Financial Statements and Wellness Report - Management Services
Extracted text (via pymupdf)
12831 characters
ASSETS
Cash and investments
21,204,980
$
Accrued interest
205,155
Due from city - premiums
3,396,068
Accounts Receivable
132,244
Total assets
24,938,447
LIABILITIES
Accounts payable
13,989
Accrued payroll
21,473
Compensated absences payable
56,944
Claims incurred but not reported (IBNR) Current 90%
3,603,600
Claims incurred but not reported (IBNR) Non-current 10%
400,400
Employee claims payable, due to Blue Cross Blue Shield
1,868,533
Retiree claims payable, due to Blue Cross Blue Shield
314,318
COBRA claims payable, due to Blue Cross Blue Shield
17,747
Total liabilities
6,297,004
NET POSITION
Unrestricted
18,641,443
Total net position
18,641,443
$
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
December 31, 2024 (Unaudited)
2024
Budget
Actuals
Budget to
Actual
Difference
OPERATING REVENUES
Contributions:
Employer self insurance premiums
20,867,290
$
21,346,698
$
479,408
$
Employee self insurance premiums
3,117,240
3,183,742
66,502
Retiree premiums
2,661,500
2,671,111
9,611
COBRA premiums
46,460
22,994
(23,466)
Other:
BCBS wellness programs
25,000
25,000
-
BCBS wellness coordinator
125,000
125,000
-
BCBS administration
25,000
25,000
-
BCBS communication
30,000
30,000
-
Recovery of medical claims
30,000
23,940
(6,060)
Pharmaceutical rebates
-
319,040
319,040
Total operating revenues
26,927,490
27,772,525
845,035
OPERATING EXPENSES
Personnel support
457,115
459,435
2,320
Audits & financial services
10,125
9,000
(1,125)
Promotional
30,000
-
(30,000)
Operating supplies & equipment
120,027
22,024
(98,003)
Bank charges
400
507
107
Contractual services
188,000
12,188
(175,812)
Other:
Self-insurance administrative fees
3,187,621
3,642,442
454,821
PCORI fees
11,000
11,086
86
Wellness programs
125,936
17,568
(108,368)
Health savings & flex spending acct contributions
279,672
209,650
(70,022)
Claims paid:
Employees
19,319,000
21,669,677
2,350,677
Retirees
4,872,000
4,212,260
(659,740)
COBRA
309,000
94,856
(214,144)
Total operating expenses
28,909,896
30,360,693
1,450,797
OPERATING INCOME (LOSS)
(1,982,406)
(2,588,168)
(605,762)
NONOPERATING REVENUES (EXPENSES):
Transfers Out - Technology Fund
(5,530)
(5,530)
-
Transfers In - General Fund
5,000,000
5,000,000
-
Interest income (loss)
407,450
919,990
512,540
Total nonoperating revenues (expenses)
5,401,920
5,914,460
512,540
Change in net position
3,419,514
3,326,292
(93,222)
NET POSITION:
Total net position, as of January 1, 2024
15,315,151
15,315,151
-
Total net position, as of December 31, 2024
18,734,665
$
18,641,443
$
(93,222)
$
CITY OF CHANDLER
Chandler Health Care Benefits Self-Insurance Trust Fund
Statement of Revenues, Expenses and Changes in Net Position
For the Year Ended December 31, 2024 (Unaudited)
Cash flows from operating activities:
Cash received for premiums and other operating purposes
27,425,821
$
Cash payments for claims
(25,717,513)
Cash payments to suppliers for other services
(3,914,369)
Cash payments to employees for services
(444,988)
Net cash provided by operating activities
(2,651,049)
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
919,990
Proceeds from sales of investments
5,017,726
Purchases of investments
(8,281,137)
Net cash used for investing activities
(2,343,421)
Net increase in cash and cash equivalents
-
Cash and cash equivalents, January 1, 2024
-
Cash and cash equivalents, December 31, 2024
-
$
Reconciliation of operating income to cash provided by operating activities:
Operating income
(2,588,168)
$
Adjustments to reconcile operating income to net cash provided by
operating activities:
Changes in assets and liabilities:
(Increase)/Decrease in due from (to) city
(320,451)
(Increase)Decrease in accounts receivable
(26,253)
Increase/(Decrease) in claims payable
259,280
Increase/(Decrease) in accounts payable
10,096
Increase/(Decrease) in accrued payroll
5,644
Increase/(Decrease) in compensated absences payable
8,803
Net cash provided by operating activities
(2,651,049)
$
Reconciliation of Cash and Cash Equivalents to the Statement of Net Position:
Cash and cash equivalents
-
$
Investments
21,204,980
Cash and investments
21,204,980
$
CITY OF CHANDLER
Chandler Health Care Benefits Self-Insurance Trust Fund
Statement of Cash Flows
For the Year Ended December 31, 2024 (Unaudited)
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 - Dec
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
8,289.13
170,849.51
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
7,534.63
14,332.70
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
-
-
-
-
-
-
-
-
-
-
-
-
1,277.51
3,926.43
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
17,567.51
254,863.47
Net Wellness Funds Remaining
108,368.26
Chandler Health Care Benefits Trust
Wellness Programs Tracking thru December 31, 2024