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SUSIE VELASQUEZ
WELD COUNTY PUBLIC TRUSTEE 809 9'"STREET, SUITE 1
GREELEY, COLORADO 80631
PHONE: (970) 352-4365
Q FAX: (970) 352-5091
WEBSITE: www.wcpto.com
COLORADO
October 10, 2008
Donald D. Warden, Director
Finance&Administration
915 10`x' Street
Greeley, CO 80631
Dear Don:
The enclosed quarterly reports for July through September 2008 are submitted as mandated by
CRS 38-37-104(3). The amount of excess funds for this quarter is $300.45. Check #12242
payable to the Weld County Treasurer is submitted for deposit to the Public Trustee Salary Fund.
At the expiration of the year, the County Treasurer shall then transfer the balance in the Public
Trustee Salary Fund to the county general fund as required by statute.
For your information, release and foreclosure revenue for the third quarter is substantially less
than the second quarter. Foreclosure revenue for second quarter was $213,998.94 and third
quarter was only $126, 733.20. There was also a decrease in release revenue. Second quarter
release revenue was $59,147.75 and third quarter was $40,122.50. In addition, there was a
$29,880.40 loss on investment with Colorado Diversified Trust. According to Colorado
Diversified Trust, after taking into account the year to date dividends, the net loss amounted to
$12,063.96.
Please do not hesitate e if you have any questions.
Sinc —
Susie Velasquez
Public Trustee
Enclosures
LeCY{S
lC I (�I C6 2008-2795
WELD COUNTY PUBLIC TRUSTEE
WELD COUNTY, COLORADO
QUARTERLY SUMMARY OF OPERATIONS
JULY 1, 2008 through SEPTEMBER 30, 2008
WELD COUNTY PUBLIC TRUSTEE
Report of Receipts and Expenditures
Third Quarter 2008
Section I Summary of Weld County Public Trustee Accounts
Section II Quarterly Report of Revenues and Expenses
Section III Profit & Loss
This Report represents a true and accurate accounting of the transactions of the Weld
County Public Trustee office for the Third Quarter 2008.
Respectfully Submitted,
S lasquez, Weld County Public Trustee
STATE OF COLORADO )
COUNTY OF WELD )
This instrument was acknowledged before me this 10th day of October 2008 by Susie
Velasquez as the Public Trustee for the County of Weld, ate of Colorado.
Witness my hand and seal:
••• ••. �Ji �� Notary
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My Commission Expires 01/29/2012
SUMMARY
WELD COUNTY PUBLIC TRUSTEE ACCOUNTS
THIRD QUARTER-JULY TO SEPTEMBER 2008
OPERATING ACCOUNT
July 1,2008 BEGINNING BALANCE $ 233,199.45
Excess cash over expenses $ (56,179.75)
September 30,2008 ENDING BALANCE $ 177,019.70
ESCROW ACCOUNT
July 1,2008 BEGINNING BALANCE $ 1,018,189.43
Excess cash over expenses $ (673,192.79)
September 30,2008 ENDING BALANCE $ 344,996.64
SPECIAL RESERVE FUND
July 1,2008 BEGINNING BALANCE $ 620,752.57
Excess cash over expenses $ -
September 30,2008 ENDING BALANCE $ 620,752.57
WELD COUNTY PUBLIC TRUSTEE
QUARTERLY REPORT OF REVENUES AND EXPENSES
THIRD QUARTER-JULY TO SEPTEMBER 2008
OPERATING ACCOUNT
REVENUES
Foreclosure Revenues $126,733.20
Release Revenues $40,122.50
Miscellaneous Revenues/Fees $3.25
Interest Revenues $11,602.51
TOTAL REVENUES $178,461.46
EXPENSES
Personnel Services $98,299.11
Operating and Maintenance $18,581.48
Charges for services $30,841.21
Capital outlay $558.81
Loss on investments $29,880.40
TOTAL OPERATIONAL EXPENSES $178,161.01
EXCESS REVENUES OVER EXPENSES $300.45
SPECIAL RESERVE FUND
MAX ALLOWABLE=LAST YEARS
OPERATING EXPENSES $620,752.57
RESERVE ACCOUNTS BALANCE $620,752.57
ADDITIONS TO RESERVE $0.00 $0.00
EXCESS DUE TO COUNTY $300.45
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2:28 PM Weld County Public Trustee
10/09/08 Profit & Loss
Accrual Basis July through September 2008
Jul-Sep 08
Ordinary Income/Expense
Income
1-1000•Foreclosure Revenues 287,170.91
1-2000•Release Revenues 52,057.00
1-5000•Miscellaneous Revenues/Fees 3.25
1-6000•Interest Revenues 11,602.51
Total Income 350,833.67
Cost of Goods Sold
2-1000•Cost of Foreclosures 160,437.71
2-2000•Cost of Releases 11,934.50
Total COGS 172,372.21
Gross Profit 178,461.46
Expense
66900•Reconciliation Discrepancies 0.00
5-0000•Charges for service 30,841.21
5-1200•Equipment Purchase 558.81
3-1000•Personnel Expenditures 98,299.11
4-0000•Operating and Maintenance 18,581.48
Total Expense 148,280.61
Net Ordinary Income 30,180.85
Other Income/Expense
Other Expense
4-1901 •Loss on Investments 29,880.40
Total Other Expense 29,880.40
Net Other Income -29,880.40
Net Income 300.45
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