KIA&B November/December 2021 | Page 46

MANAGE SPECIAL & REPORT LEAD

ANNUAL AUDIT OF KANSAS SELF-INSURANCE POOLS

Annually , KAIA publishes a comparison of financial information of 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 .
PRIVATE POOLS
Kansas
Kansas
Medicalodges
Kansas Building
Association of
Automobile
Kansas Restaurant
Kansas Livestock
Affiliates Workers '
Kansas Truckers
Wichita Auto
Industry Workers '
Homes for the
Dealers Workers '
and Hospitality
Kansas Employers
Association Risk
KHA Workers '
Compensation
Risk
Dealers Self
Compensation
Aging Insurance
Compensation
Association self
Workers '
Management
Comepnsation
Self-Insurance
Management
Insurance Fund
Fund
Group , Inc .
Fund
Insurance Fund , Inc .
Compensation Fund
Services , Inc .
Fund
Pool
Group , Inc . Trust
( Reviewed )
12 / 31 / 2020
3 / 31 / 2021
12 / 31 / 2020
12 / 31 / 2020
12 / 31 / 2020
12 / 31 / 2020
12 / 31 / 2020
10 / 31 / 2020
12 / 31 / 2020
12 / 31 / 2020
REVENUES : Premiums earned
$
9,085,073
$
2,592,968
$
2,735,238
$
1,957,000
$
-
$
4,128,544
$
3,518,809
$
5,659,909
$
674,675
Investment income
339,773
314,195
172,038
442,016
201
151,611
543,089
60
121,213
11,423
Realized capital gain ( loss )
-
2,387
Other income
329,375
138,486
-
Total Revenues 9,754,221 2,907,163 2,907,276 2,537,502 201 4,280,155 4,061,898 60 5,783,509 686,098
EXPENSES : Incurred lossess / workers compensation claims
5,524,860
1,022,068
1,184,123
1,278,072
( 8,011 )
2,286,183
1,385,326
2,127,400
423,133
Claims adjustment
169,715
( 2,928 )
523,489
Claims management fees
232,496
24,970
Administration
838,918
227,313
18,802
538,636
250
2,052,337
40,480
Agent commissions
885,127
Premium taxes
213,761
51,370
195,199
18,137
Insurance taxes Excess insurance premiums
712,452
219,717
204,103
143,591
324,522
393,715
1,177,923
94,796
Other underwriting expenses
166,583
722,234
988,037
Other expenses
1,744,224
63,909
28,886
14,549
Total Expenses 9,080,424 2,250,418 2,065,988 2,207,806 7,863 3,373,426 2,767,078 250 5,881,149 616,065
Net income ( loss ) before dividends and income taxes
673,797
656,745
841,288
329,696
( 7,662 )
906,729
1,294,820
( 190 )
( 97,640 )
70,033
Dividends paid to members
350,000
350,004
740,000
399,829
400,000
-
208,702
Net income ( loss ) before income taxes
323,797
306,741
101,288
329,696
( 7,662 )
506,900
894,820
( 190 )
( 97,640 )
( 138,669 )
Provisions for income tax expense ( benefit )
198,962
-
33,100
39,184
135,608
159,658
( 41,961 )
( 25,380 )
5,279
Net Income ( Loss ) 522,759 306,741 68,188 290,512 ( 7,662 ) 371,292 735,162 41,771 ( 72,260 ) ( 143,948 )
Change in nonadmitted assets
47,751
( 12,672 )
50,460
-
10,526
( 109,992 )
( 193,502 )
Change in provisions for reinsurance
Change in net deferred income tax
( 183,511 )
-
( 28,337 )
( 22,950 )
Refund of contributions Change in net unrealized gains ( losses ) on investments
521,976
720,027
30,514
16,465
285,100
275,963
Prepaid expenses / premium assessments Extraordinary amounts of taxes for prior years Prior period adjustment Fund balance transfer
-
Members ' fund balance , beginning of year
7,749,328
5,824,280
2,889,535
3,978,802
( 354,503 )
2,215,480
4,065,057
32,471
1,255,303
972,241
Members ' fund balance , end of year $ 8,658,303 $ 6,838,376 $ 2,988,237 $ 4,336,239 $ ( 362,165 ) $ 2,854,061 $ 4,943,240 $ 74,242 $ 989,541 $ 828,293
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