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

Offices of the Insurance Commissioner - Old Fund Thru July 2009 - Thirteenth Month
July 2009
April 2009 May 2009 June 2009 13th Month
Revenue
Premium/Repayment Agreement Contribs $ 83,409.03 $ 76,605.68 $ 50,831.52 $ -
Personal Income Tax (PIT) * $10,600,000.00 $10,600,000.00 $10,600,000.00 $ -
Other Collections/Fees/License & Income ** $ 58,814.83 $ 53,576.51 $86,431,042.51 $ -
SI Bankruptcy Recoveries $ 6,263.68 $ 18,905.58 $ 3,366.10 $ -
Premium Rec - NCO Collection Agency $ - $ - $ - $ -
Revenue Refunds to Employers $ - $ - $ - $ -
Sub-Total $10,748,487.54 $10,749,087.77 $ 97,085,240.13 $ -
Statutory Transfers *** $ 1,175,712.27 $ 19,525,714.06 $ 47,767,432.13 $ -
Investment Earnings $ 15,615,661.51 $ - $ 66,138,315.63 $ -
Total $ 27,539,861.32 $ 30,274,801.83 $210,990,987.89 $ -
Expenditures
Administrative Expense $ - $ - $ - $ -
Public Employees Insurance $ (8,904.62) $ - $ (8,591.56) $ -
Unemployment Compensation $ - $ - $ - $ -
Contractual/Professional/TPA Services $(1,744,418.92) $ (701,342.50) $ (3,055,957.48) $ 1,722,126.81)
Payment of Claims (Net Overpay Credits) $(21,418,990.81) $(20,836,112.17) $(20,198,749.92) $ -
Total $(23,172,314.35) $(21,537,454.67) $(23,263,298.96) $(1,722,126.81)
Total Revenue less Expenditures $ 4,367,546.97 $ 8,737,347.16 $187,727,688.93 $(1,722,126.81)
Prior Months Month Ending Cash Balance $ 9,652,935.12 $ 15,604,820.58 $ 5,304,167.74 $124,893,541.04
Investment with WVIMB and WVBTI $ 1,584,338.49 $(19,038,000.00) $(68,138,315.63) $ -
Month Ending Cash Balance $ 15,604,820.58 $ 5,304,167.74 $124,893,541.04 $123,171,414.23
Invested with WV Investment Mgmnt Bd $583,800,115.59 $602,838,115.59 $663,976,431.22 $663,976,431.22
Invested with WV Board of Treasury Invtmts $ 7,000,000.00 $ 7,000,000.00
Cash + Investments = Total Old Fund Bal $599,404,936.17 $608,142,283.33 $795,869,972.26 $794,147,845.45
Invested Balance with WVIMB $663,976,431.22 as of July 31, 2009 - Thirteenth Month
Invested Balance with WVBTI $7,000,000.00 as of July 31, 2009 - Thirteenth Month
* All months include $10.6 Million from Tax & Revenue except July, August and September per SB1004 §11-21-96.
**Coal Litigation Collections. July includes an additional principle payment from BrickStreet Insurance on the Surplus Note of
$60,000,000.00.
June includes principle and interest payments from BrickStreet Insurance on the Surplus Note of $86,377,466.00.
*** July and subsequent month amounts are transfers from the Debt Reduction Fund per SB1004 §23-2D-5.
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