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SUSIE PUBLIC
TRUSTEE
WELD COUNTY PUBLIC TRUSTEE
809 9th STREET, SUITE 1
IGREELEY, COLORADO 80631
CPHONE: (970) 352-4365
FA
X: (970) 352-5091
WEBSITE:www.wcpto.com
COLORADO
May 5, 2010
Barbara Connolly, Controller
Weld County Accounting Department
915 10`h Street
Greeley, CO 80631
Dear Barb:
Enclosed are the first quarter 2010 Profit & Loss statement and Summary of Accounts along with
the signed and notarized acknowledgement. The amount of excess funds for first quarter 2010 is
$155,912.20.
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$155,912.20 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 2009 were
$553,996.92. This is the amount that must be held in a separate interest-bearing account.
Because the actual expenses for 2009 were less than 2008, the reserve fund is reduced by
$56,231.31 to bring the balance in the reserve fund to $553,996.92. Therefore, a check payable
to the Weld County Treasurer in the amount of$56,231.31 will be issued and included with the
excess funds check to the Treasurer.
Please let me know if you have any questions.
-
Susie e asquez
Public Trustee 2010-0985
4enhi s / &/o
12:45 PM Weld County Public Trustee
05/04/10
Accrual Basis Profit & Loss
January through March 2010
Jan-Mar 10
Ordinary Income/Expense
Income
1-1000 Foreclosure Revenues 377,375.37
1-2000• Release Revenues 45,733.00
1-5000•Miscellaneous Revenues/Fees 12.25
1-6000•Interest Revenues 1,342.39
Total Income 424,463.01
Cost of Goods Sold
2-1000•Cost of Foreclosures 105,977.37
2-2000•Cost of Releases 10,161.00
Total COGS 116,138.37
Gross Profit 308,324.64
Expense
5-0000 Charges for service 29,626.09
5-1200• Equipment Purchase 0.00
3-1000• Personnel Expenditures 100,686.30
4-0000•Operating and Maintenance 22,100.05
Total Expense 152,412.44
Net Ordinary Income 155,912.20
Other Income/Expense
Other Expense
4-1899• Excess Funds to Weld County 26,020.97
Total Other Expense 26,020.97
Net Other Income -26,020.97
Net Income 129,891.23
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SUMMARY
WELD COUNTY PUBLIC TRUSTEE ACCOUNTS
FIRST QUARTER-JANUARY TO MARCH 2010
OPERATING ACCOUNT
January 1,2010 BEGINNING BALANCE $ 91,105.63
Excess cash over expenses $ 156,063.00
March 31,2010 ENDING BALANCE $ 247,168.63
ESCROW ACCOUNT
January 1,2010 BEGINNING BALANCE $ 83,452.31
Excess cash over expenses $ 93,625.52
March 31,2010 ENDING BALANCE $ 177,077.83
SPECIAL RESERVE FUND
January 1, 2010 BEGINNING BALANCE $ 634,951.91
Excess cash over expenses $ (24,723.68)
March 31,2010 ENDING BALANCE $ 610,228.23
New reserve $553,996.92
Due to Weld County $56,231.31
WELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
First Quarter Report of Receipts & Expenditures
January 1, 2010 through March 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.
Respectfullysubniitt€d-----____
usie e uez, Weld County P rustee
STATE OF COLORADO )
COUNTY OF WELD )
This instrument was acknowledged before me this ,) day of May 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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