HomeMy WebLinkAbout20191575.tiffOFFICE OF THE PUBLIC TRUSTEE
April 18, 2019
WELD COUNTY, COLORADO
Barbara Connolly, Controller
Weld County Accounting Dept.
PO Box 758
Greeley, CO 80631
Email: bconnolly@co.weld.co.us
Dear Barb:
Attached are the first quarter 2019 Profit & Loss statement and Summary of Accounts along
with the signed and notarized Acknowledgement. The amount of excess funds for first quarter
2019 is $377.55. Pursuant to statute, the Public Trustee must pay to the Weld County Treasurer
any excess funds upon approval by the Commissioners.
This office processed 375 foreclosures in 2018 and 362 foreclosures processed in 2017.
Comparing foreclosure totals from 2018 to 2017, shows an increase of 4%. In addition, this
office processed 16,724 releases of deeds of trust in 2018 and 20,355 in 2017 for a decrease of
18%.
As mandated by statute, the Public Trustee must keep a separate reserve fund in an amount
equal to total operating costs of the previous year. The operating expenses for 2018 totaled
$305,300.38. The reserve fund must be decreased by $2,268.67 to bring the balance in the
reserve fund to $305,300.38.
As soon as I hear back from you, checks in the amount of $377.55 and $2,268.67 will be mailed
to the Weld County Treasurer for deposit into the Public Trustee Salary Fund. Please let me
know if yo awe a y_questiions.
Susie V -- 'asquez
Public Trustee
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Susie Velasquez, Public Trustee
1701 23' Avenue, Suite 250, Greeley, CO 80634
(970) 352-4365
www.wcpto.com
2019-1575
Weld County Public Trustee
Profit & Loss
January to March 2019
Profit and Loss January -March 2019
Ordinary Income/Expense
Income
Total Income
4000 Foreclosure Revenues
4012 Release Revenues
4022 Miscellaneous Revenues/Fees
4300 Interest Revenues
6300 Cost of Foreclosures
6302 Cost of Releases
28,175.48
51,630.00
3,316.35
817.91
83,939.74
11,492.62
41.61
Total Cost 11,534.23
Gross Profit 72,405.51
Expense
6200 Charges for Service
5200 Personnel expenditures
6280 Operating and Maintenance
Total Expense
Net Ordinary Income Fourth Quarter
Other Income/Expense
6875 • Net Income
11,620.14
57,125.66
3,282.16
72,027.96
377.55
377.55
SUMMARY OF ACCOUNTS
WELD COUNTY PUBLIC TRUSTEE
FOURTH QUARTER JANUARY THROUGH MARCH 2019
OPERATING ACCOUNT
December 31, 2018 BEGINNING BALANCE $ 19,846.83
Excess cash over expense $ 1,560.85
March 31, 2019 ENDING BALANCE $ 21,407.68
ESCROW ACCOUNT
December 31, 2018 BEGINNING BALANCE $ 299,085.94
Excess cash over expenses $ (63,097.38)
March 31, 2019
December 31, 2018
March 31, 2019
ENDING BALANCE $ 235,988.56
SPECIAL RESERVE FUND
BEGINNING BALANCE $ 307,569.05
Excess cash over expense $ 740.74
ENDING BALANCE $ 308,309.79
1st Quarter 2019 Interest Earned on Reserve $ 740.74
2018 Operating Exp. 305,3Q0.38
To Public Trustee Salary Fund $ 2,268.67
WELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
First Quarter Report of Receipts & Expenditures
January to March 2019
I, Susie Velasquez, upon oath duly sworn, state that the information contained herein is
true and correct to the--bes . knowledge and belief.
espectfully submitted,
us% elasquez, Public Trustee
STATE OF COLORADO )
COUNTY OF WELD )
T e forego' : i s ument : cknowledged before me this 18th day of April 2019 by Susie
V . asquez, e d oun ' ubli T stee.
ion expires: (5/ . f o3,0 a2
JULIE CATHLEEN COLE
NOTARY PUBLIC
STATE OF COLORADO
NOTARY ID 20134016881
MY COMMISSION EXPIRES MARCH 16, 2021
Acknowledgement
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