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MESSA 2008 Balance Sheet

MESSA 2008 Balance Sheet

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Published by R1Lawrence
From MESSA's 2008 financial statement (page 4 or document, page 2 of statement) is the true magnitude of how much money MESSA holds on it's balance sheet. This money belongs to it's members (teachers, public service employees, and school districts that contribute their payroll to MESSA under collective bargaining agreements). It's time to send the money back to the members.
From MESSA's 2008 financial statement (page 4 or document, page 2 of statement) is the true magnitude of how much money MESSA holds on it's balance sheet. This money belongs to it's members (teachers, public service employees, and school districts that contribute their payroll to MESSA under collective bargaining agreements). It's time to send the money back to the members.

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Published by: R1Lawrence on Apr 20, 2009
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06/16/2009

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l\IJICID'GAN EDUC'A ',1

1
0
1
' SPEICIAL SE'VICEIS ASS,OCIATION
ST
''''TE- FNETAS'S'ET'SAV"AlLAB-" .' "LEF'O'-""RBE-NE'FITI'S' _,', ,.ft, i:t'm,'I' ''.'' •• ,-'",', " .." ,. ,,' ,.',-=--., .' ",I", ," '. ',' '. I' I .,,1 ." 1_: 1
AND
,': 'B--.ENE,' . F"IT' - DB'·L'IGA:·TIl'0"'N,IS'· "" ' ' , , .,.' , ',' , ,I, ,',: '. ',' "
JUNE 30, 2008 .•' " '2007
ASSETS:
Ca and cash equiv,ale,nts,
Investments (Note 3)
Co tributlons rece, vahle from or on behalf of members
Rate 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)
TOTAL AS,S,ETS
L
·· lAB,,·, " ,.', ·IL·.- TIE-'" -, S-, II
, ,. "'. ' ".' - II
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
Me-
c
. 'biers' co--trlbutions received in advance
Deferred compens.ation payable
Ac,cnI1ed pension liability (Note 8)
Accrued ee -ealthcar'eenefits (Note 9)
,otes payable (Note 10)
TOTAL, LIAB . ,ITIES
'NET ASS,ETS AVAILABL,E FO'RBENEFIT'S IN
EXCESS IOF' BENEFIT OB,LIGAT ONS,
..
$ 3],5 06,6,4,56
233,869,2811
6,,796,605
15
14"'· '7'5· '3:.,3"3-.
1
" ' ',I " -' ,-' ,1'- '
1,484,1048
484,62,8
16,978,5'49' -
44
- 4349- -
, ,." .,,:,1<00
4,273,863,
2,10,87,274
11,99 ,79'7'
4,444,586
I 7
-"5'0' 500
.. "" I I
, . "" ," ' "'.

4,84,628,
,85",882
14,518,289
7,262,,5'00
,$ 364,954,,643
2007
$ 24,389 1,94
237,7'27,,138
11 "'7'4 8'2S
, _,:J '.. ,., ,,' ,.,,', ....
137,61,4,788
1,39,5,,764
'72' 4 46"8" .. ,-', '" "
4
-094- 4 -
'.' - ," .' I.
'J 3 9".57
4
1 '9"26' 123' ',' .. ' "'" .. " .... '.
2,080.311
13,3198'1648
4,722,,84,2
,,,7,50
1
.500
23, 040,6,,93
724,46,8
1,2,14 939'
1 923,933
7,787,500
1
7]5'69,957
3
1
59 37'9, 500,
. .,- ',--
Slee notes to financial state ,-e,nts 2
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.

MESSA IS JUST PULLING MONEY OUT OF A CLOSED LOOP SYSTEM AND SACRIFICING TEACHER
JOBS IN THE PROCESS.
NOTE THAT THIS
CONTAINS
NONQUALIFED
PLAN BENEFITING
THOSE EARNING
OVER $225,000
PER YEAR.

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