HomeMy WebLinkAbout20102656.tiff i6;;H:
SUSIE VC TRUSTEE
WELD COUNTY PUBLIC TRUSTEE
809 9th STREET, SUITE 1
IGREELEt COLORADO 80631
PHONE: (970) 352-4365
O FAX: (970) 352-5091
WEBSITE: www.wcpto.com
COLORADO
October 19, 2010
Barbara Connolly, Controller
Weld County Accounting Department
915 10m Street
Greeley, CO 80631
Dear Barb:
Enclosed are the third quarter 2010 Profit & Loss statement and Summary of Accounts along with
the signed and notarized acknowledgement. The amount of excess funds for third quarter 2010 is
$63,667.75.
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$63,667.75 will be
issued to the Weld County Treasurer upon the Commissioners' approval. 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 2009 were
$553,996.92. This is the amount that the Public Trustee must hold in a separate interest-bearing
account. The interest earned on the reserve fund is $1,420.87. 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 any questions.
cerely,
Susie Velasquez
Public Trustee
Enclosures
ccec soli; auSt_t
2:24 PM Weld County Public Trustee
10/15/10
Accrual Basis Profit & Loss
July through September 2010
Jul-Sep 10
Ordinary Income/Expense
Income
1-1000•Foreclosure Revenues 304,109.32
1-2000•Release Revenues 59,975.09
1-5000• Miscellaneous Revenues/Fees 235.70
1-6000• Interest Revenues 842.68
Total Income 365,162.79
Cost of Goods Sold
2-1000•Cost of Foreclosures 120,521.23
2-2000•Cost of Releases 57,391.24
Total COGS 177,912.47
Gross Profit 187,250.32
Expense
5-0000•Charges for service 11,880.68
5-1200• Equipment Purchase 703.95
3-1000• Personnel Expenditures 88,117.98
4-0000.Operating and Maintenance 22,879.96
Total Expense 123,582.57
Net Ordinary Income 63,667.75
Other Income/Expense
Other Expense
4-1899• Excess Funds to Weld County 71,935.22
Total Other Expense 71,935.22
Net Other Income -71,935.22
Net Income -8,267.47
Page 1 of 1
SUMMARY
WELD COUNTY PUBLIC TRUSTEE ACCOUNTS
THIRD QUARTER-JULY TO SEPTEMBER 2010
OPERATING ACCOUNT
July 1,2010 BEGINNING BALANCE $ 160,605.81
Excess cash over expenses $ (7,742.33)
September 30,2010 ENDING BALANCE $ 152,863.48
ESCROW ACCOUNT
July 1,2010 BEGINNING BALANCE $ 290,205.65
Excess cash over expenses $ 117,376.70
September 30,2010 ENDING BALANCE $ 407,582.35
SPECIAL RESERVE FUND
July 1,2010 BEGINNING BALANCE $ 554,670.73
Excess cash over expenses $ 747.06
September 30,2010 ENDING BALANCE $ 555,417.79
New reserve $553,996.92
Due to Weld County $1,420.87
WELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
Second Quarter Report of Receipts & Expenditures
July 1, 2010 through September 30, 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.
Respectfull itted, __`
. - . Co t .c Trustee
STATE OF COLORADO )
COUNTY OF WELD )
G
This instrument was acknowledged before me this I / day of October 2010 by Susie
Velasquez as the Public Trustee for the County of Weld, State of Colorado.
Witness my hand and seal
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