February 22, 2013 - Oregon State Bar

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OREGON STATE BAR
PROFESSIONAL LIABILITY FUND
2012 EXCESS PROGRAM BUDGET
Modified by PLF Board of Directors on October 6, 2012
2010 2011 2012 2012 2013
ACTUAL ACTUAL BUDGET PROJECTIONS BUDGET
Revenue
Ceding Commission 755,096 720,039 705,600 725,000 746,750
Profit Commission 13,508 21,684 0 0 0
Installment Service Charge 41,655 37,322 38,000 37,200 38,000
Other 424 703 1,500 1,400 1,500
Investment Earnings 427,932 22,315 228,551 341,093 185,374
Total Revenue $1,238,615 $802,063 $973,651 $1,104,693 $971,624
Expenses
Allocated Salaries $707,500 $732,877 $608,431 $608,431 $599,356
Direct Salaries 57,918 65,615 66,304 66,950 70,298
Allocated Benefits 195,965 228,289 215,760 215,760 226,874
Direct Benefits 17,224 15,938 23,812 23,942 26,657
Program Promotion 500 1,596 1,000 4,000 5,000
Investment Services 3,034 2,696 3,200 3,000 3,000
Allocation of Primary Overhead 317,976 3SS,938 275,635 275,635 278,874
Reinsurance Placement Travel 5,495 5,733 12,000 5,000 5,000
Training 0 0 1,000 500 500
Printing and Mailing 4,872 4,253 5,000 5,000 5,000
Other Professional Services 0 6,290 2,500 2,000 2,000
Software Development 0 0 0 0 0
Total Expense $1,310,487 $1,452,255 $1,214,642 $1,210,218 $1,222,559
Allocated Depreciation $35,641 $43,636 $35,996 $35,996 $30,056
Net Income $107,513 ($69~ $27( 6,987 $141,521 ($28
Full Time Employees 1.00 1.00 1.00 1.00 1.00
Number of Covered Attorneys 2,642 2,317 2,279 2,325 2,395
CHANGE IN OPERATING EXPENSES:
Decrease from 2012 Budget 0.65%
Decrease from 2012 Projections 1.02%