HomeMy WebLinkAbout20180303.tiffOFFICE OF THE PUBLIC TRUSTEE
WELD COUNTY, COLORADO
January 23, 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 fourth quarter 2017 Profit & Loss statement and Summary of Accounts along
with the signed and notarized Acknowledgement. This office processed 4,819 Releases and 84
Foreclosures fourth quarter for a 16% decrease in Foreclosures and 4% increase in Releases.
The amount of excess funds for fourth quarter 2017 is $12,578.08. Pursuant to statute, the
Public Trustee must pay to the Weld County Treasurer any excess funds upon approval by the
Commissioners.
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 2016 totaled
$312,279.17. The interest earned on the reserve fund fourth quarter is $638.80. At the end of
the year, the total interest earned on the reserve fund will be forwarded to the Weld County
Treasurer.
Once approval is received from the Commissioners, a check in the amount of $12,578.08 will
be sent to the Weld County Treasurer for deposit into the Public Trustee Salary Fund. Let me
know if you have any questions.
Susie Velasquez, Public Trustee
1701 23'd Avenue, Suite 250, Greeley, CO 80634
(970) 352-4365
www.wcpto.com
Ref617-71-
- 2143
2018-0303
Weld County Public Trustee
Profit & Loss
October to December 2017
Profit and Loss October - December 2017
Ordinary Income/Expense
Income
Total Income
Total Cost
Gross Profit
Expense
4000 Foreclosure Revenues
4012 Release Revenues
4022 Miscellaneous Revenues/Fees
4300 Interest Revenues
6300 Cost of Foreclosures
6302 Cost of Releases
6200 Charges for Service
5200 Personnel expenditures
6280 Operating and Maintenance
Total Expense
Net Ordinary Income Fourth Quarter
Other Income/Expense
6875 • Net Income
24,428.00
72,275.00
2,399.38
686.22
99,788.60
10,041.86
108.30
10,150.16
89,638.44
8,182.32
64,064.39
4,813.65
77,060.36
12,578.08
12,578.08
SUMMARY OF ACCOUNTS
WELD COUNTY PUBLIC TRUSTEE
FOURTH QUARTER OCTOBER THROUGH DECEMBER 2017
OPERATING ACCOUNT
September 30, 2017 BEGINNING BALANCE $ 27,772.79
Excess cash over expenses $ 3,891.29
December 31, 2017 ENDING BALANCE $ 31,664.08
ESCROW ACCOUNT
September 30, 2017 BEGINNING BALANCE $ 617,070.49
Excess cash over expense $ (345,564.21)
December 31, 2017
September 30, 2017
December 31, 2017
ENDING BALANCE $ 271,506.28
SPECIAL RESERVE FUND
BEGINNING BALANCE $ 313,322.92
Excess cash over expense: $ 638.80
ENDING BALANCE $ 313,961.72
4TH Quarter 2017 Interest Earned on Reserve $ 638.80
2016 Operating Exp. 312,279.17
To Public Trustee Salary Fund $ 1,682.55
STATE OF COLORADO )
COUNTY OF WELD )
WELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
Fourth Quarter Report of Receipts & Expenditures
October to December 2017
I, Susie Velasquez, upon oath duly sworn, state that the information contained herein is
true and correct to t t - . - • • knowledge and belief.
Respectfully submitted,
u.lic Trustee
This instrument was acknowledged before me this • day of January 2018 by Susie Velasquez
as the Public Trustee for the County of Weld, S • - of s olo . 4 o.
Witness my hand and seal
JULIE CATHLEEN COLE
NOTARY PUBLIC
STATE OF COLORADO
NOTARY ID 20134016881
MY COMMISSION EXPIRES MARCH 15, 2021
Acknowledgement
Public
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