Messa 2008 Balance Sheet

l\IJICID'GAN EDUC'A ',1 0 SPEICIAL SE'VICEIS ASS,OCIATION ''''TE-'i:t'm,'I' il\~NTSO' .' "LEF'O'-""RBE_,', ,.ft, ''.'' ••FNETAS' "",~, ,-'",', "S'ET'SAV"AlLAB-" .." ,. ,,' ~', I' I NE' FITI'S'1 ST ,': 'B--.ENE,'.F"IT'- DB'·L'IGA:·TIl'0"'N,IS'· AND JUNE 30, 2008 .•' " '2007 1

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2007

ASSETS: Ca ~,h, and cash equiv,ale,nts, Investments (Note 3) Co tributlons rece, vahle from or on behalf of members Rate stabil~zation reserves W"ith nn,derwriters (Note 4) Miscellaneous receiv'ables and prepa,yments . Deferreid co,mpensat·on deposits (Note 5) Property a Id e'q'uipm,ent, ,ess accumulate,d depreciation (N'lote 6)

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24,389 1,94 237,7'27,,138 , _,:J"'7'4 '.. ,., ,,'8'2S ,., ', . . 11

$

1,484,1048

137,61,4,788 1,39,5,,764

484,62,8

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16,978,5'49'- 4349,,." 9",~, .,,:,1<0044

TOTAL AS,S,ETS " ,.', ·IL·.- TIE-'" -, S-, L·· lAB,,·,

3],5 06,6,4,56 233,869,2811 6,,796,605 1514"'· '7'5· 5~, '3:.,3"3-.

4 _,I,.~ 9".57 43-094'.'

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4,273,863, 2,10,87,274 11 ,99 ,79'7' 4,444,586 I ,7-"5'0' "" 500

Claims draft outstanding Accounts payabJ,e Due to insurance companle,s Ac,c,rue,d payroll and related '-'terns, Accrued C ,a'-ms proces"in,g exp~enses Me- 'biers' co--trlbutions received in advance Deferred compens.ation payable Ac,cnI1ed pension liability (Note 8) Accrued r'et~, ee - ealthcar'eenefits (Note 9) ,otes payable (Note 10)

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13,3198'1648 4, 722,,84,2 ,,,7,50.500 23, 040,6,,93 1

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2,080.311

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4,84,628, 131~_, ,85",882 14,518,289

1,2,14 939' 1 923,933

7,262,,5'00

7,787,500

724,46,8

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TOTAL, LIAB . ,ITIES

7]5'69,957

'NET ASS,ETS AVAILABL,E FO'R BENEFIT'S IN EXCESS IOF' BENEFIT OB,LIGAT ONS,

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364,954,,643

359.,-37'9,',-500, 1

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THIS NUMBER REPRESENTS THE ACCUMULATED NET PROFITS MESSA HAS EARNED. JUST BECAUSE IT IS CLASSIFIED AS A NON-PROFIT DOES NOT MEAN THAT MESSA CAN'T EARN MONEY. IT'S JUST RESTRICTED ON WHAT IT CAN DO WITH THAT MONEY. JUST KEEP IN MIND, AS MICHIGAN SCHOOL STRUGGLE TO PAY BILLS BECAUSE STATE FUNDING HAS NOT KEPT UP WITH INFLATION, THESE EARNINGS REPRESENT FUNDS THAT COULD BE USED TO KEEP TEACHERS EMPLOYED.

NOTE THAT THIS CONTAINS NONQUALIFED PLAN BENEFITING THOSE EARNING OVER $225,000 PER YEAR.

MESSA IS JUST PULLING MONEY OUT OF A CLOSED LOOP SYSTEM AND SACRIFICING TEACHER JOBS IN THE PROCESS.

Slee notes to financial state ,-e,nts

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