|
Risk management fund activity resulted in a $189,970 increase in net position compared to a planned decrease of
<br />$45,600. This increase is due in part to a reduction in liability premiums received with the increase in deductibles along
<br />with a $120,808 dividend reimbursement from the League.
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />• Contractual services were under budget due to a $38,253 decrease in the liability and $73,420 worker’s
<br />compensation insurance premiums. The yearly dividend reimbursement from the League was also $35,916 more
<br />than in 2015.
<br />• Ending cash balance is $1,771,264.
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />Risk Management Fund 2015
<br />Actual Budget Actual Variance Percent Dollars
<br />Operating revenues:
<br />Customer charges 486,085$ 499,700$ 499,700$ -$ 2.8%13,615$
<br />Operating expenses:
<br />Personnel services 15,518 16,700 19,476 (2,776) 25.5%3,958
<br />Materials and supplies - 2,300 - 2,300 0.0%-
<br />Contractual services 466,230 538,500 311,120 227,380 -33.3%(155,110)
<br />Total operating expenses 481,748 557,500 330,596 226,904 -31.4%(151,152)
<br />Operating income (loss)4,337 (57,800) 169,104 226,904 3799.1%164,767
<br />Nonoperating activity
<br />Interest on investments 8,814 12,200 20,921 8,721
<br />Change in fair value of investments (2,472) - (6,553) (6,553)
<br />Intergovernmental - - 149 149
<br />Miscellaneous Revenue 14,471 - 6,349 6,349
<br />Total nonoperating activity 20,813 12,200 20,866 8,666
<br />Change in net position 25,150 (45,600)$ 189,970 235,570$
<br />Beginning net position, restated 1,354,427 1,379,577
<br />Ending net position 1,379,577$ 1,569,547$
<br />2016 Change from 2015
|