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WELD COUNTY SUSIE VELASQUEZ
G 'tOINI1!ilSlQPctiRS WELD COUNTY PUBLIC TRUSTEE
I 1011 FEB -b P 2: 28 809 9th STREET, SUITE 1
GREELEY, COLORADO 80631
PHONE: (970) 352-4365
Q RECEIVED FAX: (970) 352-5091
W EBSITE:www.wcpto.com
COLORADO
January 31, 2012
Barbara Connolly, Controller
Weld County Accounting Department
915 10th Street
Greeley, CO 80631
Dear Barb:
Enclosed are the fourth quarter 2011 Profit & Loss statement and Summary of accounts along
with the signed and notarized acknowledgement. The amount of excess funds for fourth quarter
2011 is $16,753.87. 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$16,753.87 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 2011 was $449,972.29.
This is the amount that must be held in a separate interest-bearing account. Because the actual
expenses for 2011 were less than 2010, the reserve fund is reduced by $32,327.53 to bring the
balance in the reserve fund to $449,972.29. A check payable to the Weld County Treasurer in
the amount of$32,327.53 will be issued and included with the excess funds check to the
Treasurer. In addition, 2011 interest earned on the reserve fund is $1,190.42 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.
mcerely,
Public Trustee
Enclosures Re-Pn'r
13-I a 2012-0422
WELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
Fourth Quarter Report of Receipts & Expenditures
October 1 through December 31, 2011
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 submitted,
e Velas uez, Weld Count stee
STATE OF COLORADO )
COUNTY OF WELD )
This instrument was acknowledged before me this 31st day of January 2012 by Susie Velasquez
as the Public Trustee for the County of Weld, State of Colorado.
Witness my hand and seal t'Th
GOQ�`�� Notary 1Pu 1c
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My Commission Expires 01/29/2016
• 3:33 PM Weld County Public Trustee
01/25/12
Accrual Basis Profit & Loss
October through December 2011
Oct-Dec 11
Ordinary Income/Expense
Income
1-1000 • Foreclosure Revenues 213,877.67
1-2000 •Release Revenues 50,648.52
1-5000 •Miscellaneous Revenues/Fees 24.34
1-6000-Interest Revenues 524.40
Total Income 265,074.93
Cost of Goods Sold
2-1000•Cost of Foreclosures 127,180.00
2-2000• Cost of Releases 11,893.00
Total COGS 139,073.00
Gross Profit 126,001.93
Expense
5-0000•Charges for service 21,765.96
3-1000• Personnel Expenditures 63,980.64
4-0000 •Operating and Maintenance 23,501.46
Total Expense 109,248.06
Net Ordinary Income 16,753.87
Other Income/Expense
Other Expense
4-1899• Excess Funds to Weld County 0.00
Total Other Expense 0.00
Net Other Income 0.00
Net Income 16,753.87
Page 1 of 1
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SUMMARY
WELD COUNTY PUBLIC TRUSTEE ACCOUNTS
FOURTH QUARTER-OCTOBER TO DECEMBER 2011
OPERATING ACCOUNT
October 1,2011 BEGINNING BALANCE $ 132,658.53
Excess cash over expenses $ (37,201.30)
December 31,2011 ENDING BALANCE $ 95,457.23
ESCROW ACCOUNT
October 1,2011 BEGINNING BALANCE $ 277,414.68
Excess cash over expenses $ 14,744.97
December 31,2011 ENDING BALANCE $ 292,159.65
SPECIAL RESERVE FUND
October 1,2011 BEGINNING BALANCE $ 481,944.95
Excess cash over expenses $ 354.87
December 31,2011 ENDING BALANCE $ 482,299.82
New reserve $449,972.29
Due to Weld County $32,327.53
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