Financial Statements -Management Services
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ASSETS
Cash and investments
22,770,589
$
Accrued interest
229,086
Total assets
22,999,675
LIABILITIES
Due to City
554,591
Total liabilities
554,591
NET POSITION
Unrestricted
22,445,084
Total net position (1)
22,445,084
$
Notes:
(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
$
(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
September 30, 2025
FY 2025-26
Budget
FY 2025-26
Budget
Prorated
Actuals
Budget to
Actual
Difference
OPERATING REVENUES
Contributions:
Employer self insurance premiums
5,060,100
$
1,265,025
$
1,427,800
$
162,775
$
Recovery of prior year expense
-
-
7,434
7,434
Refunds and reimbursements
-
-
(32)
(32)
Total operating revenues
5,060,100
1,265,025
1,435,202
170,177
OPERATING EXPENSES
Personnel services
621,953
155,488
166,376
10,888
Professional services
145,150
36,288
24,775
(11,513)
Operating supplies and maintenance
9,200
2,300
400
(1,900)
Communication and transportation
2,100
525
321
(204)
Excess insurance
700,000
700,000
631,514
(68,486)
Premium insurance
70,000
17,500
16,754
(746)
Other insurance
750,000
750,000
693,839
(56,161)
Claims paid
3,000,000
750,000
394,545
(355,455)
Other:
Education and training
2,100
525
1,100
575
Computer software
20,801
5,200
-
(5,200)
Total operating expenses
5,321,304
2,417,826
1,929,624
(488,202)
OPERATING INCOME (LOSS)
(261,204)
(1,152,801)
(494,422)
658,379
NONOPERATING REVENUES (EXPENSES):
Interest income (loss)
865,000
216,250
234,896
18,646
Transfers out to technology fund
(3,845)
(3,845)
(3,845)
-
Transfers in from Municipal Utilities for safety position
76,854
19,213
19,213
-
Total nonoperating revenues (expenses)
938,009
231,618
250,264
18,646
Change in net position
676,805
(921,183)
(244,158)
677,025
NET POSITION:
Total net position, as of July 1, 2025
22,689,242
22,689,242
22,689,242
-
Total net position, as of September 30, 2025
23,366,047
$
21,768,059
$
22,445,084
$
677,025
$
CITY OF CHANDLER
Chandler Workers Compensation and Employer Liability Trust
Statement of Revenues, Expenses and Changes in Net Position
For the Three Months Ended September 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received for premiums
2,123,042
$
Cash received for refunds and reimbursements
(32)
Cash payments for claims
(435,545)
Cash payments to suppliers for other services
(1,369,174)
Cash payments to employees for services
(166,376)
Net cash provided (used) by operating activities
151,915
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
19,213
Net cash provided (used) by noncapital financing activities
19,213
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment income
261,597
Net cash used from investing activites
261,597
Net increase (decrease) in cash and cash equivalents
428,880
CASH AND CASH EQUIVALENTS:
Beginning of year
22,341,709
As of September 30, 2025
22,770,589
$
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH PROVIDED
(USED) BY OPERATING ACTIVITIES:
Operating income (loss)
(494,422)
$
(Increase) decrease in due from city
687,808
(Increase) decrease in claims payable
(41,000)
Increase (decrease) in accounts payable
(471)
Total adjustments
646,337
Net cash provided (used) by operating activities
151,915
$
CITY OF CHANDLER
Chandler Worker's Compensation and Employer Liability Trust
Statement of Cash Flows
For the Three Months Ended September 30, 2025