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NORTH CAROLINA SELF-INSURANCE GUARANTY ASSOCIATION |
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SELECTED FINANCIAL DATA |
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Year ended |
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12/31/2002 |
12/31/2001 |
12/31/2000 |
12/31/1999 |
12/31/1998 |
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(unaudited) |
(audited) |
(audited) |
(audited) |
(audited) |
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Receipts: |
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Assessments |
$ |
822,651 |
173 |
405,209 |
8,564 |
19,795 |
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Proceeds from insolvencies |
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455,404 |
1,375,732 |
2,444,869 |
3,386,400 |
5,003,213 |
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Investment income |
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162,211 |
(290,349) |
381,667 |
374,850 |
379,734 |
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1,440,266 |
1,085,556 |
3,231,745 |
3,769,814 |
5,402,742 |
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Disbursements: |
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Claims and related expenses |
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1,257,677 |
1,440,881 |
3,064,651 |
3,393,782 |
5,316,329 |
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Assessments refunds |
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- |
- |
- |
- |
312,965 |
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Legal, accounting and consulting |
251,196 |
229,575 |
209,674 |
116,498 |
94,574 |
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Other |
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31,312 |
171,806 |
9,475 |
15,557 |
20,165 |
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1,540,185 |
1,842,262 |
3,283,800 |
3,525,837 |
5,744,033 |
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Net |
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$ |
(99,919) |
(756,706) |
(52,055) |
243,977 |
(341,291) |
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Total investments, at cost |
$ |
4,552,106 |
4,652,026 |
5,392,167 |
5,444,222 |
5,200,245 |
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Notes |
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The Association prepares its financial statements on the basis of recorded cash receipts and disbursements which differs from accounting principles generally accepted in the United States of Ameica in that no consideration is given to revenue or expense accruals which may exist at year end.
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