West Virginia Offices of the Insurance Commissioner 2009 Annual ...

WEST VIRGINIA OFFICES OF THE INSURANCE COMMISSIONER
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET ASSETS
PROPRIETARY FUNDS
For the Year Ended June 30, 2009
(In Thousands)
Workers'
Compensation Access WV Total
Operating Revenues:
Statutory Allocations $ 229,826 2,069 $ 231,895
Assessments 48,201 - 48,201
Net Premium Revenue 1,720 3,893 5,613
Other Operating Revenue 15 109 124
Total Operating Revenue 279,762 6,071 285,833
Operating Expenses:
Claims and Claim Adjustment Expenses 42,034 3,165 45,199
General and Administration 19,959 365 20,324
Total Operating Expenses 61,993 3,530 65,523
Operating Income 217,769 2,541 220,310
Nonoperating Revenues (Expenses):
Investment Earnings 18,150 128 18,278
Net Increase (Decrease) in Fair Value of
Investments (107,320) - (107,320)
Nonoperating Revenues (Expenses) (89,170) 128 (89,042)
Change in Net Assets Before Brickstreet Transactions and
Transfers 128,599 2,669 131,268
Brickstreet Transactions, Net 25,741 - 25,741
Change in Net Assets (Deficit) 154,340 2,669 157,009
Total Net Assets - Beginning of Year (1,366,311) 8,493 (1,357,818)
Total Net Assets (Deficit) - End of Year ($1,211,971) $ 11,162 ($1,200,809)
13