(44,341)
Claims paid
3,000,000
1,500,000
986,599
(513,401)
Other:
Education and training
2,100
1,050
-
(1,050)
Computer software
6,389
3,195
193
(3,002)
Total operating expenses
5,385,768
3,417,885
2,779,672
(638,213)
OPERATING INCOME (LOSS)
15,957
(717,022)
(62,310)
654,712
NONOPERATING REVENUES (EXPENSES):
Interest income (loss)
415,000
207,500
383,924
176,424
Transfers out to technology fund
(3,845)
(3,845)
(3,845)
-
Transfers in from Municipal Utilities for safety position
72,888
36,445
36,445
-
Total nonoperating revenues (expenses)
484,043
240,100
416,524
176,424
Change in net position
500,000
(476,922)
354,214
831,136
NET POSITION:
Total net position, as of July 1, 2024
20,886,040
20,886,040
20,886,040
-
Total net position, as of December 31, 2024
21,386,040
$
20,409,118
$
21,240,254
$
831,136
$
CITY OF CHANDLER
Chandler Workers Compensation and Employer Liability Trust
Statement of Revenues, Expenses and Changes in Net Position
For the Six Months Ended December 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received for premiums
2,684,242
$
Cash received for refunds and reimbursements
82,576
Cash payments for claims
(936,599)
Cash payments to suppliers for other services
(1,552,832)
Cash payments to employees for services
(309,987)
Net cash provided (used) by operating activities
(32,600)
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
36,445
Net cash provided (used) by noncapital financing activities
36,445
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment income
307,334
Net cash used from investing activites
307,334
Net increase (decrease) in cash and cash equivalents
307,334
CASH AND CASH EQUIVALENTS:
Beginning of year
20,049,805
As of December 31, 2024
20,357,139
$
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH
PROVIDED (USED) BY OPERATING ACTIVITIES:
Operating income (loss)
(62,310)
$
(Increase) decrease in due from city
49,456
(Increase) decrease in claims payable
50,000
Increase (decrease) in accounts payable
(19,746)
Increase (decrease) in miscellaneous payables
(50,000)
Total adjustments
29,710
Net cash provided (used) by operating activities
(32,600)
$
CITY OF CHANDLER
Chandler Worker's Compensation and Employer Liability Trust
Statement of Cash Flows
For the Six Months Ended December 31, 2024