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SUSIE VC TRUSTEE
WELD COUNTY PUBLIC TRUSTEE
809 9,"STREET, SUITE 1
GREELEY, COLORADO 80631
PHONE: (970) 352-4365
FAX: (970)Ci WEBSITE: 9
TEE: www.wcpto.com
COLORADO
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July 28, 2010
CO Barbara Connolly, Controller
Weld County Accounting Department
915 10`" Street cn
Greeley, CO 80631 0
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Dear Barb:
Enclosed are the second quarter 2010 Profit & Loss statement and Summary of Accounts along
with the signed and notarized acknowledgement. The amount of excess funds for second quarter
2010 is $70,702.00.
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$70,702.00 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 the Public Trustee must hold in a separate interest-bearing
account. The interest earned on the reserve fund for the second quarter is $673.81. 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.
incere
Susie Velasquez
Public Trustee
Enclosures
2010-1747
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2:39 PM Weld County Public Trustee
07/22/10
Accrual Basis Profit & Loss
April through June 2010
Apr-Jun 10
Ordinary Income/Expense
Income
1-1000•Foreclosure Revenues 332,123.17
1-2000•Release Revenues 42,882.68
1-5000•Miscellaneous Revenues/Fees 106.75
1-6000•Interest Revenues 924.01
Total Income 376,036.61
Cost of Goods Sold
2-1000•Cost of Foreclosures 160,087.65
2-2000-Cost of Releases 26,391.00
Total COGS 186,478.65
Gross Profit 189,557.96
Expense
5-0000•Charges for service 8,826.05
5-1200•Equipment Purchase 1,608.09
3-1000•Personnel Expenditures 86,170.72
4-0000•Operating and Maintenance 22,251.10
Total Expense 118,855.96
Net Ordinary Income 70,702.00
Other Income/Expense
Other Expense
4-1899•Excess Funds to Weld County 212,143.51
Total Other Expense 212,143.51
Net Other Income -212,143.51
Net Income -141,441.51
Page 1 of 1
SUMMARY
WELD COUNTY PUBLIC TRUSTEE ACCOUNTS
SECOND QUARTER-APRIL TO JUNE 2010
OPERATING ACCOUNT
April 1,2010 BEGINNING BALANCE $ 247,168.63
Excess cash over expenses $ (86,562.82)
June 30,2010 ENDING BALANCE $ 160,605.81
ESCROW ACCOUNT
April 1,2010 BEGINNING BALANCE $ 177,077.83
Excess cash over expenses $ 113,127.82
June 30,2010 ENDING BALANCE $ 290,205.65
SPECIAL RESERVE FUND
April 1,2010 BEGINNING BALANCE $ 610,228.23
Excess cash over expenses $ (55,557.50)
June 30,2010 ENDING BALANCE $ 554,670.73
New reserve $553,996.92
Due to Weld County $673.81
WELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
Second Quarter Report of Receipts & Expenditures
April 1, 2010 through June 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.
kespectfully submitted,
Susie e asquez, Wel County Public Trustee
STATE OF COLORADO )
COUNTY OF WELD )
This instrument was acknowledged before me this 28th day of July 2010 by Susie Velasquez as
the Public Trustee for the County of Weld, State of Colorado.
Witness m hand and seal /f
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