Financial Statements and Wellness Report - Management Services
Extracted text (via pymupdf)
9856 characters
ASSETS
Cash and investments
23,751,830
$
Accrued interest
269,048
Accounts receivable
72,768
Total assets
24,093,646
LIABILITIES
Accounts payable
13,989
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
2,485,576
Employee claims payable, due to Blue Cross Blue Shield
4,618,435
Retiree claims payable, due to Blue Cross Blue Shield
896,824
COBRA claims payable, due to Blue Cross Blue Shield
19,184
Total liabilities
11,334,425
NET POSITION
Unrestricted
12,759,221
Total net position
12,759,221
$
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
September 30, 2025
2025
Budget
2025
Budget
Prorated
Actuals
Budget to
Actual
Difference
OPERATING REVENUES
Contributions:
Employer self insurance premiums
22,528,480
$
16,896,360
$
17,412,409
$
516,049
$
Employee self insurance premiums
3,357,170
2,517,878
2,530,967
13,089
Retiree premiums
2,816,610
2,112,458
2,017,055
(95,403)
COBRA premiums
24,250
18,188
15,177
(3,011)
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
25,000
50,000
25,000
Recovery of medical claims
30,000
22,500
6,794
(15,706)
Pharmaceutical rebates
665,000
498,750
535,997
37,247
Total operating revenues
29,626,510
22,271,134
22,748,399
477,265
OPERATING EXPENSES
Personnel support
470,406
361,851
357,604
(4,247)
Audits & financial services
10,125
10,125
9,275
(850)
Promotional
30,000
22,500
1,126
(21,374)
Operating supplies & equipment
95,027
71,270
15,139
(56,131)
Bank charges
500
375
400
25
Contractual services
173,000
129,750
14,638
(115,112)
Other:
Self-insurance administrative fees
3,283,833
2,462,875
2,376,136
(86,739)
PCORI fees
11,000
11,000
12,173
1,173
Wellness programs
133,368
100,026
32,858
(67,168)
Health savings & flex spending acct contributions
280,593
280,593
196,158
(84,435)
Claims paid:
Employees
21,188,000
15,891,000
22,673,551
6,782,551
Retirees
4,119,000
3,089,250
4,409,125
1,319,875
COBRA
93,000
69,750
42,918
(26,832)
Total operating expenses
29,887,852
22,500,365
30,141,101
7,640,736
OPERATING INCOME (LOSS)
(261,342)
(229,231)
(7,392,702)
(7,163,471)
NONOPERATING REVENUES (EXPENSES):
Transfers out - Technology Fund
(5,530)
(5,530)
(6,807)
(1,277)
Interest income (loss)
785,500
589,125
755,624
166,499
Total nonoperating revenues (expenses)
779,970
583,595
748,817
165,222
Change in net position
518,628
354,364
(6,643,885)
(6,998,249)
NET POSITION:
Total net position, as of January 1, 2025
19,403,106
19,403,106
19,403,106
-
Total net position, as of September 30, 2025
19,921,734
$
19,757,470
$
12,759,221
$
(6,998,249)
$
CITY OF CHANDLER
Chandler Health Care Benefits Self-Insurance Trust Fund
Statement of Revenues, Expenses and Changes in Net Position
For the Nine Months Ended September 30, 2025
Cash flows from operating activities:
Cash received for premiums and other operating purposes
25,293,451
$
Cash payments for claims
(23,791,749)
Cash payments to suppliers for other services
(2,657,903)
Cash payments to employees for services
(357,604)
Net cash provided by operating activities
(1,513,805)
Cash flows from noncapital financing activities:
Cash paid to city for technology replacement
(6,807)
Net cash used for noncapital financing activities
(6,807)
Cash flows from investing activities:
Investment income
755,624
Proceeds from sales of investments
4,481,564
Purchases of investments
(3,716,576)
Net cash used for investing activities
1,520,612
Net increase in cash and cash equivalents
-
Cash and cash equivalents, January 1, 2025
-
Cash and cash equivalents, September 30, 2025
-
$
Reconciliation of operating income to cash provided by operating activities:
Operating income
(7,392,702)
$
Adjustments to reconcile operating income to net cash provided by
operating activities:
Changes in assets and liabilities:
(Increase)/Decrease in due from (to) city
2,485,576
(Increase)Decrease in accounts receivable
59,476
Increase/(Decrease) in claims payable
3,333,845
Net cash provided by operating activities
(1,513,805)
$
Reconciliation of Cash and Cash Equivalents to the Statement of Net Position:
Cash and cash equivalents
-
$
Investments
23,751,830
Cash and investments
23,751,830
$
CITY OF CHANDLER
Chandler Health Care Benefits Self-Insurance Trust Fund
Statement of Cash Flows
For the Nine Months Ended September 30, 2025
Wellness Detail
Jan - Dec
2022
Jan - Dec
2023
Jan - Dec
2024
Jan - Sep
2025
Cumulative
Total Since
Inception
Revenue
Wellness Funds from BCBS
25,000.00
$
25,000.00
$
25,000.00
$
25,000.00
$
374,031.73
$
YOGA Program Revenues
-
-
-
-
14,200.00
Total Wellness Program Revenue
25,000.00
$
25,000.00
$
25,000.00
$
25,000.00
$
388,231.73
$
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
3,288.81
174,138.32
Printing Supplies and Charges
-
379.08
66.24
47.20
8,167.54
Office Supplies
648.96
41.55
-
384.67
6,732.13
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
$
5,731.85
$
256,769.87
$
Capital Expenses
Mezzanine (6BF670)
-
$
-
$
18,460.56
$
27,125.62
$
45,586.18
$
Total Capital Wellness Program Expenses
-
$
-
$
18,460.56
$
27,125.62
$
45,586.18
$
Total Wellness Program Expenses
24,279.49
$
30,278.78
$
36,028.07
$
32,857.47
$
302,356.05
$
Net Wellness Funds Remaining
85,875.68
$
Chandler Health Care Benefits Trust
Wellness Programs Tracking thru September 2025