| 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, 2006 |
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| With
Comparative Totals For the Year Ended June 30, 2005 |
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| Schedule 18 |
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2006 |
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2005 |
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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 |
$6,141,902 |
6,390,418 |
248,516 |
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6,343,580 |
| Spouse and Dependents |
1,440,267 |
1,638,310 |
198,043 |
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1,395,015 |
| Dental Insurance Premiums - |
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| Employees |
446,650 |
416,472 |
(30,178) |
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338,167 |
| Spouse and Dependents |
327,482 |
326,740 |
(742) |
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268,954 |
| Investment
Earnings, net |
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--- |
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| Miscellaneous Revenue |
--- |
40,924 |
40,924 |
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99,360 |
| TOTAL REVENUES |
8,356,301 |
8,812,864 |
456,563 |
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8,445,076 |
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| EXPENDITURES |
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| Insurance Claims |
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| Health Claims |
6,617,169 |
4,965,156 |
1,652,013 |
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5,933,323 |
| Dental Claims |
726,632 |
714,816 |
11,816 |
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563,750 |
| Flexible Spending Benefit Paid by Town |
--- |
129,480 |
(129,480) |
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--- |
| Administration |
1,012,500 |
1,028,599 |
(16,099) |
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714,682 |
| TOTAL EXPENDITURES |
8,356,301 |
6,838,051 |
1,518,250 |
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7,211,755 |
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| Revenues Over Expenditures |
$ --- |
1,974,813 |
1,974,813 |
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1,233,321 |
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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 |
--- |
--- |
--- |
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--- |
| TOTAL |
---
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---
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---
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---
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| Excess of
Revenues Over (Under) |
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Expenditures and Other Uses |
$ --- |
1,974,813 |
1,974,813 |
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1,233,321 |
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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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(174,386) |
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168,299 |
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| CHANGE IN NET ASSETS |
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1,800,427 |
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1,401,620 |
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| NET ASSETS - Beginning
of Year |
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2,351,208 |
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949,588 |
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| NET ASSETS - End of Year |
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$4,151,635 |
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2,351,208 |
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