KIA&B 2016 Vol. 21, No. 6 | Page 26

annual audit of kansas self-insurance pools

A nnually KAIA publishes a comparison of financial information concerning the Kansas self-insured pools based on the audited financial statements of the pools submitted to the Kansas Department of Insurance . The audited financial statements are obtained by the KAIA through a Kansas Open Records request to the Department . This information is then provided to the accounting firm of Mize Houser & Company that prepares the comparison below . Complete copies of the audited financial statements obtained by the KAIA are available to members of the KAIA as a free service . Contact KAIA at 1-800-229- 7048 with questions about the pools or to request a copy of the audited financial statements .

Each year , KAIA accumulates selected information from the audited financial statements of the self-insurance funds operating in Kansas as a measure of the financial viability of self-funded pools . This year the information for these pools was summarized by the accounting firm of Mize Houser & Company , P . A . A complete copy of each audit is available as a free service to KAIA members . Contact KAIA at 1-800-229-7048 or dave @ kaia . com with questions about the pools or to request a copy of any audit . private pools
Kansas
Kansas
Kansas Building
Association of
Automobile
Kansas Restaurant
Kansas Livestock
Industry Workers '
Homes for the
Dealers Workers '
and Hospitality
Kansas Employers
Association Risk
KHA Workers '
Compensation
Aging Insurance
Compensation
Association self
Workers '
Management
Comepnsation
Fund
Group , Inc .
Fund
Insurance Fund , Inc .
Compensation Fund
Services , Inc .
Fund
12 / 31 / 15 03 / 31 / 16 12 / 31 / 15 12 / 31 / 15 12 / 31 / 15 12 / 31 / 15 12 / 31 / 15
REVENUES : Premiums earned Investment in County reinsurance Investment income Realized capital gain ( loss ) Other income
Total Revenues
EXPENSES : Incurred lossess / workers compensation claims Claims adjustment Claims management fees Administration Agent commissions Premium taxes Insurance taxes Excess insurance premiums Other underwriting expenses Other expenses
Total Expenses
Net income ( loss ) before dividends and income taxes Dividends paid to members
Net income ( loss ) before income taxes Provisions for income tax expense ( benefit )
Net Income ( Loss )
$ 10,834,778 $ 4,011,105 $ 3,519,198 $ 2,570,469 $ - $ 3,676,221 $ 4,677,602
1,095,016 269,095 212,462 304,965 17,518 422,171 259,848
141,731
12,071,525 4,280,200 3,731,660 2,875,434 17,518 4,098,392 4,937,450
6,075,308
1,983,863
1,774,639
2,017,774
( 101,695 )
1,408,341
2,745,033
350,166
( 3,834 )
299,132
862,500
252,127
( 73,936 )
590,893
799,203 245,344
89,847
( 6,795 )
962,353
221,768
236,110
199,477
308,881
487,145
178,976
774,622
1,044,842
1,336,918
61,496
114,302
9,419,126 3,418,297 2,830,831 3,053,369 ( 179,465 ) 2,415,622 4,277,020
2,652,399
861,903
900,829
( 177,935 )
196,983
1,682,770
660,430
423,171
74,999
592,000
1,500,385
200,000
2,229,228
786,904
308,829
( 177,935 )
196,983
182,385
460,430
711,204
-
84,700
( 62,315 )
( 28,118 )
364,939
1,518,024 786,904 224,129 ( 115,620 ) 196,983 210,503 95,491
Change in nonadmitted assets Change in provisions for reinsurance Change in net deferred income tax Refund of contributions Change in net unrealized gains ( losses ) on investm Prepaid expenses / premium assessments Extraordinary amounts of taxes for prior years Prior period adjustment Fund balance transfer
Members ' fund balance , beginning of year
12,406
( 11,790 )
( 40,033 )
2,440
( 93,836 ) -
193,007
( 14,000 )
61,502
212,490
( 912,547 ) 307,379 ( 68,886 ) 17,333 ( 410,682 ) ( 69,200 )
-
4,636,948
1,319,503
1,988,900
2,933,146
( 791,833 )
2,987,416
2,191,409
Members ' fund balance , end of year
$ 5,447,838 $ 2,401,996 $ 2,199,029 $ 2,708,607 $ ( 577,517 ) $ 2,851,179 $ 2,336,354
24 KANSAS INSURANCE AGENT & BROKER | November - December 2016 |