Appendix A: Workers’ Compensation Trust Fund—Private Trust Fund Statement of Revenue, Expenditures, and Changes in Fund Balance

Revenue and expenditures for the Workers' Compensation Private Trust Fund.

Overview

Workers’ Compensation Trust Fund—Private Trust Fund
Statement of Revenue, Expenditures, and Changes in Fund Balance¹⁴

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	Fiscal Year 2018	Fiscal Year 2019
Balance July 1	$ 35,097,288	$ 45,588,750
Revenue
Interest	$         67,327	$      107,738
Assessments	60,220,391	48,262,678
Reimbursements	1,531,822	1,490,637
Total Revenue	$ 61,819,540	$ 49,861,053
Expenditures
Payments to Claimants	$   8,102,089	$   6,613,536
Payment to Insurers	34,897,940	34,926,733
Defense of Fund*	8,328,049	9,496,493
Total Expenditures	$ 51,328,078	$ 51,036,762
Balance June 30	$ 45,588,750	$ 44,413,041

*     This item includes various expenses, such as payroll; fringe benefits; printing; indirect costs; memberships; state office maintenance; automobile leases; office equipment, software, and maintenance; telecommunications; and snow removal.

14. Our review was not intended to enable us to express, and we do not express, an opinion on the Private Trust Fund Statement of Revenue, Expenditures, and Changes in Fund Balance. The disclosures of revenue, expenditures, and changes in fund balance represent information in the Workers’ Compensation Advisory Council Annual Report for the fiscal year ended June 30, 2019, and are intended solely for informational purposes.

Date published:	March 23, 2021