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Risk management fund activity resulted in a $25,150 increase in net position compared to a planned decrease of
<br />$96,300. This increase is due in part to a reduction in liability premiums received with the increase in deductibles.
<br />Risk Management Fund 2014 2015 Change from 2014
<br />Actual Budget Actual Variance Percent Dollars
<br />Operating revenues:
<br />Customer charges
<br />Operating expenses:
<br />$ 473,300 $ 487,600 $ 486,085 $ (1,515) 2.7% $ 12,785
<br />Personnel services
<br />13,271
<br />16,300
<br />15,518
<br />782
<br />16.9% 21247
<br />Materials and supplies
<br />-
<br />2,300
<br />-
<br />2,300
<br />0.0% -
<br />Contractual services
<br />568,018
<br />577,300
<br />466,230
<br />111,070
<br />-17.9% (101,788)
<br />Total operating expenses
<br />581,289
<br />595,900
<br />481,748
<br />114,152
<br />-17.1% (99,541)
<br />Operating income (loss)
<br />(107,989)
<br />(108,300)
<br />4,337
<br />112,637
<br />-104.0% 1121326
<br />Nonoperating activity
<br />Interest on investments
<br />11,757
<br />12,000
<br />8,814
<br />(3,186)
<br />Change in fairvalue of investments
<br />47,971
<br />-
<br />(2,472)
<br />(2,472)
<br />Miscellaneous Revenue
<br />64,945
<br />-
<br />14,471
<br />14,471
<br />Total nonoperating activity
<br />124,673
<br />12,000
<br />20,813
<br />8,813
<br />Change in net position
<br />16,684
<br />$ (96,300)
<br />25,150
<br />$121,450
<br />Beginning net position, restated
<br />1,346,689
<br />1,354,427
<br />Ending net position
<br />$ 1,363,373
<br />$ 1,379,577
<br />Contractual services were under budget due to the liability and worker's compensation insurance premiums
<br />decreasing by $85,088. The previous year decrease was mainly due to the reclassification of the insurance
<br />dividend of $81,164 from miscellaneous revenue to contractual services.
<br />Beginning net position was restated due to the addition of an $8,946 net pension for GASB 68.
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