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F.I.T. Financials
Audited Financial Summary
Statics:
Membership Growth
Statuary Reserves
Written Premium
Surplus
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| AUDITED BALANCE SHEET |
5/31/2010 ‐ 5/31/2011 |
| Assets |
|
| Cash and cash equivalents |
$ 1,659,865 |
| Funds on deposit |
54,547 |
| Claims expense recoverable |
309,396 |
| Deductibles receivables |
220,258 |
| Other receivables |
51,835 |
| Excess insurance premium recoverable |
184,079 |
| Excess recoverables on paid losses |
550,624 |
| Excess recoverables on unpaid losses |
1,093,080 |
| Deferred tax assets |
86,315 |
| Federal and state income tax recoverable |
89,973 |
| |
$4,299,972 |
| |
|
| Liabilities and Fund Balance |
|
| Unpaid losses and loss adjustment expenses |
$3,804,265 |
| Accounts payable and accrued expenses |
45,826 |
Total liabilities |
$3,850,091 |
| Fund balance |
449,881 |
| |
$ 4,299,972 |
 Graph A: Membership Growth
Graph B: Statuary Reserves Overview
Graph C: Written Premium Overview
Graph D: Surplus Overview
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Administered by Non-Profit Insurance Services, Inc. 
