HomeMy WebLinkAbout20110284.tiff ta-Lire
Kit SUSIE VELASQUEZ
WELD COUNTY PUBLIC
CC TRUSTEE
I 809 9' STREET, SUITE 1
WI D GREELEY, COLORADO 80631
PHONE: (970) 352-4365
F 70)e WEBSITE:
www.wcpto.com
352-5091 m
COLORADO
January 19, 2011
Barbara Connolly, Controller
Weld County Accounting Department
915 10th Street
Greeley, CO 80631
Dear Barb:
Enclosed are the fourth quarter 2010 Profit& Loss statement and Summary of Accounts along
with the signed and notarized acknowledgement. The amount of excess funds for fourth quarter
2010 is $130,110.99. In addition, 2010 interest earned on the reserve fund is $1,900.25. 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
According to statute, the Public Trustee must pay to the Weld County Treasurer any excess funds
upon approval by the commissioners. Therefore, checks in the amount of$130,110.89 and
$1,900.25 will be issued to the Weld County Treasurer upon the Commissioners' approval. The
checks 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 4'° 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 costs for 2009 were
$553,996.92. This is the amount that the Public Trustee must hold in a separate interest-bearing
account. Excess funds submitted to the Weld County Treasurer for the year 2010 total
$478,524.50.
Please let me know if you have any questions.
Sincerely,
Susie Velasquez
Public Trustee
Enclosures Ropudto 1-aq-aoI( 2011-0284
12:50 PM Weld County Public Trustee
01/14/11
Accrual Basis Profit & Loss
October through December 2010
Oct-Dec 10
Ordinary Income/Expense
Income
1-1000• Foreclosure Revenues 332,371.25
1-2000-Release Revenues 68,878.00
1-5000-Miscellaneous Revenues/Fees 116.83
1-6000•Interest Revenues 672.44
Total Income 402,038.52
Cost of Goods Sold
2-1000•Cost of Foreclosures 115,816.97
2-2000•Cost of Releases 50,448.00
Total COGS 166,264.97
Gross Profit 235,773.55
Expense
5-0000•Charges for service 7,260.01
5-1200• Equipment Purchase 1,222.44
3-1000•Personnel Expenditures 78.721.49
4-0000•Operating and Maintenance 18,458.62
Total Expense 105,662.56
Net Ordinary Income 130,110.99
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 130,110.99
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SUMMARY
WELD COUNTY PUBLIC TRUSTEE ACCOUNTS
FOURTH QUARTER-OCTOBER TO DECEMBER 2010
OPERATING ACCOUNT
October 1,2010 BEGINNING BALANCE $ 152,863.48
Excess cash over expenses $ 64,080.98
December 31,2010 ENDING BALANCE $ 216,944.46
ESCROW ACCOUNT
October 1,2010 BEGINNING BALANCE $ 407,582.35
Excess cash over expenses $ 280,137.52
December 31,2010 ENDING BALANCE $ 687,719.87
SPECIAL RESERVE FUND
October 1,2010 BEGINNING BALANCE $ 553,996.92
Excess cash over expenses $ 1,900.25
December 31,2010 ENDING BALANCE $ 555,897.17
New reserve $553,996.92
Due to Weld County $1,900.25
WELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
Fourth Quarter Report of Receipts & Expenditures
October 1, 2010 through December 31, 2010
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,
u alaStuez, Weld CountyPuilic Trustee
STATE OF COLORADO )
COUNTY OF WELD )
G
This instrument was acknowledged before me this P I day of January 2011 by Susie
Velasquez as the Public Trustee for the County of Weld, State of Colorado.
Witness my hand and seal I
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