HomeMy WebLinkAbout20132234.tiffSUSIE 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
MEMORANDUM
To: Barbara Connolly, Controller From: Susie Velasquez, Public Trustee
Re: 2nd Quarter Reports Date: July 30, 2013
Excess Funds
Enclosed are the second quarter 2013 Profit & Loss statement and Summary of Accounts along
with the signed and notarized acknowledgement. The amount of excess funds for second quarter
2013 is $23,805.59. In addition, pursuant to the independent audit for year ended December 31,
2012, there was outstanding payable to the County of $98,529.00. Of that amount, $19,847.42
was paid in February 2013 for 4th quarter 2012 which leaves a balance of $78,681.59 payable to
the County.
According to statute, the Public Trustee must pay to the Weld County Treasurer any excess funds
upon approval by the commissioners. Therefore, checks in the amount of $23,805.59 and
$78,681.59 will be issued to the Weld County Treasurer upon the Commissioners' approval.
The excess funds checks 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 to the County General Fund as required by statute.
Reserve Fund
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. Pursuant to the independent audit for year ended
December 31, 2012, the total operating costs for 2012 is $417,494.00. A check in the amount of
$18,826.05 is enclosed to reduce the reserve fund to $417,494.00. This is the amount that the
Public Trustee must hold in a separate interest -bearing account. The interest earned on the
reserve fund for the second quarter is $1,735.78. At the end of the year the total interest earned
on the reserve fund will be forwarded to the Weld County Treasurer.
EPit, TS
sfl (13
2013-2234
Weld County Public Trustee
Profit & Loss
April to June 2013
Ordinary Income/Expense
Income
Total Income
Total Cost
Gross Profit
Expense
Profit and Loss
4000 Foreclosure Revenues
4012 Release Revenues
4022 Miscellaneous Revenues/Fees
4300 Interest Revenues
6300 Cost of Foreclosures
6302 Cost of Releases
6200 Charges for Service
5200 Personnel expenditures
6280 Operating and Maintenance
Total Expense
Net Ordinary Income Second Quarter
Other Income/Expense
Total Other Expense
Net Other Income
Net Income To Treasurer 1st Qtr 2013
6875 • Excess Funds to Treasurer
April - June 13
63,616.57
73,290.50
10,814.31
1,940.79
149,662.17
15,110.70
0.00
15,110.70
134,551.47
13,324.37
80,593.39
16,828.12
110,745.88
23,805.59
23,805.59
0.00
0.00
24,677.60
March 31, 2013
June 30, 2013
March 31, 2013
June 30, 2013
March 31, 2013
June 30, 2013
*Adjusted to reflect Audit
SUMMARY OF ACCOUNTS
WELD COUNTY PUBLIC TRUSTEE
SECOND QUARTER - APRIL TO JUNE 2013
OPERATING ACCOUNT
BEGINNING BALANCE
$ 110,009.86
Excess cash over expenses $ (9,898.52)
ENDING BALANCE $ 100,111.34
ESCROW ACCOUNT
BEGINNING BALANCE $ 891,761.71
Excess cash over expenses $ (206,720.14)
ENDING BALANCE $ 685,041.57
SPECIAL RESERVE FUND
BEGINNING BALANCE $ 436,771.36
Excess cash over expenses $ 1,735.78
ENDING BALANCE $ 438,507.14
*Reserve (2012 Operating Exp.) $417,494.00
2nd Quarter 2013 Interest earned on Reserve $ 1,735.78
WELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
Second Quarter Report of Receipts & Expenditures
April to June 2013
I, Susie Velasquez, upon oath duly sworn, state that the information contained herein is
true and correct to the best of my knowledge and belief.
Res ectfully siiliriritted1, `\
!elasquez—PUElic Trustee
STATE OF COLORADO )
COUNTY OF WELD )
This instrument was acknowledged before me this 30a' day of July 2013 by Susie Velasquez as
the Public Trustee for the County of Weld, State of Colorado.
Witness my hand and seal
My Commission Expires 04120/2010
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