HomeMy WebLinkAbout20111901.tiff SUSIE VELASQUEZ
WELD COUNTY PUBLIC TRUSTEE
I809 9th STREET, SUITE 1
WI D GREELEY, COLORADO 80631
PHONE: (970) 352-4365
FAX:Ci WEBSITE: 352-5091
www.wcpto.com
COLORADO
July 20, 2011
Barbara Connolly, Controller
Weld County Accounting Department
915 10th Street
Greeley, CO 80631
Dear Barb:
Enclosed are the second quarter 2011 Profit& Loss statement and Summary of Accounts along
with the signed and notarized acknowledgement. The amount of excess funds for second quarter
2011 is $39,007.87.
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$39,007.87 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 2010 were
$481,109.40. 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 $427.25. 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.
mcerely,
Susie squez -
Public Trustee
Enclosures
2-er cr f S 2011-1901
� 7 / /
10:58 AM Weld County Public Trustee
07117/11
Accrual Basis Profit & Loss
April through June 2011
Apr-Jun 11
Ordinary Income/Expense
Income
1-1000• Foreclosure Revenues 233,115.92
1-2000-Release Revenues 47,149.50
1-5000•Miscellaneous Revenues/Fees 935.03
1-6000• Interest Revenues 604.35
Total Income 281,804.80
Cost of Foreclosures&releases
2-1000•Cost of Foreclosures 95,566.33
2-2000•Cost of Releases 40,163.00
Total COGS 135,729.33
Gross Profit 146,075.47
Expense
5-0000•Charges for service 9,372.25
3-1000•Personnel Expenditures 78,024.36
4-0000•Operating and Maintenance 19,670.99
Total Expense 107,067.60
Net Ordinary Income 39,007.87
Net Income 39,007.87
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SUMMARY
WELD COUNTY PUBLIC TRUSTEE ACCOUNTS
SECOND QUARTER-APRIL TO JUNE 2011
OPERATING ACCOUNT
April 1,2011 BEGINNING BALANCE $ 112,259.17
Excess cash over expenses $ 12,984.13
June 30,2011 ENDING BALANCE $ 125,243.30
ESCROW ACCOUNT
April 1,2011 BEGINNING BALANCE $ 111,964.28
Excess cash over expenses $ 420,251.39
June 30,2011 ENDING BALANCE $ 532,215.67
SPECIAL RESERVE FUND
April 1,2011 BEGINNING BALANCE $ 554,462.43
Excess cash over expenses $ (72,925.78)
June 30,2011 ENDING BALANCE $ 481,536.65
New reserve $481,109.40
Due to Weld County $427.25
WELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
Second Quarter Report of Receipts & Expenditures
April 1, 2011 through June 30, 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
pectfully submitted,
elasquez, eld County Public Trustee
STATE OF COLORADO )
COUNTY OF WELD )
This instrument was acknowledged before me this 20th day of July, 2011 by Susie Velasquez as
the Public Trustee for the County of Weld, State of Colorado.
Witness my hand and seal
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