HomeMy WebLinkAbout20194471.tiff OFFICE OF THE PUBLIC TRUSTEE
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WELD COUNTY, COLORADO 1
October 7, 2019
Barbara Connolly, Controller
Weld County Accounting Dept.
PO Box 758
Greeley, CO 80631
Email: bconnolly@co.weld,co.us
Dear Barb:
Attached are the third quarter 2019 Profit&Loss statement and Summary of Accounts along
with the signed and notarized Acknowledgement. This office processed 68 Foreclosures and
5,363 Releases this quarter. Last quarter, 75 foreclosures and 4,204 Releases were processed.
A comparison of third to second quarter, shows a 9%decrease in foreclosures and 27.5%
increase in Releases processed for the period July through September.
The amount of excess funds for third quarter 2019 is $3,714.82. 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 interest earned
on the reserve fund third quarter is$772.20. At the end of the year, the total interest earned on
the reserve fund will be forwarded to the Weld County Treasurer.
A check in the amount of$3,714.82 will be sent to the Weld County Treasurer for deposit into
the Public Trustee Salary Fund. Please let me know if you have any questions.
S•• -rely
e elasquez
Susie Velasquez,Public Trustee
1701 23'Avenue,Suite 250,Greeley,CO 80634
(970)3524365
www.wcpto.com
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Weld County Public Trustee
Profit& Loss
July to September 2019
Profit and Loss July-September 2019
Ordinary Income/Expense
Income
4000 Foreclosure Revenues 20,786.59
4012 Release Revenues 82,395.00
4022 Miscellaneous Revenues/Fees 1,893.37
4300 Interest Revenues 925.73
Total Income 106,000.69
6300 Cost of Foreclosures 8,345.36
6302 Cost of Releases 45.80
Total Cost 8,391.16
Gross Profit 97,609.53
Expense
6200 Charges for Service 21,164.66
5200 Personnel expenditures 54,729.68
6280 Operating and Maintenance 18,000.37
Total Expense 93,894.71
Net Ordinary Income Fourth Quarter 3,714.82
Other Income/Expense
6875• Net Income 3,714.82
SUMMARY OF ACCOUNTS
WELD COUNTY PUBLIC TRUSTEE
THIRD QUARTER JULY THROUGH SEPTEMBER 2019
OPERATING ACCOUNT
June 30, 2019 BEGINNING BALANCE $ 18,579.83
Excess cash over expense: $ 4,086.13
September 30, 2019 ENDING BALANCE $ 22,665.96
ESCROW ACCOUNT
June 30, 2019 BEGINNING BALANCE $ 1,022,862.56
Excess cash over expenses $ (105,409.18)
September 30, 2019 ENDING BALANCE $ 917,453.38
SPECIAL RESERVE FUND
June 30, 2019 BEGINNING BALANCE $ 306,816.38
Excess cash over expense $ 772.20
September 30, 2019 ENDING BALANCE $ 307,588.58
3rd Quarter 2019 Interest Earned on Reserve $ 772.20
2018 Operating Exp. 305,300.38
To Public Trustee Salary Fund $ 2,288.20
WELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
Third Quarter Report of Receipts & Expenditures
July through September 2019
I, Susie Velasquez, upon oath duly sworn, state that the information contained herein is
true and correct to the best-ofimy knowledge and belief.
Re .ectfully submitted,
a asquez,P bl. ustee
STATE OF COLORADO )
COUNTY OF WELD )
t
foregoi g instrument was acknowledged before me this f day of October 2019 by Susie
Velas uez, eld 90 , Public Trustee.
JULIE caTotlEEN COLE
Notary P blic NOTARY PUSUC
STATE OF COLORADO
NOTARY 6}20134016661
My commission expires: //57304,Z1 MY COMMISSION EXPIRES MARCH 15,2021
Acknowledgement
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