State of West Virginia - West Virginia Legislature

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West Virginia Board of Risk and Insurance ManagementUNAUDITED BALANCE SHEETASSETSShort Term AssetsCash and Equivalents 25,564September 302010 2009(in thousands)$ $ 27,026Advance Deposit with Carrier/Trustee 189,094 179,951Receivables - Net 1,174 1,254Prepaid Insurance 3,201 2,949Total Short Term Assets 219,033 211,180Long Term AssetsInvestments 126,379 114,938Total Long Term Assets 126,379 114,938TOTAL ASSETS 345,412 326,118LIABILITIESShort Term LiabilitiesAccounts payable 905 1,840Claims Payable 36 114OPEB Liability 181 87Agents Commissions Payable 1,538 323Unearned Revenue 7,097 7,428Current Estimated Claim Reserve 44,765 49,402Total Short Term Liabilities 54,522 59,194Long Term LiabilitiesCompensated Absences 66 58Estimated Noncurrent Claim Reserve 89,745 104,725Total Long Term Liabilities 89,811 104,783TOTAL LIABILITIES 144,333 163,977Prior Year Net Assets 192,207 150,958Current Year Earnings 8,872 11,183TOTAL NET ASSETS 201,079 162,141TOTAL LIABILITIES AND RETAINED EARNINGS $ 345,412 $ 326,118DRAFT - Unaudited - Management Purposes Only8/22/2011BRIM - Page 1
West Virginia Board of Risk and Insurance ManagementUNAUDITED INCOME STATEMENTFor the three months endingSeptember 302010 2009(in thousands)Operating RevenuesPremium Revenues $ 13,457 $14,761Less - Excess Insurance (1,516) (1,564)Total Operating Revenues 11,941 13,197Operating ExpensesClaims Expense 11,371 11,427Property & MS Claims Expense 856 1,924Personal Services 353 331General & Administrative Expense 660 656Total Operating Expenses 13,240 14,338Operating Income (Loss) (1,299) (1,141)Nonoperating RevenuesCourt Fees 7 10Investment Income 10,164 12,314Total Nonoperating Revenues 10,171 12,324Net Income 8,872 11,183DRAFT - Unaudited - Management Purposes Only8/22/2011BRIM - Page 2
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State of West VirginiaBoard of Risk
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West Virginia Board of Risk & Insur
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STATE OF WEST VIRGINIADEPARTMENT OF
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3UNFINISHED BUSINESSThere was no un
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State of West Virginia - West Virginia Legislature

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