| Workers Compensation |
Note 7: Workers’ Compensation
The Company had two workers’ compensation programs in effect during the years ended August 31, 2020 and 2019. The Everest program covered corporate employees and WSEs from July 1, 2017 until June 30, 2018 and the SUNZ program has covered corporate employees and WSEs since July 1, 2018. The following table summarizes the workers’ compensation deposit from continuing operations for the years ended August 31, 2020 and 2019:
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|
|
|
|
|
|
|
|
|
|
|
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Everest
|
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SUNZ
|
|
|
|
|
|
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Program
|
|
Program
|
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Total
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Workers’ Comp Deposit at August 31, 2018
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|
$
|
336,000
|
|
523,000
|
|
$
|
859,000
|
|
Premiums paid
|
|
|
(32,000)
|
|
—
|
|
|
(32,000)
|
|
Paid in deposits
|
|
|
—
|
|
1,714,000
|
|
|
1,714,000
|
|
Claim losses
|
|
|
(33,000)
|
|
(410,000)
|
|
|
(443,000)
|
|
Deposit refund
|
|
|
(271,000)
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|
—
|
|
|
(271,000)
|
|
Workers’ Comp Deposit at August 31, 2019
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|
$
|
—
|
|
1,827,000
|
|
$
|
1,827,000
|
|
Paid in deposits
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|
|
—
|
|
601,000
|
|
|
601,000
|
|
Claim losses
|
|
|
—
|
|
(1,399,000)
|
|
|
(1,399,000)
|
|
Workers’ Comp Deposit at August 31, 2020
|
|
|
—
|
|
1,029,000
|
|
|
1,029,000
|
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Less Current Amount
|
|
|
—
|
|
(293,000)
|
|
|
(293,000)
|
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Long Term Balance at August 31, 2020
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|
$
|
—
|
|
736,000
|
|
$
|
736,000
|
The following table summarizes the workers’ compensation deposit from discontinued operations for the years ended August 31, 2020 and 2019:
|
|
|
|
|
|
|
|
|
|
|
|
|
Everest
|
|
SUNZ
|
|
|
|
|
|
|
Program
|
|
Program
|
|
Total
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Workers’ Comp Deposit at August 31, 2018
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|
$
|
1,180,000
|
|
1,835,000
|
|
$
|
3,015,000
|
|
Premiums paid
|
|
|
(112,000)
|
|
—
|
|
|
(112,000)
|
|
Paid in deposits
|
|
|
—
|
|
6,016,000
|
|
|
6,016,000
|
|
Claim losses
|
|
|
(116,000)
|
|
(1,440,000)
|
|
|
(1,556,000)
|
|
Deposit refund
|
|
|
(952,000)
|
|
—
|
|
|
(952,000)
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Workers’ Comp Deposit at August 31, 2019
|
|
$
|
—
|
|
6,411,000
|
|
$
|
6,411,000
|
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Paid in deposits
|
|
|
—
|
|
2,107,000
|
|
|
2,107,000
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|
Claim losses
|
|
|
—
|
|
(4,907,000)
|
|
|
(4,907,000)
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Workers’ Comp Deposit at August 31, 2020
|
|
|
—
|
|
3,611,000
|
|
|
3,611,000
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Less Current Amount
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|
|
—
|
|
(1,030,000)
|
|
|
(1,030,000)
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|
Long Term Balance at August 31, 2020
|
|
$
|
—
|
|
2,581,000
|
|
$
|
2,581,000
|
The following table summarizes the accrued workers’ compensation liability from continuing operations for the years ended August 31, 2020 and 2019:
|
|
|
|
|
|
|
|
|
|
|
|
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Everest
|
|
SUNZ
|
|
|
|
|
|
|
Program
|
|
Program
|
|
Total
|
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Workers’ Comp Liability at August 31, 2018
|
|
$
|
127,000
|
|
141,000
|
|
$
|
268,000
|
|
Claim loss development
|
|
|
—
|
|
1,581,000
|
|
|
1,581,000
|
|
Paid in losses
|
|
|
(33,000)
|
|
(410,000)
|
|
|
(443,000)
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Workers’ Comp Liability at August 31, 2019
|
|
$
|
94,000
|
|
1,312,000
|
|
$
|
1,406,000
|
|
Claim loss development
|
|
|
110,000
|
|
1,628,000
|
|
|
1,738,000
|
|
Paid in losses
|
|
|
—
|
|
(1,399,000)
|
|
|
(1,399,000)
|
|
Workers’ Comp Liability at August 31, 2020
|
|
|
204,000
|
|
1,541,000
|
|
|
1,745,000
|
|
Less Current Amount
|
|
|
(78,000)
|
|
(420,000)
|
|
|
(498,000)
|
|
Long Term Balance at August 31, 2020
|
|
$
|
126,000
|
|
1,121,000
|
|
$
|
1,247,000
|
The following table summarizes the accrued workers’ compensation liability from discontinued operations for the years ended August 31, 2020 and 2019:
|
|
|
|
|
|
|
|
|
|
|
|
|
Everest
|
|
SUNZ
|
|
|
|
|
|
|
Program
|
|
Program
|
|
Total
|
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Workers’ Comp Liability at August 31, 2018
|
|
$
|
445,000
|
|
493,000
|
|
$
|
938,000
|
|
Claim loss development
|
|
|
—
|
|
5,548,000
|
|
|
5,548,000
|
|
Paid in losses
|
|
|
(116,000)
|
|
(1,440,000)
|
|
|
(1,556,000)
|
|
Workers’ Comp Liability at August 31, 2019
|
|
$
|
329,000
|
|
4,601,000
|
|
$
|
4,930,000
|
|
Claim loss development
|
|
|
388,000
|
|
5,711,000
|
|
|
6,099,000
|
|
Paid in losses
|
|
|
—
|
|
(4,907,000)
|
|
|
(4,907,000)
|
|
Workers’ Comp Liability at August 31, 2020
|
|
|
717,000
|
|
5,405,000
|
|
|
6,122,000
|
|
Less Current Amount
|
|
|
(272,000)
|
|
(1,473,000)
|
|
|
(1,745,000)
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Long Term Balance at August 31, 2020
|
|
$
|
445,000
|
|
3,932,000
|
|
$
|
4,377,000
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