2015-02-02T13:00:01-08:00 2014-04-30 HAYNIE AND COMPANY CPAS 1785 West 2300 South Salt Lake City UT 841192065 990 2013-05-01 452137944 UTAH-IDAHO TEAMSTERS RETIREES TRUST UTAH 8019721177 PO BOX 30749 SALT LAKE CITY UT 84130 SPENCER HOGUE Trustee 2015-02-02 true Scott A Czaja CPA P00440065 8019724800 2013 2016-02-25 16:41:14Z 7737400 false false X N/A X 2010 UT TO PROVIDE HEALTH BENEFITS FOR RETIREES VIA A TAFT-HARTLEY COLLECTIVELY BARGAINED PLAN. 10 10 0 10 0 0 3751426 4273619 676108 848415 0 4427534 5122034 0 2612729 3918883 0 0 0 339607 587902 2952336 4506785 1475198 615249 30539443 30549198 90062 131137 30449381 30418061 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 10 10 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 BRYAN FLAKE Trustee 1.00 0.00 X 0 0 0 MARK BRIGGS Trustee 1.00 0.00 X 0 0 0 ART MILLER Trustee 1.00 0.00 X 0 0 0 CORY HASLAM Trustee 1.00 0.00 X 0 0 0 DAVE ANDERSON Trustee 1.00 0.00 X 0 0 0 MATT OGLESBY Trustee 1.00 0.00 X 0 0 0 MIKE CARNEFIX Trustee 1.00 0.00 X 0 0 0 LEISLE FITZGERALD Trustee 1.00 0.00 X 0 0 0 JIM JACKETTA Trustee 1.00 0.00 X 0 0 0 SPENCER HOGUE Trustee 1.00 0.00 X 0 0 0 0 false false false 0 0 EMPLOYER CONTRIBUTIONS 4267769 4267769 REFUNDS FROM CLAIMS ADJUS 5850 5850 4273619 823081 823081 0 0 0 2640700 2615366 25334 25334 25334 0 0 0 0 5122034 5122034 0 0 0 3918883 0 0 0 0 0 0 423469 87 24070 0 0 19950 30537 0 0 0 0 0 0 0 0 0 0 0 0 COST CONTAINMENT FEES 54579 LIFE INSURANCE PREMIUMS 21322 BANK CHARGES 11582 TAXES AND FEES 1840 466 4506785 0 0 0 0 3423247 1720303 0 490367 494989 0 0 0 0 0 0 20853751 23499410 5772078 4834496 0 0 0 30539443 30549198 90062 131137 90062 131137 X 30449381 30418061 30449381 30418061 30539443 30549198 615249 -646569 X false true X true false 4834496 X 4475465 -646569 -646569 5122034 5122034 4506785 4506785 4506785 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.Following is a description of the valuation methodologies used for assets measured at fair value. There have bee no changes in the methodologies used at April 30, 2014 and 2013.Corporate BondsValued using pricing methods maximizing the use of observable inputs for simialr securities. This includes basing values on yields currently available on comparable securities.U.S. Treasury ObligationsValued using pricing models maximizing the use of observable inputs.Assets itemized below were measured at fair value during the year ended April 30, 2014 and 2013 using the market approach.The following tables set forth by level, within the fair value hierarchy, the trust's assets at fair value as of April 30, 2014 and 2013.April 30, 2014Level 1 US Treasury Obligations $7,666,019Level 2Corporate Bonds $15,833,391Total $23,499,410April 30, 2013Level 1US Treasury Obligations $5,958,066Level 2Corporate Bonds $14,895,685Total $20,853,751The 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, 2014 and 2013:2014Interest and dividends $621,584Realized/unrealized gains ($621,235)2013Interest and dividends $526,034Realized/unrealized gain $541,066There were no investments at fair market value that represent 5% or more of total assets as of April 30, 2014 and 2013. 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. 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 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 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.