HomeMy WebLinkAbout20122064.tiff SUSIE VELASQUEZ
f 'P%r. ` WELD COUNTY PUBLIC TRUSTEE
1701 23`d AVENUE,SUITE 250
GREELEY,COLORADO 80634
PHONE (970)352-4365
FAX: (970)352-5091
414. t WEBSITE:www.wcpto.com
July 30, 2012
Barbara Connolly, Controller
Weld County Accounting Department
PO Box 758
Greeley, CO 80631
Dear Barb:
Enclosed are the second quarter 2012 Profit &Loss statement and Summary of Accounts along
with the signed and notarized acknowledgement. The amount of excess funds for second quarter
2012 is $42,969.68.
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$42,969.68 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 second quarter is $380.77. 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 you have any questions.
Sin ely,
Susie Velasquez
Public Trustee
Enclosures
2012-2064
g -2o/a_
WELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
Second Quarter Report of Receipts & Expenditures
April 1 through June 30, 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.
Re ect61 y submitted,
Susie elasquez,Wel my Public Trustee
STATE OF COLORADO )
COUNTY OF WELD )
This instrument was acknowledged before me this 30th day of July 2012 by Susie Velasquez as
the Public Trustee for the County of Weld, State of Colorado.
Witness my hand and seal 4` 1
`*CRA/y "‘ Notary Public
,
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My Commission Expires 02-08-16
2:55 PM Weld County Public Trustee
07/23/12
Accrual Basis Profit & Loss
April througtlpJup n?112
Ordinary Income/Expense
Income
1-1000-Foreclosure Revenues 231,069.95
1-2000-Release Revenues 63,653.00
1-5000•Miscellaneous Revenues/Fees 3.00
1.6000•Interest Revenues 504.22
Total Income 295,230.17
Cost of Goods Sold
2-1000•Cost of Foreclosures 128,442.58
2-2000• Cost of Releases 27,096.00
Total COGS 155,538.58
Gross Profit 139,691.59
Expense
Business Meals 62.49
5-0000•Charges for service 9,481.97
3-1000• Personnel Expenditures 69,446.64
4-0000•Operating and Maintenance 17,730.81
6999•Uncategorized Expenses 0.00
Total Expense 96,721.91
Net Ordinary Income 42,969.68
Other Income/Expense
Other Expense
4-1899• Excess Funds to Weld County 82,162.21
Total Other Expense 82,162.21
Net Other Income -82,162.21
Net Income -39,192.53
Page 1 of 1
SUMMARY
WELD COUNTY PUBLIC TRUSTEE ACCOUNTS
SECOND QUARTER-APRIL TO JUNE 2012
OPERATING ACCOUNT
April 1,2012 BEGINNING BALANCE $ 162,351.27
Excess cash over expenses $ (26,345.39)
June 30,2012 ENDING BALANCE $ 136,005.88
ESCROW ACCOUNT
April 1,2012 BEGINNING BALANCE $ 840,093.24
Excess cash over expenses $ (367,516.86)
June 30,2012 ENDING BALANCE $ 472,576.38
SPECIAL RESERVE FUND
April 1,2012 BEGINNING BALANCE $ 450,356.98
Excess cash over expenses $ 380.77
June 30,2012 ENDING BALANCE $ 450,737.75
New reserve $449,972.29
Due to Weld County $765.46
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