HomeMy WebLinkAbout20123228.tiff SUSIE VELASQUEZ
1861 . WELD COUNTY PUBLIC TRUSTEE
1 r r 1701 23rd AVENUE,SUITE 250
GREELEY,COLORADO 80634
�1 ,! PHONE: (970) 352-4365
COUNTY FAX: (970) 352-5091
WEBSITE: www.wcptacom
October 30, 2012
Barbara Connolly, Controller
Weld County Accounting Department
PO Box 758
Greeley, CO 80631
Dear Barb:
Enclosed are the third quarter 2012 Profit &Loss statement and Summary of Accounts along
with the signed and notarized acknowledgement. The amount of excess funds for third quarter
2012 is $25,378.04.
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$25,378.04 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 $377.10. 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.
Sincerel
Susie asquez
Public Trustee
Enclosures
2012-3228
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Weld County Public Trustee
Profit & Loss
July to September 2012
Jul-Sept
Ordinary Income/Expense
Income
1.1000• Foreclosure Revenues 189,738.78
1.2000• Release Revenues 87,815.20
1.5000• Miscellaneous Revenues/Fees 6.50
1-6000• Interest Revenues 517.64
Total Income 278,078.12
Cost of Goods Sold
2-1000• Cost of Foreclosures 97,427.40
2-2000• Cost of Releases 33,554.00
Total COGS 130,981.40
Gross Profit 147,096.72
Expense
Business Meals 8.75
5-0000• Charges for service 22,626.93
3-1000• Personnel Expenditures 71,102.01
4-0000• Operating and Maintenance 27,981.02
6999• Uncategorized Expenses -0.03
Total Expense 121,718.68
Net Ordinary Income 25,378.04
Other Income/Expense
Other Expense
4-1899• Excess Funds to Weld County 82,162.21
Total Other Expense 42,969.68
Net Other Income -42,969.68
Net Income -17,591.64
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SUMMARY
WELD COUNTY PUBLIC TRUSTEE ACCOUNTS
THIRD QUARTER-JULY TO SEPTEMBER 2012
OPERATING ACCOUNT
July 1,2012 BEGINNING BALANCE $ 136,005.88
Excess cash over expenses $ (18,995.54)
September 30,2012 ENDING BALANCE $ 117,010.34
ESCROW ACCOUNT
July 1,2012 BEGINNING BALANCE $ 472,576.38
Excess cash over expenses $ 79,238.42
September 30,2012 ENDING BALANCE $ 551,814.80
SPECIAL RESERVE FUND
July 1,2012 BEGINNING BALANCE $ 450,737.75
Excess cash over expenses $ 377.10
September 30,2012 ENDING BALANCE $ 451,114.85
New reserve $449,972.29
Due to Weld County $1,142.56
WELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
Third Quarter Report of Receipts & Expenditures
July to September 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,
uste quez, Weld C ty Public Trustee
STATE OF COLORADO )
COUNTY OF WELD )
This instrument was acknowledged before me this 30th day of October 2012 by Susie Velasquez
as the Public Trustee for the County of Weld, State of Colorado. p4I20/2016
My Commission Expires
Witness my hand and seal J
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