The financial summary reflects a strong and healthy insurance operation. Your Society, through prudent management of it's investments and expenses, has not only been able to meet all of it's obligations but increase it's surplus funds each year! | | | | | | | | | ASSETS | | 12/04 | | 12/03 | | SURPLUS CHANGE | | | | | | | | | | BONDS | | 25,373,065 | | 24,936,661 | | 436,404 | | PREFERRED STOCK | | 588,074 | | 466,566 | | 121,508 | | COMMON STOCK | | - | | - | | - | | REAL ESTATE | | 245,515 | | 289,015 | | (43,500) | | POLICY LOANS | | 578,267 | | 549,952 | | 28,315 | | CASH/BANK | | 737,476 | | 409,226 | | 328,250 | | DATA PROCESSING | | 62,800 | | 39,572 | | 23,228 | | PREMIUM DUE/DEFERRED | | 828,337 | | 825,178 | | 3,159 | | INTEREST DUE/ACCRUED | | 283,886 | | 309,944 | | (26,058) | | INVESTMENT RECEIVABLE | | - | | 84,495 | | (84,495) | | | | | | | | | | TOTALS: | | 28,697,420 | | 27,910,609 | | 786,810 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | LIABILITIES | | 12/04 | | 12/03 | | SURPLUS CHANGE | | | | | | | | | | LIFE RESERVES | | 16,763,609 | | 16,155,752 | | (607,857) | | A & H RESERVES | | 25,138 | | 26,207 | | 1,069 | | LIFE CLAIMS | | 370,000 | | 370,000 | | - | | A & H CLAIMS | | 20,000 | | 20,000 | | - | | PREMIUM REC IN ADVANCE | | 95,397 | | 97,543 | | 2,146 | | IMR | | 294,110 | | 302,784 | | 8,674 | | GENERAL EXPENSES | | 85,000 | | 85,000 | | - | | TAXES, LICENSES & FEES | | 3,000 | | 3,000 | | - | | UNEARNED INV. INCOME | | 14,457 | | 13,749 | | (708) | | AMTS W/H OR RETAINED | | 2,777 | | 2,510 | | (267) | | AVR | | 79,473 | | 122,205 | | 42,732 | | | | | | | | | | TOTALS: | | 17,752,961 | | 17,198,750 | | (554,211) | | | | | | | | | | UNASSIGNED SURPLUS | | 10,944,459 | | 10,711,859 | | 232,600 | | | | | | | | | | | | | | | | SURPLUS | | INCOME | | 12/04 | | 12/03 | | CHANGE | | | | | | | | | | PREMIUM INCOME | | 4,207,383 | | 4,272,093 | | (64,710) | | NET INVESTMENT INCOME | | 1,245,456 | | 1,314,303 | | (68,847) | | IMR INCOME | | 276,927 | | 99,459 | | 177,468 | | | | | | | | | | TOTALS: | | 5,729,766 | | 5,685,855 | | 43,911 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | SURPLUS | | DISBURSEMENTS | | 12/04 | | 12/03 | | CHANGE | | | | | | | | | | DEATH CLAIMS | | 2,308,694 | | 2,215,731 | | (92,963) | | ANNUITY/OLD AGE BENEFITS | | 141,421 | | 135,443 | | (5,978) | | DISABILITY BENEFITS | | 5,635 | | (13,387) | | (19,022) | | SURRENDER BENEFITS | | 331,038 | | 326,052 | | (4,986) | | INCREASE IN RESERVES | | 606,788 | | 648,647 | | 41,859 | | COMMISSIONS | | 1,000 | | 1,000 | | - | | GENERAL EXPENSES | | 2,016,828 | | 1,968,297 | | (48,531) | | TAXES, LICENSES & FEES | | 76,588 | | 72,398 | | (4,190) | | INCREASE IN LOADING | | (29,072) | | (3,766) | | 25,306 | | | | | | | | | | TOTALS: | | 5,458,920 | | 5,350,414 | | (108,505) | | | | | | | | | | NET INCOME | | 270,846 | | 335,441 | | (64,594) | | | | | | | | | | NET REALIZED INV. GAINS | | 881 | | 58,767 | | (57,886) | | | | | | | | | | NET GAIN FROM OPERATION | | 271,727 | | 394,208 | | (122,480) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | SURPLUS STATEMENT | | | | | | | | | | | | | | | | | | NET INCOME FROM OPERATIONS | | 271,727 | | 394,208 | | (122,480) | | CHANGE IN UNREALIZED GAINS | | (81,861) | | (109,815) | | 27,954 | | CHANGE IN AVR RESERVE | | 42,732 | | 74,517 | | 31,785 | | PRIOR YEAR ADJUSTMENT | | - | | (7,329) | | 7,329 | | | | | | | | | | CHANGE IN SURPLUS FUNDS | | 232,598 | | 351,581 | | (118,983) | | | | | | | | | | SURPLUS FUNDS PRIOR | | 10,711,859 | | 10,360,274 | | 351,581 | | | | | | | | | | SURPLUS FUNDS CURRENT | | 10,944,459 | | 10,711,859 | | 232,599 | | | | | | | | | |
