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Statement 22
<br />Cabarrus County, North Carolina
<br />Internal Service Funds
<br />Combining Statement of Revenues, Expenditures and Changes in Fund Net Assets
<br />For the Year Ended June 30, 2012
<br />Worker'sSelf-Insured
<br />CompensationHospitalization
<br />FundFundTotal
<br />Operating revenues:
<br />Insurance premiums-$ 8,137,288$ 8,137,288$
<br />Insurance refunds- 120,016 120,016
<br />Total operating revenues- 8,257,304 8,257,304
<br />Operating expenses:
<br />General and administrative- 1,710,650 1,710,650
<br />Claims350,000 9,116,100 9,466,100
<br />Total operating expenses350,000 10,826,750 11,176,750
<br />Operating income (loss)(350,000) (2,569,446) (2,919,446)
<br />Nonoperating revenues:
<br />Early retiree reinsurance program grant (ERRP)- 96,067 96,067
<br />Investment earnings- 6,391 6,391
<br />Total nonoperating revenues- 102,458 102,458
<br />Income (loss) before transfers(350,000) (2,466,988) (2,816,988)
<br />Transfers:
<br />Transfers in - General Fund- 2,000,000 2,000,000
<br />Total transfers- 2,000,000 2,000,000
<br />Change in net assets(350,000) (466,988) (816,988)
<br />Net assets, July 1350,000 2,736,479 3,086,479
<br />Net assets, June 30-$ 2,269,491$ 2,269,491$
<br />104
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