2014-02-03T16:10:54-08:00 2013-04-30 HAYNIE AND COMPANY CPAS 1785 West 2300 South Salt Lake City UT 841192065 990 2012-05-01 452137944 UTAH-IDAHO TEAMSTERS RETIREES TRUST UTAH 8019721177 PO BOX 30749 SALT LAKE CITY UT 84130 SPENCER HOGUE 2014-02-03 true Scott A Czaja CPA P00440065 8019724800 2012 2015-11-30 17:44:51Z s 5386805 false false X N/A X 2010 UT TO PROVIDE HEALTH BENEFITS FOR RETIREES VIA A TAFT-HARTLEY COLLECTIVELY BARGAINED PLAN. 11 11 0 11 0 0 3625874 3751426 770409 676108 0 4396283 4427534 0 2049462 2612729 0 0 0 253805 339607 2303267 2952336 2093016 1475198 24195599 30539443 27356 90062 24168243 30449381 TO PROVIDE HEALTH BENEFITS FOR RETIREES VIA A TAFT-HARTLEY COLLECTIVELY BARGAINED PLAN. false false PROVIDE HEALTH BENEFITS FOR RETIREES UNDER A TAFT-HARTLEY COLLECTIVELY BARGAINED PLAN. false false false false false false false false false false false true false false false true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 0 0 false 0 false false false false false false false false false false false false false X 11 11 true true false false false true false true true false false true true true true true true false false false X FRANK CORBETT 8019721177 2621 SOUTH 3270 WEST SALT LAKE CITY UT 84130 X SPENCER HOGUE 1.00 0.00 X 0 0 0 JIM JACKETTA 1.00 0.00 X 0 0 0 LEISLE FITZGERALD 1.00 0.00 X 0 0 0 MIKE CARNEFIX 1.00 0.00 X 0 0 0 MATT OGLESBY 1.00 0.00 X 0 0 0 DAVE ANDERSON 1.00 0.00 X 0 0 0 CORY HASLAM 1.00 0.00 X 0 0 0 MAX HALLFRISCH 1.00 0.00 X 0 0 0 ROBERT LEE 1.00 0.00 X 0 0 0 RUSTY HART 1.00 0.00 X 0 0 0 BRYAN FLAKE 1.00 0.00 X 0 0 0 0 false false false 0 0 REFUNDS FROM CLAIMS ADJUS 4017 4017 EMPLOYER CONTRIBUTIONS 3747409 3747409 3751426 726134 726134 0 0 0 909245 959271 -50026 -50026 -50026 0 0 0 0 4427534 4427534 0 0 0 2612729 0 0 0 0 0 0 262931 652 4460 0 0 12900 3375 0 0 0 0 0 0 0 0 0 0 0 0 Printing and Publications 262 BANK CHARGES 8732 LIFE INSURANCE PREMIUMS 21687 COST CONTAINMENT FEES 24608 0 2952336 0 0 0 0 1288472 3423247 0 524668 490367 0 0 0 0 0 0 16863622 20853751 5518837 5772078 0 0 0 24195599 30539443 27356 90062 27356 90062 X 24168243 30449381 24168243 30449381 24195599 30539443 X 1475198 591092 4214848 X false true X true false 5772078 X 5018626 591092 591092 4427534 4427534 2952336 2952336 2952336 Part X Part X : FIN48 Footnote The Trust follows the recommendations of Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 820 Fair Value Measurements and Disclosures for financial assets and liabilities measured on a recurring basis. ASC 820 clarifies that fair value is an exit price, representing the amount that would be received upon the sale of an asset, or the amount paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability.ASC 820 established a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements).The three levels of the fair value hierarchy under ASC 820 are described below:Level 1Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Trust has the ability to access.Level 2Inputs to the valuation methodology include: - Quoted prices for similar assets or liabilities in active markets; - Quoted prices for identical or similar assets or liabilities in inactive markets; - Inputs other than quoted prices that are observable for the asset or liability; - Inputs that are derived principally from or corroborated by observable market data by correlation or other means. If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.Level 3Inputs to the valuation methodology are unobservable and significant to the fair value measurement.The asset or liability's fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.The preceding methods described may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the Trust believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.The Trust has adopted the reporting requirements of FASB Accounting Standards Update 2010-06, Fair Value Measurements and Disclosures: Improving Disclosures about Fair Value Measurements, which changes the way transfers in and out of Levels 1 and 2, activity in Level 3 fair value measurements, and inputs and valuation techniques are reported. There are three general valuation techniques that may be used to measure fair value, as described below: Market approach Uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. Prices may be indicated by pricing guides, sale transactions, market trades, or other sources; Cost approach Based on the amount that currently would be required to replace the service capacity of an asset (replacement cost); Income approach Uses valuation techniques to convert future amounts to a single present amount based on current market expectations about the future amounts (includes present value techniques, and option-pricing models). Net present value is an income approach where a stream of expected cash flows is discounted at an appropriate market interest rate.Assets itemized below were measured at fair value during the year ended April 30, 2013 using the market approach.Level 1 US Treasury Obligations $5,958,066Corporate Bonds $14,895,685There were no significant transfers in or out of Levels 1 or 2 during 2013 or 2012.The following schedule summarizes unrestricted marketable U.S. Treasury Obligations and Corporate Bond investment returns and the classification included in the Statement of Activities for the fiscal years ended April 30, 2013:Interest and dividends $526,034Realized/unrealized gain $541,066 Form 990, Part XI, Line 9 Other Changes In Net Assets Or Fund Balances - Other Increases TRANSFER OF AGC WELFARE TRUST = $4214848 Form 990, Part VI, Line 19 Form 990, Part VI, Line 19: Other Organization Documents Publicly Available THE BOARD OF TRUSTEES WILL MAKE DOCUMENTS WHICH ARE SUBJECT TO THE PUBLIC DISCLOSURE RULES AVAILABLE ONCE THEY RECEIVE A REQUEST. Form 990, Part VI, Line 12c Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts The Board of Trustees are asked at every Board meeting if they have any possible conflict of interest as described in the Trust's Conflict of Interest Policy. Once annually each Board member is required to sign an affidavit attesting to the fact that they have no conflict of interest or disclose the possible conflict. Form 990, Part VI, Line 11b Form 990, Part VI, Line 11b: Form 990 Review Process THE BOARD OF TRUSTEES HIRE AN INDEPENDENT CPA TO PREPARE THE TRUST'S 990 TAX RETURN. ONCE IT HAS BEEN COMPLETED AND REVIEWED BY THE BOARD OF TRUSTEES AND THEY ARE SATISFIED THAT IT IS COMPLETE AND ACCURATE THEY AUTHORIZE THE CPA TO ELECTRONICALLY FILE THE 990. Form 990, Part VI, Line 3 Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company THE TRUSTEES HAVE RETAINED CORBETT BENEFIT TO ACT AS THE ADMINISTRATOR OF THE HEALTH CARE PROVISIONS OF THE TRUST. CORBETT BENEFIT IS NOT RELATED TO ANY OF THE TRUSTEES AND IS AN INDEPENDENT THIRD PARTY ADMINISTRATOR. CORBETT BENEFIT IS A PARTY-IN-INTEREST.