HomeMy WebLinkAbout20081048.tiff SUSIE VC TRUSTEE
WELD COUNTY PUBLIC TRUSTEE
WIlige
809 9th STREET, SUITE 1
GREELEY, COLORADO 80631
PHONE: (970) 352-4365
FAX: (970) 352-5091
WEBSITE:www.wcpto.com
COLORADO
March 31, 2008
Donald D. Warden
Director of Finance & Administration
915 10`11 Street
Greeley, CO 80631
Dear Don:
The enclosed check in the amount of$203,055.09 payable to the County Treasurer is for deposit
into the Public Trustee Salary Fund as required by statute. Adding the $203,055.09 to the
October to December 2007 quarterly amount of$19,305.48 brings the total to $222,360.57
excess funds for 2007. The County Treasurer is to transmit the total of$222,360.57 plus any
accrued interest for deposit to the Weld County General Fund.
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 2007 were
$616,182.00. This is the amount that must be held in a separate interest-bearing account.
Please contact me with any questions you may have.
Susie elasquez
Public Trustee
Enclosure
2008-1048
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6:54 PM Weld County Public Trustee
03126/08 Balance Sheet
Accrual Basis As of December 31, 2007
Dec 31,07
ASSETS
Current Assets
CheckinglSavings
0-1100•Special reserve fund 419,506.05
0-1012-Escrow Account 192,413.77 —
0-1011 -UNION COLONY-CHECKING 449,731.04
0-1080-Cash on Hand 100.00
Total CheckinglSavings 1,061,750.86
Other Current Assets
0-1498•SHORT CHECKS RECEIVED 324.00
Total Other Current Assets 324.00
Total Current Assets 1,062,074.86
TOTAL ASSETS 1,062,074.86
LIABILITIES&EQUITY
Liabilities
Current Liabilities
Other Current Liabilities
0-2600• Escrow account-working capital 50,000.00
0-2229•SEP payable 1,517.64
0-2200• Payroll Liabilities 2,204.51
0-2300• Net Redemption Deposits Payable 0.00
0-2400• Net Cure Deposits Payable 0.00
0-2500• Net Sales Proceeds Payable 182,285.00
Total Other Current Liabilities 236,007.15
Total Current Liabilities 236,007.15
Total Liabilities 236,007.15
Equity
0-3100•Fund Balance 839,224.19
Net Income -13,156.48
Total Equity 826,067.71
TOTAL LIABILITIES&EQUITY 1,062,074.86
Page 1
6:54 PM Weld County Public Trustee
03126108 Profit & Loss
Accrual Basis January through December 2007
Jan-Dec 07
Ordinary Income/Expense
Income
1-1000-Foreclosure Revenues 1,203,106.66
1-2000-Release Revenues 317,907.35
1-5000•Miscellaneous Revenues/Fees 1,101.04
1-6000•Interest Revenues 86,602.21
Total Income 1,608,717.26
Cost of Goods Sold
2-1000•Cost of Foreclosures 453,890.74
2-2000•Cost of Releases 101,801.00
Total COGS 555,691.74
Gross Profit 1,053,025.52 -
Expense
5-0000•Charges for service 160,053.73
5-1200-Equipment Purchase 37,528.56
3-1000-Personnel Expenditures 300,710.87
4-0000-Operating and Maintenance 117,888.84
6999• Uncategorized Expenses 0.00
Total Expense 616,182.00 ✓
Net Ordinary Income 436,843.52
Other Income/Expense
Other Expense
5-1000•Escrow-working capital 50,000.00
4-1899•Return to Weld County 400,000.00
Total Other Expense 450,000.00
Net Other Income -450,000.00
Net Income -13,156.48
Page 1
6:55 PM Weld County Public Trustee
03/26/08 Profit & Loss
Accrual Basis January through December 2007
Jan-Dec 07
Ordinary Income/Expense
Income
1-1000•Foreclosure Revenues
1-1110•Foreclosure Receipts 1,000,895.40
1-1120• Refunds-Foreclosure Deposits -1,957.34
1-1130•Overbid 12,628.33
1-1300• Public Trustee Fees 14,506.50
1-1800-Misc. Foreclosure Fees 15,044.13
1-1900-Adjustments-Foreclosures 299.75
1-1000-Foreclosure Revenues-Other 161,689.89
Total 1-1000• Foreclosure Revenues 1,203,106.66
1-2000•Release Revenues
1-2100• Release Revenues Received 300,508.28
1-2120• Refunds-Releases 2,787.07
1-2800• Misc. Release Revenues 975.00
1-2000•Release Revenues-Other 13,637.00
Total 1-2000•Release Revenues 317,907.35
1-5000-Miscellaneous Revenues/Fees 1,101.04
1-6000•Interest Revenues
1-6500•Interest-Checking 66,236.17
1-6510•Interest-Reserves 20,366.04
Total 1-6000• Interest Revenues 86,602.21
Total Income 1,608,717.26
Cost of Goods Sold
