HomeMy WebLinkAbout20130392.tiffJanuary 29, 2013
SUSIE VELASQUEZ
WELD COUNTY PUBLIC TRUSTEE
1701 23rd AVENUE, SUITE 250
GREELEY, COLORADO 80634
PHONE: (970) 352-4365
FAX: (970) 352-5091
WEBSITE: www.wcpto.com
Barbara Connolly, Controller
Weld County Accounting Department
915 10th Street
Greeley, CO 80631
Dear Barb:
Enclosed are the fourth quarter 2012 Profit & Loss statement and Summary of accounts along
with the signed and notarized acknowledgement. The amount of excess funds for fourth quarter
2012 is $19,847.42. According to statute, the Public Trustee must pay to the Weld County
Treasurer any excess funds upon approval by the commissioners. Therefore, a check in the
amount of $19,847.42 will be issued to the Weld County Treasurer upon the Commissioners'
approval.
The excess funds check will be issued to the County Treasurer for deposit into the Public Trustee
Salary Fund. At the expiration of the year, the County Treasurer shall then transfer the balance
of the Public Trustee Salary Fund (except any funds in that account that may be needed for the
4th quarter Public Trustee expenses) to the County General Fund as required by statute.
As mandated by statute, the Public Trustee will keep a separate reserve fund in an amount equal
to total operating costs of the previous year. The total operating cost for 2012 was $432,084.11.
This is the amount that must be held in a separate interest -bearing account. Because the actual
expenses for 2012 were less than 2011, the reserve fund is reduced by $17,888.18 to bring the
balance in the reserve fund to $432,084.11. A check payable to the Weld County Treasurer in
the amount of $17,888.18 will be issued and included with the excess funds check to the
Treasurer. In addition, 2012 interest earned on the reserve fund is $1,463.24 and that amount is
included. At the end of the year, the total interest earned on the reserve fund is forwarded to the
Weld County Treasurer annually with the fourth quarter reports. Please let me know if you have
any questions.
................
Sincerely,
uste Velasquez
Pulie-Trustee_
2013-0392
Weld County Public Trustee
Profit & Loss
October to December 2012
Profit and Loss Oct - Dec 12
Ordinary Income/Expense
Income
4000 Forclosure Revenues
4012 Release Revenues
4022 Miscellaneous Revenues/Fees
4300 Interest Revenues
Total Income
6300 Cost of Forclosures
6302 Cost of Releases
Total Cost
85,188.00
59,190.00
7,986.13
470.70
152,834.83
14,115.00
0.00
14,115.00
Gross Profit 138,719.83
Expense
6200 Charges for Service
5200 Personnel expenditures
6280 Operating and Maintenance
Total Expense
Net Ordinary Income Fourth Quarter
Other Income/Expense
6875 • Excess Funds to Treasurer
Total Other Expense
Net Other Income
14,425.93
92,268.92
12,177.56
118,872.41
19,847.42
19,847.42
0.00
0.00
Net Income To Treasurer Fourth Quarter 19,847.42
SUMMARY
WELD COUNTY PUBLIC TRUSTEE ACCOUNTS
FOURTH QUARTER - OCTOBER TO DECEMBER 2012
OPERATING ACCOUNT
September 30, 2012 BEGINNING BALANCE $ 117,010.34
Excess cash over expenses $ 2,357.50
December 31, 2012 ENDING BALANCE $ 119,367.84
ESCROW ACCOUNT
September 30, 2012 BEGINNING BALANCE $ 551,814.80
Excess cash over expenses $ (571,339.72)
December 31, 2012
September 30, 2012
December 31, 2012
ENDING BALANCE $ (19,524.92)
SPECIAL RESERVE FUND
BEGINNING BALANCE $ 451,114.85
Excess cash over expenses $ 3,293.35
ENDING BALANCE $ 454,208.23
Reserve (2011 Operating Exp.) $449,972.29
2012 Interest earned on Reserve $ 1,463.24
WELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
Fourth Quarter Report of Receipts & Expenditures
October to December 2012
I, Susie Velasquez upon oath duly sworn, state that the information contained herein is
true and correct to the best o owledge and belief.
County Public Trustee
STATE OF COLORADO )
COUNTY OF WELD )
This instrument was acknowledged before me this 30th day of January 2013 by Susie Velasquez
as the Public Trustee for the County of Weld, State of Colorado.
Witness my hand and seal
My Commission Expires 04/16/2016
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