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FINANCIAL MANAGEMENT INFORMATION REPORT

FINANCIAL MANAGEMENT INFORMATION REPORT. Presented by: Hesam Fayaz December 2, 2011. SETECH (Service Enhancement Technologies). 10/11 Funding $ 751,703 Investment Income 12,636

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FINANCIAL MANAGEMENT INFORMATION REPORT

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  1. FINANCIAL MANAGEMENT INFORMATION REPORT Presented by: Hesam Fayaz December 2, 2011 SETECH (Service Enhancement Technologies)

  2. 10/11 Funding $ 751,703 Investment Income 12,636 Claims Paid 10/11 (368,311) Statement of Net Assets (Page 1)

  3. 10/11 Claim Ultimates $ 619,996 Deferred Revenue 65,290 Decrease Ult PY 09/10/Prior (53,062) Utilization in Due to Members (83,845) Net Claims Paid 10/11 (368,311) Statement of Net Assets (Page 1)

  4. Decrease ULAE 09/10 Prior $ 257,269 Prior Year Adjustments 71,011 Decrease Ult PY 09/10/Prior 53,062 Interest Income 12,636 Net Deficit in PY 10/11 (129,405) Statement of Net Assets (Page 1) Net Assets $ 898,152 Capital Target - 90% Probability (193,396) - Additional (200,000) Net Assets in Excess 504,756

  5. Additional Endorsements $ 22,387 Prior Year Member Contribution (1,336) Investment Income 1,636 Adopted Budget Versus Actual (Page 2)

  6. Administrative $ (221,442) ReLiEF/Other Ins 22,387 Claims Pd/Chng Liab 35,581 Adopted Budget Versus Actual (Page 2)

  7. Calculation of Net Assets/(Deficit) by Program Year – Pg 4

  8. Actual Costs as a % of Original Net Contributions – Pg 5 Overall – 76.98% 10 Year – 84.23%

  9. Estimated Ultimate Incurred by Program Year – Pg 12 Incurred but not reported Actuarial estimate above incurred Difference between incurred and paid claims Paid claims within EBSIG level Total Discounted Claim Liabilities - $1,082,563 IBNR – $442,996 - 40.92% Unpaid Reserves – $639,567 - 59.08%

  10. Schedule of Discounted Claim Liabilities – Pg 13

  11. Questions ? Thank you from the Team

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