2-1000•Cost of Foreclosures
2-1800• Misc. Foreclosure Costs 104,635.13
2-1400-Publication Expense-Foreclosure 254,246.59
2-1300•Overbid Paid 12,626.13
2-1100•Recording Costs-Foreclosures 58,630.56
2-1000•Cost of Foreclosures-Other 23,752.33
Total 2-1000•Cost of Foreclosures 453,890.74
2-2000•Cost of Releases
2-2800• Misc.Release Costs 2,471.79
2-2100• Recording Costs-Releases 93,013.50
2-2000•Cost of Releases-Other 6,315.71
Total 2-2000•Cost of Releases 101,801.00
Total COGS 555,691.74
Gross Profit 1,053,025.52
Expense
5-0000•Charges for service
4-1900•Miscellaneous Expense 3,971.11
4-1800•UTILITIES 7,201.71
4-1700•Telephone 10,082.09
4-1550• Professional Fees 108,639.71 f
4-1425• Meetings 1,805.47
4-1100• Bank Service Charges -2,061.83
4-1420•janitorial service 1,850.00
3-1800-Contract Labor 28,565.47
Total 5-0000•Charges for service 160,053.73
5-1200•Equipment Purchase 37,528.56
Page 1
6:55 PM Weld County Public Trustee
03/26/08 Profit & Loss
Accrual Basis January through December 2007
Jan-Dec 07
3-1000•Personnel Expenditures
3-1900-Education/training 967.60
3-1100-Salaries 257,353.12
3-1300•Employer's Share FICA 15,358.97
3-1400•FUTA Tax 356.23
3-1500•SUTA Tax 75.36
3-1600• Empl.Health Insurance 2,216.51
3-1650•TRIP PAY 123.02
3-1700-Retirement Fund Contributions 20,161.46
3-1000•Personnel Expenditures-Other 4,098.60
Total 3-1000• Personnel Expenditures 300,710.87
4-0000•Operating and Maintenance
4-1150• Dues and Subscriptions 971.47
4-1250• Equipment Rental&Lease 7,455.17
4-1400• Insurance&Bond 30,531.00
4-1435-MOVING EXPENSES 718.00
4-1450-Office Supplies 26,397.20
4-1500•Postage and Delivery 14,412.51
4-1600•Rent 22,517.50
4-1650•Repair&Maintenance 11,727.50
4-1750•Travel and Conferences 3,158.49
Total 4-0000-Operating and Maintenance 117,888.84
6999-Uncategorized Expenses 0.00
Total Expense 616,182.00
Net Ordinary Income 436,843.52
Other IncomelExpense
Other Expense
5-1000•Escrow-working capital 50,000.00
4-1899•Return to Weld County 400,000.00
Total Other Expense 450,000.00
Net Other Income -450,000.00
Net Income -13,156.48
Page 2
Weld County Public
mance sheet
•
Dec 31,07 To adjust special Payment to Adjusted Dec 31,07
reserve to county
$615,883
ASSETS
Current Assets
Checking/Savings
0-1100•Special reserve fund 419,506.05 196,67595 616,182.00
0-1012•Escrow Account 192,413 77 192,413.77
0-1011-UNION COLONY-CHECKING 449,731.04 (196,675.95) (203,05509) 50,000.00
0-1080.Cash on Hand 100.00 100.00
Total Checking/Savings 1,061,750 86 858.69577
Other Current Assets
0-1498•SHORT CHECKS RECEIVED 324.00
Total Other Current Assets 324.00
Total Current Assets 1,062,074.86
TOTAL ASSETS 1,062,074.86
LIABILITIES&EQUITY
Liabilities
Current Liabilities
Other Current Liabilities
0.2600'Escrow account-working capital 50,000.00
0-2229•SEP payable 1.51164
0-2200•Payroll Liabilities 2,204.51
0-2300-Net Redemption Deposits Payable 0.00
0-2400'Net Cure Deposits Payable O 00
0-2500-Net Sales Proceeds Payable 182,285.00
Total Other Current liabilities 236,007.15
Total Current Liabilities 236,007.15
Total Liabilities 23fi 007.15
Equity
0-3100-Fund Balance 839,224 19
Net Income -12,858.04
Total Equity 826.366 15
TOTAL LIABILITIES&EQUITY 1,062,373.30
WELD COUNTY PUBLIC TRUSTEE UNION COLONY BANK
809-9TH STREET#1 PH.970-352-4365 GREELEY,COLORADO 80634
GREELEY,CO 80631 82-335-1070 3/31/2008
PAY TO THE
ORDER OF Weld County Treasurer **203,055.09
Two Hundred Three Thousand Fifty-Five and 09/100********************************************************************' DOLLARS
Weld County Treasurer
MEMO
2007 Excess Funds P
III 0L 1: L070033531: 0L 48398"
WELD COUNTY PUBLIC TRUSTEE 11681
Weld County Treasurer 3/31/2008
2007 Excess Funds 203,055.09
UNION COLONY-C 2007 Excess Funds 203,055.09
VELD COUNTY PUBLIC TRUSTEE 11681
Weld County Treasurer 3/31/2008
2007 Excess Funds 203,055.09
UNION COLONY-C 2007 Excess Funds 203,055.09
It Of InE BUSINESS FORMS 1+800.328.0309 wwx.d&uxefemm%can
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