TRS 2011 Comprehensive Annual Financial Report

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TEACHER RETIREMENT SYSTEM OF TEXAS COMPREHENSIVE ANNUAL FINANCIAL REPORT 2011 Statement of Revenues, Expenses and Changes in Fund Net Assets PROPRIETARY FUNDS FOR THE FISCAL YEAR ENDED AUGUST 31, 2011 (With Comparative Data for August 31, 2010) Enterprise Funds Major Fund Non-Major Fund E X H I B I T I V TRS-ActiveCare 403(b) Certification Program OPERATING REVENUES Health Care Premiums $ 1,549,530,891 $ Administrative Fees 135,917 Certification Fees 12,000 Product Registration Fees 3,000 TOTAL OPERATING REVENUES $ 1,549,666,808 $ 15,000 OPERATING EXPENSES Health Care Claims $ 1,510,090,981 $ Health Care Claims Processing 76,960,951 Premium Payments to HMOs 76,270,706 Administrative Expenses Salaries and Wages 1,144,484 115,014 Payroll Related Cost 257,632 33,430 Professional Fees and Services 726,115 Materials and Supplies 4,390 Communication and Utilities 883 Travel 2,221 Rental and Leases 65,140 Printing and Reproduction 885 Other Operating Expenses 5,301 TOTAL OPERATING EXPENSES $ 1,665,529,689 $ 148,444 OPERATING (LOSS) $ (115,862,881) $ (133,444) NON-OPERATING REVENUES Investment Income $ 3,387,062 $ 1,801 Federal Revenue - ARRA Cobra Reimbursements 667,746 On Behalf Fringe Benefits Paid by the State (Note 6) 67,373 7,898 TOTAL NON-OPERATING REVENUES $ 4,122,181 $ 9,699 Change in Net Assets $ (111,740,700) $ (123,745) TOTAL NET ASSETS - BEGINNING $ 299,810,127 $ 245,777 TOTAL NET ASSETS - ENDING $ 188,069,427 $ 122,032 The accompanying Notes to the Financial Statements are an integral part of this financial statement. 34 FINANCIAL SECTION
TEACHER RETIREMENT SYSTEM OF TEXAS COMPREHENSIVE ANNUAL FINANCIAL REPORT 2011 Total Enterprise Funds 2011 2010 $ 1,549,530,891 $ 1,329,171,411 135,917 125,321 12,000 30,000 3,000 21,000 $ 1,549,681,808 $ 1,329,347,732 $ 1,510,090,981 $ 1,313,114,197 76,960,951 67,906,654 76,270,706 64,532,253 1,259,498 1,217,962 291,062 275,858 726,115 478,581 4,390 9,121 883 1,021 2,221 3,358 65,140 65,745 885 209 5,301 4,128 $ 1,665,678,133 $ 1,447,609,087 $ (115,996,325) $ (118,261,355) $ 3,388,863 $ 6,425,587 667,746 1,225,158 75,271 72,362 $ 4,131,880 $ 7,723,107 $ (111,864,445) $ (110,538,248) $ 300,055,904 $ 410,594,152 $ 188,191,459 $ 300,055,904 FINANCIAL SECTION 35
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