A Specific Assessment was collected from the members beginning in 2017. The purpose of this assessment is to increase the Liquidity Fund to a Base Level of $200 million by 2021. This Fund provides immediate cash to meet Assuris’ obligations in any future insolvency before assessing Members. Our Liquidity Fund was $148 million at December 31, 2018.

Statement of Financial Position

Assets and Liabilities

Total assets of $152.4 million consists of $2.1 million of cash and cash equivalents, $149 million of liquid bonds, $0.6 million of accrued investment income and $0.7 million of other assets.

Total liabilities of $1.3 million consists of accounts payable, accrued liabilities and employee future benefits.

Statement of Comprehensive Income

Revenue and Expenses

Total revenue of $8.3 million is from an Administrative Assessment to Members of $6.0 million and an investment income of $2.3 million from bonds and short-term investments.

Total overall operating expenses of $5.6 million are consistent with the previous year.