Financial Statements and Wellness Report - Management Services
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ASSETS
Cash and investments
24,754,818
$
Accrued interest
267,411
Due from city - premiums
600,487
Accounts Receivable
101,895
Total assets
25,724,611
LIABILITIES
Compensated absences payable
56,944
Claims incurred but not reported (IBNR) Current 89%
2,867,580
Claims incurred but not reported (IBNR) Non-current 11%
354,420
Employee claims payable, due to Blue Cross Blue Shield
2,408,797
Retiree claims payable, due to Blue Cross Blue Shield
497,437
COBRA claims payable, due to Blue Cross Blue Shield
1,387
Total liabilities
6,186,565
NET POSITION
Unrestricted
19,538,046
Total net position
19,538,046
$
Note: December 31, 2024 minimum end of year reserve including IBNR and two months costs as
projected by Segal Consulting.
$ 9,063,000
CITY OF CHANDLER
Chandler Health Care Benefits Self-Insurance Trust Fund
Statement of Net Position
March 31, 2025
2025
Budget
2025
Budget
Prorated
Actuals
Budget to
Actual
Difference
OPERATING REVENUES
Contributions:
Employer self insurance premiums
22,528,480
$
5,632,120
$
5,847,829
$
215,709
$
Employee self insurance premiums
3,357,170
839,293
848,906
9,613
Retiree premiums
2,816,610
704,153
699,295
(4,858)
COBRA premiums
24,250
6,063
2,895
(3,168)
Other:
BCBS wellness programs
80,000
80,000
80,000
-
BCBS wellness coordinator
100,000
100,000
100,000
-
BCBS general and administration
25,000
-
-
-
Recovery of medical claims
30,000
7,500
6,088
(1,412)
Pharmaceutical rebates
665,000
166,250
176,701
10,451
Total operating revenues
29,626,510
7,535,379
7,761,714
226,335
OPERATING EXPENSES
Personnel support
470,406
126,648
101,720
(24,928)
Audits & financial services
10,125
10,125
-
(10,125)
Promotional
30,000
7,500
-
(7,500)
Operating supplies & equipment
95,027
23,757
2,745
(21,012)
Bank charges
500
125
-
(125)
Contractual services
173,000
43,250
569
(42,681)
Other:
Self-insurance administrative fees
3,283,833
820,958
798,259
(22,699)
PCORI fees
11,000
11,000
-
(11,000)
Wellness programs
133,368
33,342
14,505
(18,837)
Health savings & flex spending acct contributions
280,593
280,593
195,650
(84,943)
Claims paid:
Employees
21,188,000
5,297,000
5,592,747
295,747
Retirees
4,119,000
1,029,750
1,149,591
119,841
COBRA
93,000
23,250
7,349
(15,901)
Total operating expenses
29,887,852
7,707,298
7,863,135
155,837
OPERATING INCOME (LOSS)
(261,342)
(171,919)
(101,421)
70,498
NONOPERATING REVENUES (EXPENSES):
Transfers Out - Technology Fund
(5,530)
-
-
-
Interest income (loss)
785,500
196,375
236,361
39,986
Total nonoperating revenues (expenses)
779,970
196,375
236,361
39,986
Change in net position
518,628
24,456
134,940
110,484
NET POSITION:
Total net position, as of January 1, 2025
19,403,106
19,403,106
19,403,106
-
Total net position, as of March 31, 2025
19,921,734
$
19,427,562
$
19,538,046
$
110,484
$
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, 2025
Cash flows from operating activities:
Cash received for premiums and other operating purposes
10,587,644
$
Cash payments for claims
(6,042,664)
Cash payments to suppliers for other services
(1,025,717)
Cash payments to employees for services
(123,193)
Net cash provided by operating activities
3,396,070
Cash flows from investing activities:
Investment income
236,361
Proceeds from sales of investments
3,820,246
Purchases of investments
(7,452,677)
Net cash used for investing activities
(3,396,070)
Net increase in cash and cash equivalents
-
Cash and cash equivalents, January 1, 2025
-
Cash and cash equivalents, March 31, 2025
-
$
Reconciliation of operating income to cash provided by operating activities:
Operating income
(101,421)
$
Adjustments to reconcile operating income to net cash provided by
operating activities:
Changes in assets and liabilities:
(Increase)/Decrease in due from (to) city
2,795,581
(Increase)Decrease in accounts receivable
30,349
Increase/(Decrease) in claims payable
707,023
Increase/(Decrease) in accounts payable
(13,989)
Increase/(Decrease) in accrued payroll
(21,473)
Net cash provided by operating activities
3,396,070
$
Reconciliation of Cash and Cash Equivalents to the Statement of Net Position:
Cash and cash equivalents
-
$
Investments
24,754,818
Cash and investments
24,754,818
$
CITY OF CHANDLER
Chandler Health Care Benefits Self-Insurance Trust Fund
Statement of Cash Flows
For the Three Months Ended March 31, 2025
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
Jan - Mar
2025
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
$
Operating 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 Services
-
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
255.23
171,104.74
Printing Supplies and Charges
-
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
Office Supplies
-
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
-
203.02
6,550.48
Food and Events
-
628.00
-
-
-
-
51.58
-
-
-
-
-
-
-
-
679.58
Clothing and Uniforms
-
26.16
-
26.75
-
-
-
-
-
-
-
-
-
-
-
52.91
Other Supplies
-
-
-
-
-
-
-
-
-
-
-
489.80
440.88
-
-
930.68
Office Furniture and Equipment
-
-
-
-
-
1,000.00
-
-
-
-
1,121.00
3,200.73
1,476.34
7,534.63
-
14,332.70
Employee Activities/Recognitions
-
-
481.63
-
-
-
-
-
-
-
-
-
-
-
453.15
934.78
Postage and Freight
-
-
27.12
-
-
-
288.50
942.96
1,327.36
-
-
-
-
-
-
2,585.94
Travel/Lodging/Meals
-
365.00
352.00
310.00
-
-
395.00
365.00
-
-
-
574.22
450.00
-
-
2,811.22
Subscriptions and Memberships
-
-
(600.00)
-
120.00
79.00
439.10
625.50
895.50
460.00
419.00
-
-
150.00
-
2,588.10
Education and Training
2,648.92
-
-
-
-
-
-
-
-
-
-
-
-
1,277.51
995.00
4,921.43
Other Expenses
-
-
-
-
-
-
625.50
-
200.00
-
70.00
70.00
77.85
-
-
1,043.35
Total Operating 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
$
1,906.40
$
256,769.87
$
Capital Expenses
Mezzanine (6BF670)
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
18,460.56
$
12,599.24
$
31,059.80
$
Total Capital Wellness Program Expenses
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
18,460.56
$
12,599.24
$
31,059.80
$
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
$
36,028.07
$
14,505.64
$
287,829.67
$
Net Wellness Funds Remaining
75,402.06
$
Chandler Health Care Benefits Trust
Wellness Programs Tracking thru March 2025