HomeMy WebLinkAbout20121183 ' 1 WELD COUNTY SUSIE VELASQUEZ
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1864 � WELD COUNTY PUBLIC TRUSTEE
Z0l2 PIAY -3 1701 23rd AVENUE, SUITE 250
3 A & 21 GREELEY,COLORADO 80634
t PHONE: (970)352-4365
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O U FAX: (970)352-5091
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April 26, 2012
Barbara Connolly, Controller
Weld County Accounting Department
PO Box 758
Greeley, CO 80631
Dear Barb:
Enclosed are the first quarter 2012 Profit & Loss statement and Summary of Accounts along with
the signed and notarized acknowledgement. The amount of excess funds for first quarter 2012 is
$82,162.21
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$82,162.21 will be
issued to the Weld County Treasurer as soon as the Commissioners' approval is received. 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 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 costs for 2011 were
$449,972.29. 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 first quarter is $384.69. At the end of
the year the total interest earned on the reserve fund will be forwarded to the Weld County
Treasurer.
Please let me know if ou have any questions.
S' cerely,
Su
Public Trustee
Enclosures
.1 _ka 2012-1183
- 3:42 PM Weld County Public Trustee
04/23/12
Accrual Basis Profit & Loss
January through March 2012
Jan-Mar 12
Ordinary Income/Expense
Income
1-1000-Foreclosure Revenues 224,836.77
1-2000• Release Revenues 65,625.00
1-5000• Miscellaneous Revenues/Fees 192.00
1-6000• Interest Revenues 543.86
Total Income 291,197.63
Cost of Goods Sold
2-1000 •Cost of Foreclosures 97,426.31
2-2000 •Cost of Releases 16,838.00
Total COGS 114,264.31
Gross Profit 176,933.32
Expense
5-0000 •Charges for service 9,096.05
3-1000 • Personnel Expenditures 72,878.64
4-0000 •Operating and Maintenance 12,796.40
Total Expense 94,771.09
Net Ordinary Income 82,162.23
Other Income/Expense
Other Expense
4-1899• Excess Funds to Weld County 49,088.72
Total Other Expense 49,088.72
Net Other Income -49,088.72
Net Income 33,073.51
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SUMMARY
WELD COUNTY PUBLIC TRUSTEE ACCOUNTS
FIRST QUARTER-JANUARY TO MARCH 2012
OPERATING ACCOUNT
January 1,2012 BEGINNING BALANCE $ 95,457.23
Excess cash over expenses $ 66,894.04
March 31,2012 ENDING BALANCE $ 162,351.27
ESCROW ACCOUNT
January 1,2012 BEGINNING BALANCE $ 292,159.65
Excess cash over expenses $ 547,933.59
March 31,2012 ENDING BALANCE $ 840,093.24
SPECIAL RESERVE FUND
January 1,2012 BEGINNING BALANCE $ 482,299.82
Excess cash over expenses $ (31,942.84)
March 31,2012 ENDING BALANCE $ 450,356.98
New reserve $449,972.29
Due to Weld County $384.69
WELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
First Quarter Report of Receipts & Expenditures
January 1 through March 31, 2012
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.
Respectfully-submitted,___
Selasquez, We ounty Public Trustee
STATE OF COLORADO )
COUNTY OF WELD )
This instrument was acknowledged before me this 26th day of April 2012 by Susie Velasquez as
the Public Trustee for the County of Weld, State of Colorado.
Witness my hand and seal y N9(.1a
y Public
<e NOTARY A
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