Extracted text (via pymupdf)
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ASSETS
Cash and investments
21,300,456
$
Accrued interest
202,474
Due from city
868,057
Total assets
22,370,987
LIABILITIES
Claims payable
50,000
Total liabilities
50,000
NET POSITION
Unrestricted
22,320,987
Total net position (1)
22,320,987
$
(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
March 31, 2025
FY 2024-25
Budget
FY 2024-25
Budget
Prorated
Actuals
Budget to
Actual
Difference
OPERATING REVENUES
Contributions:
Employer self insurance premiums
5,401,725
$
4,051,294
$
4,046,044
$
(5,250)
$
Recovery of prior year expense
-
-
122,491
122,491
Refunds and reimbursements
-
-
153,497
153,497
Total operating revenues
5,401,725
4,051,294
4,322,032
270,738
OPERATING EXPENSES
Personnel services
614,769
461,077
471,442
10,365
Professional services
231,210
173,408
105,654
(67,754)
Operating supplies and maintenance
9,200
6,900
651
(6,249)
Communication and transportation
2,100
1,575
286
(1,289)
Excess insurance
700,000
700,000
664,917
(35,083)
Premium insurance
70,000
52,500
24,813
(27,687)
Other insurance
750,000
750,000
705,659
(44,341)
Claims paid
3,000,000
2,250,000
1,559,619
(690,381)
Other:
Education and training
2,100
1,575
1,274
(301)
Computer software
6,389
4,792
193
(4,599)
Total operating expenses
5,385,768
4,401,827
3,534,508
(867,319)
OPERATING INCOME (LOSS)
15,957
(350,533)
787,524
1,138,057
NONOPERATING REVENUES (EXPENSES):
Interest income (loss)
415,000
311,250
596,601
285,351
Transfers out to technology fund
(3,845)
(3,845)
(3,845)
-
Transfers in from Municipal Utilities for safety position
72,888
54,666
54,666
-
Total nonoperating revenues (expenses)
484,043
362,071
647,422
285,351
Change in net position
500,000
11,538
1,434,946
1,423,408
NET POSITION:
Total net position, as of July 1, 2024
20,886,041
20,886,041
20,886,041
-
Total net position, as of March 31, 2025
21,386,041
$
20,897,579
$
22,320,987
$
1,423,408
$
CITY OF CHANDLER
Chandler Workers Compensation and Employer Liability Trust
Statement of Revenues, Expenses and Changes in Net Position
For the Nine Months Ended March 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received for premiums
4,062,755
$
Cash received for refunds and reimbursements
153,497
Cash payments for claims
(1,509,619)
Cash payments to suppliers for other services
(1,573,193)
Cash payments to employees for services
(471,442)
Net cash provided (used) by operating activities
661,998
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
54,666
Net cash provided (used) by noncapital financing activities
54,666
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment income
537,832
Net cash used from investing activites
537,832
Net increase (decrease) in cash and cash equivalents
1,250,651
CASH AND CASH EQUIVALENTS:
Beginning of year
20,049,805
As of March 31, 2025
21,300,456
$
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH PROVIDED
(USED) BY OPERATING ACTIVITIES:
Operating income (loss)
787,524
$
(Increase) decrease in due from city
(105,780)
(Increase) decrease in claims payable
50,000
Increase (decrease) in accounts payable
(19,746)
Increase (decrease) in miscellaneous payables
(50,000)
Total adjustments
(125,526)
Net cash provided (used) by operating activities
661,998
$
CITY OF CHANDLER
Chandler Worker's Compensation and Employer Liability Trust
Statement of Cash Flows
For the Nine Months Ended March 31, 2025