HomeMy WebLinkAbout20183374.tiff OFFICE OF THE PUBLIC TRUSTEE
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WELD COUNTY,COLORADO U� r P
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October 17,2018
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 2018 Profit&Loss statement and Summary of Accounts along
with the signed and notarized Acknowledgement. This office processed 88 Foreclosures and
4,089 Releases this quarter. A comparison of second quarter to third quarter shows a 16%
decrease for Releases. However, foreclosures for both second and third quarter 2018 were the
same number, 88 per quarter.
The amount of excess funds for second quarter 2018 is $2,273.81. 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 2017 totaled$302,730.99. The interest earned
on the reserve fund second quarter is$640.92. 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$2,273.81 will be sent to the Weld County Treasurer for deposit into
the Public Trustee Salary Fund upon approval. Please let me know if you have any questions.
Sine ,
� �.. e asquez
' • •lic ru - -
Susie Velasquez,Public Trustee
1701 23'Avenue,Suite 250,Greeley,CO 80634
(970)352-4365
www.wcpto.com
cpor+ 2018-3374
1O/ awl/18'
Weld County Public Trustee
Profit& Loss
July to September 2018
Profit and Loss July-September 2018
Ordinary Income/Expense
Income
4000 Foreclosure Revenues 25,595.00
4012 Release Revenues 61,335.00
4022 Miscellaneous Revenues/Fees 2,105.87
4300 Interest Revenues 764.23
Total Income 89,800.10
6300 Cost of Foreclosures 10,431.89
6302 Cost of Releases 74.17
Total Cost 10,506.06
Gross Profit 79,294.04
Expense
6200 Charges for Service 17,408.56
5200 Personnel expenditures 58,129.53
6280 Operating and Maintenance 1,482.14
Total Expense 77,020.23
Net Ordinary Income Second Quarter 2,273.81
Other Income/Expense
6875• Net Income 2,273.81
SUMMARY OF ACCOUNTS
WELD COUNTY PUBLIC TRUSTEE
THIRD QUARTER JULY THROUGH SEPTEMBER 2018
OPERATING ACCOUNT
June 30, 2018 BEGINNING BALANCE $ 34,406.24
Excess cash over expense $ (17,364.15)
September 30,2018 ENDING BALANCE $ 17,042.09
ESCROW ACCOUNT
June 30, 2018 BEGINNING BALANCE $ 273,555.16
Excess cash over expense $ 30,134.77
September 30,2018 ENDING BALANCE $ 303,689.93
SPECIAL RESERVE FUND
June 30,2018 BEGINNING BALANCE $ 305,988.96
Excess cash over expense $ 640.92
September 30, 2018 ENDING BALANCE $ 306,629.88
3rd Quarter 2018 Interest Earned on Reserve $ 640.92
2017 Operating Exp. 302,730.99
To Public Trustee Salary Fund $ 3,898.89
WELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
Third Quarter Report of Receipts & Expenditures
July to September 2018
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.
Respe ' lly submitted,
Susie as uez, Publi `Trustee
STATE OF COLORADO )
COUNTY OF WELD )
�regoing instrument was acknowledged before me this 17th day of October 2018 by Susie
Velas*uez, eld Co 'ublic Trustee.
‘A.Q,
JUUE CATHLEEN COLE
Notary ublic NOTARY PUBUC
STATE OF COLORADO
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ommission expires: My COMMISSION EXPIRES MARCH 15,2021
Acknowledgement
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