Financial Statements and Wellness Report - Management Services
Extracted text (via pymupdf)
8721 characters
ASSETS
Cash and investments
25,464,005
$
Accrued interest
252,040
Accounts receivable
26,154
Total assets
25,742,199
LIABILITIES
Accounts payable
38,261
Accrued payroll
21,473
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
Due to city
1,951,151
Employee claims payable, due to Blue Cross Blue Shield
1,609,901
Retiree claims payable, due to Blue Cross Blue Shield
301,060
COBRA claims payable, due to Blue Cross Blue Shield
19,343
Total liabilities
7,220,133
NET POSITION
Unrestricted
18,522,066
Total net position
18,522,066
$
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
June 30, 2025
2025
Budget
2025
Budget
Prorated
Actuals
Budget to
Actual
Difference
OPERATING REVENUES
Contributions:
Employer self insurance premiums
22,528,480
$
11,264,240
$
11,627,364
$
363,124
$
Employee self insurance premiums
3,357,170
1,678,585
1,688,551
9,966
Retiree premiums
2,816,610
1,408,305
1,350,887
(57,418)
COBRA premiums
24,250
12,125
12,165
40
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
-
50,000
50,000
Recovery of medical claims
30,000
15,000
6,088
(8,912)
Pharmaceutical rebates
665,000
332,500
349,635
17,135
Total operating revenues
29,626,510
14,890,755
15,264,690
373,935
OPERATING EXPENSES
Personnel support
470,406
235,203
229,639
(5,564)
Audits & financial services
10,125
10,125
9,275
(850)
Promotional
30,000
15,000
-
(15,000)
Operating supplies & equipment
95,027
47,514
19,628
(27,886)
Bank charges
500
250
400
150
Contractual services
173,000
86,500
14,638
(71,862)
Other:
Self-insurance administrative fees
3,283,833
1,641,917
1,688,824
46,907
PCORI fees
11,000
11,000
12,173
1,173
Wellness programs
133,368
66,684
23,403
(43,281)
Health savings & flex spending acct contributions
280,593
280,593
195,650
(84,943)
Claims paid:
Employees
21,188,000
10,594,000
12,165,024
1,571,024
Retirees
4,119,000
2,059,500
2,252,946
193,446
COBRA
93,000
46,500
33,261
(13,239)
Total operating expenses
29,887,852
15,094,786
16,644,861
1,550,075
OPERATING INCOME (LOSS)
(261,342)
(204,031)
(1,380,171)
(1,176,140)
NONOPERATING REVENUES (EXPENSES):
Transfers Out - Technology Fund
(5,530)
-
-
-
Interest income (loss)
785,500
392,750
499,131
106,381
Total nonoperating revenues (expenses)
779,970
392,750
499,131
106,381
Change in net position
518,628
188,719
(881,040)
(1,069,759)
NET POSITION:
Total net position, as of January 1, 2025
19,403,106
19,403,106
19,403,106
-
Total net position, as of June 30, 2025
19,921,734
$
19,591,825
$
18,522,066
$
(1,069,759)
$
CITY OF CHANDLER
Chandler Health Care Benefits Self-Insurance Trust Fund
Statement of Revenues, Expenses and Changes in Net Position
For the Six Months Ended June 30, 2025
Cash flows from operating activities:
Cash received for premiums and other operating purposes
17,321,931
$
Cash payments for claims
(14,721,525)
Cash payments to suppliers for other services
(1,939,719)
Cash payments to employees for services
(229,639)
Net cash provided by operating activities
431,048
Cash flows from investing activities:
Investment income
499,131
Proceeds from sales of investments
4,378,156
Purchases of investments
(5,308,335)
Net cash used for investing activities
(431,048)
Net increase in cash and cash equivalents
-
Cash and cash equivalents, January 1, 2025
-
Cash and cash equivalents, June 30, 2025
-
$
Reconciliation of operating income to cash provided by operating activities:
Operating income
(1,380,171)
$
Adjustments to reconcile operating income to net cash provided by
operating activities:
Changes in assets and liabilities:
(Increase)/Decrease in due from (to) city
1,951,151
(Increase)Decrease in accounts receivable
106,090
Increase/(Decrease) in claims payable
(270,294)
Increase/(Decrease) in accounts payable
24,272
Net cash provided by operating activities
431,048
$
Reconciliation of Cash and Cash Equivalents to the Statement of Net Position:
Cash and cash equivalents
-
$
Investments
25,464,005
Cash and investments
25,464,005
$
CITY OF CHANDLER
Chandler Health Care Benefits Self-Insurance Trust Fund
Statement of Cash Flows
For the Six Months Ended June 30, 2025
Wellness Detail
Jan - Dec
2022
Jan - Dec
2023
Jan - Dec
2024
Jan - Jun
2025
Cumulative
Total Since
Inception
Revenue
Wellness Funds from BCBS
25,000.00
$
25,000.00
$
25,000.00
$
-
$
349,031.73
$
YOGA Program Revenues
-
-
-
-
14,200.00
Total Wellness Program Revenue
25,000.00
$
25,000.00
$
25,000.00
$
-
$
363,231.73
$
Operating Expenses
YOGA Program Expenses
-
$
-
$
-
$
-
$
18,370.00
$
Other Professional Services
2,500.00
17,700.00
250.00
-
21,743.62
Promotional/Advertising Services
16,795.78
9,713.08
8,289.13
3,188.81
174,038.32
Printing Supplies and Charges
-
379.08
66.24
-
8,120.34
Office Supplies
648.96
41.55
-
255.83
6,603.29
Food and Events
-
-
-
277.78
957.36
Clothing and Uniforms
-
-
-
-
52.91
Other Supplies
489.80
440.88
-
-
930.68
Office Furniture and Equipment
3,200.73
1,476.34
7,534.63
-
14,332.70
Employee Activities/Recognitions
-
-
-
738.39
1,220.02
Postage and Freight
-
-
-
-
2,585.94
Travel/Lodging/Meals
574.22
450.00
-
-
2,811.22
Subscriptions and Memberships
-
-
150.00
-
2,588.10
Education and Training
-
-
1,277.51
995.00
4,921.43
Other Expenses
70.00
77.85
-
-
1,043.35
Total Operating Wellness Program Expenses
24,279.49
$
30,278.78
$
17,567.51
$
5,455.81
$
256,769.87
$
Capital Expenses
Mezzanine (6BF670)
-
$
-
$
18,460.56
$
17,947.04
$
36,407.60
$
Total Capital Wellness Program Expenses
-
$
-
$
18,460.56
$
17,947.04
$
36,407.60
$
Total Wellness Program Expenses
24,279.49
$
30,278.78
$
36,028.07
$
23,402.85
$
293,177.47
$
Net Wellness Funds Remaining
70,054.26
$
Chandler Health Care Benefits Trust
Wellness Programs Tracking thru June 2025 (preliminary)