| TOWN OF CARY, NORTH CAROLINA |
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| HEALTH
INSURANCE INTERNAL SERVICE FUND |
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| SCHEDULE OF
REVENUES AND EXPENDITURES, AND CHANGES IN FUND NET ASSETS |
| BUDGET AND ACTUAL
(NON-GAAP) |
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| For the Year Ended June
30, 2007 |
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| With
Comparative Totals For the Year Ended June 30, 2006 |
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| Schedule 18 |
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2007 |
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2006 |
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Variance |
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Positive |
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Budget |
Actual |
(Negative) |
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Actual |
| REVENUES |
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| Health Insurance Premiums - |
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| Employees |
$6,434,550 |
6,546,959 |
112,409 |
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6,390,418 |
| Spouse and Dependents |
1,672,667 |
1,735,855 |
63,188 |
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1,638,310 |
| Dental Insurance Premiums - |
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| Employees |
464,832 |
431,061 |
(33,771) |
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416,472 |
| Spouse and Dependents |
352,216 |
331,704 |
(20,512) |
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326,740 |
| Investment
Earnings, net |
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--- |
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| Miscellaneous Revenue |
--- |
446,566 |
446,566 |
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40,924 |
| TOTAL REVENUES |
8,924,265 |
9,492,145 |
567,880 |
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8,812,864 |
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| EXPENDITURES |
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| Insurance Claims |
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| Health Claims |
5,857,783 |
5,861,804 |
(4,021) |
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4,965,156 |
| Dental Claims |
940,358 |
738,439 |
201,919 |
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714,816 |
| Flexible Spending Benefit Paid by Town |
--- |
126,281 |
(126,281) |
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129,480 |
| Administration |
1,018,904 |
1,085,741 |
(66,837) |
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1,028,599 |
| TOTAL EXPENDITURES |
7,817,045 |
7,812,265 |
4,780 |
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6,838,051 |
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| Revenues Over Expenditures |
$1,107,220 |
1,679,880 |
572,660 |
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1,974,813 |
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| OTHER FINANCING USE |
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| Transfers Out |
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--- |
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| Transfers In |
--- |
--- |
--- |
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--- |
| Appropriation to Fund Balance |
(1,107,220) |
--- |
1,107,220 |
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--- |
| TOTAL |
(1,107,220) |
---
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1,107,220 |
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---
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| Excess of Revenues Over |
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| Expenditures and Other Uses |
$ --- |
1,679,880 |
1,679,880 |
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1,974,813 |
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| ADJUSTMENT TO ACCRUAL |
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| Decrease (Increase) in Claims Incurred |
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| But Not Reported |
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276,088 |
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(174,386) |
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| CHANGE IN NET ASSETS |
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1,955,968 |
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1,800,427 |
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| NET ASSETS - Beginning
of Year |
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4,151,635 |
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2,351,208 |
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| NET ASSETS - End of Year |
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$6,107,603 |
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4,151,635 |
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