WORKSITE EMPLOYEE RELATED ASSETS AND LIABILITIES

WSE related assets and WSE related liabilities are intended to be reviewed together when considering the position of the company. The client directs the price and service specifications for payroll and payroll taxes and as a result, we are not the primary obligor for payroll and payroll tax payments and therefore, record these amounts net in our statements of income. However, we record without offset, accrued wages and payroll tax liabilities for WSEs in WSE related liabilities with the related payroll funds collected and unbilled revenues in WSE related assets. We have classified these assets and liabilities and other service related amounts, collectively as WSE related, to present a clearer picture of the inter-relationship of the balances and distinguish these from our other corporate assets and liabilities.

In addition to unbilled revenues, accrued wages and payroll tax liabilities, other significant balances included in the WSE related assets and liabilities include:


•	Payroll funds collected represents cash collected from clients in advance to fund payroll and payroll taxes, and other payroll related liabilities;


•	Other payroll assets primarily include payroll tax receivables. As of December 31, 2015, there was a receivable of $181 million from one client related to an end of year payroll tax liability for which funding was received in January 2016.


•	Client deposits represent IGP payments received from clients and collections from clients in excess of payroll and other payroll related liabilities;


•	Other payroll withholdings primarily include withholdings under 401(k) plans and flexible benefit plans.



(In thousands)	December 31, 2016		December 31, 2015
Worksite employee related assets:
Restricted cash, cash equivalents and investments	$	132,115	$	96,736
Payroll funds collected	825,958		859,322
Unbilled revenues (net of advance collections of $8,602 and $11,875 at December 31, 2016 and 2015, respectively)	293,192		213,837
Accounts receivable (net of allowance for doubtful accounts of $292 and $1,158 at December 31, 2016 and 2015, respectively)	4,854		5,060
Prepaid insurance premiums	12,805		8,832
Workers' compensation collateral receivable	2,136		2,428
Other payroll assets	10,411		187,171
Total worksite employee related assets	$	1,281,471	$	1,373,386

Worksite employee related liabilities:
Accrued wages	$	272,966	$	202,396
Client deposits	56,182		57,758
Payroll tax liabilities	692,460		883,608
Unpaid losses and loss adjustment expenses (less than 1 year):
Health benefits loss reserves	129,430		112,658
Workers' compensation loss reserves (net of collateral paid of $9,234 and $11,761 at December 31, 2016 and 2015, respectively)	63,702		57,731
Insurance premiums and other payables	14,223		23,813
Other payroll withholdings	47,032		31,533
Total worksite employee related liabilities	$	1,275,995	$	1,369,497

Included in the payroll tax liabilities and insurance premiums and other payables were amounts relating to approximately 2,600 and 2,500 of our corporate employees at December 31, 2016 and 2015, respectively.