Extracted text (via pymupdf)
5239 characters
ASSETS
Cash and investments
22,341,709
$
Accrued interest
255,787
Due from city
167,283
Total assets
22,764,779
LIABILITIES
Claims payable
41,000
Accounts payable
471
Total liabilities
41,471
NET POSITION
Unrestricted
22,723,308
Total net position (2)
22,723,308
$
Notes:
(2) 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
$
(1) Fiscal year end audit had not been performed by Heinfeld, Meech & Co., P.C. as of the date
this preliminary report was prepared.
CITY OF CHANDLER
Chandler Worker's Compensation and Employer Liability Trust
Statement of Net Position
June 30, 2025
Unaudited
FY 2024-25
Budget
Actuals
Budget to
Actual
Difference
OPERATING REVENUES
Contributions:
Employer self insurance premiums
5,401,725
$
5,226,836
$
(174,889)
$
Recovery of prior year expense
-
136,406
136,406
Refunds and reimbursements
-
153,497
153,497
Total operating revenues
5,401,725
5,516,739
115,014
OPERATING EXPENSES
Personnel services
614,769
612,323
(2,446)
Professional services
231,210
115,404
(115,806)
Operating supplies and maintenance
9,200
4,298
(4,902)
Communication and transportation
2,100
920
(1,180)
Excess insurance
700,000
664,917
(35,083)
Premium insurance
70,000
41,456
(28,544)
Other insurance
750,000
705,659
(44,341)
Claims paid
3,000,000
2,422,186
(577,814)
Other:
Education and training
2,100
1,274
(826)
Computer software
6,389
3,187
(3,202)
Total operating expenses
5,385,768
4,571,624
(814,144)
OPERATING INCOME (LOSS)
15,957
945,115
929,158
NONOPERATING REVENUES (EXPENSES):
Interest income (loss)
415,000
823,109
408,109
Transfers out to technology fund
(3,845)
(3,845)
-
Transfers in from Municipal Utilities for safety position
72,888
72,888
-
Total nonoperating revenues (expenses)
484,043
892,152
408,109
Change in net position
500,000
1,837,267
1,337,267
NET POSITION:
Total net position, as of July 1, 2024
20,886,041
20,886,041
-
Total net position, as of June 30, 2025
21,386,041
$
22,723,308
$
1,337,267
$
CITY OF CHANDLER
Chandler Workers Compensation and Employer Liability Trust
Statement of Revenues, Expenses and Changes in Net Position
For the Year Ended June 30, 2025
Unaudited
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received for premiums
5,958,236
$
Cash received for refunds and reimbursements
153,497
Cash payments for claims
(2,381,186)
Cash payments to suppliers for other services
(1,606,390)
Cash payments to employees for services
(612,323)
Net cash provided (used) by operating activities
1,511,834
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
72,888
Net cash provided (used) by noncapital financing activities
72,888
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment income
711,027
Net cash used from investing activites
711,027
Net increase (decrease) in cash and cash equivalents
2,291,904
CASH AND CASH EQUIVALENTS:
Beginning of year
20,049,805
As of June 30, 2025
22,341,709
$
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH PROVIDED
(USED) BY OPERATING ACTIVITIES:
Operating income (loss)
945,115
$
(Increase) decrease in due from city
594,994
(Increase) decrease in claims payable
41,000
Increase (decrease) in accounts payable
(19,275)
Increase (decrease) in miscellaneous payables
(50,000)
Total adjustments
566,719
Net cash provided (used) by operating activities
1,511,834
$
CITY OF CHANDLER
Chandler Worker's Compensation and Employer Liability Trust
Statement of Cash Flows
For the Year Ended June 30, 2025
Unaudited