HomeMy WebLinkAbout20171208.tiffWELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
First Quarter Report of Receipts & Expenditures
January to March 2017
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.
RespectfGTly submnitt
STATE OF COLORADO )
COUNTY OF WELD )
This instrument was acknowledged before me thi -.,27th day of April 2017 by Susie
Velasquez as the Public Trustee for the County f Wet., Stag of Colorado.
Witness my hand and seal
JULIE CATHLEEN COLE
NOTARY PUBLIC
STATE OF COLORADO
NOTARY ID 20134016881
MY COMMISSION EXPIRES MARCH 15, 2021
Acknowledgement
IRizfor-+
5/3/11
ublic
2017-1208
April 27, 2017
OFFICE OF THE PUBLIC TRUSTEE
WELD COUNTY, COLORADO
Barbara Connolly, Controller
Weld County Accounting Dept.
PO Box 758
Greeley, CO 80631
Dear Barb:
Attached are the first quarter 2017 Profit & Loss statement and Summary of Accounts along
with the signed and notarized Acknowledgement. The amount of excess funds for first quarter
2016 is $37,585.14. Pursuant to statute, the Public Trustee must pay to the Weld County
Treasurer any excess funds upon approval by the Commissioners.
This office processed 411 foreclosures in 2016 and 427 were processed in 2015. Comparing
foreclosure totals from 2016 to 2015, shows a decrease of 4%. In addition, this office processed
20,052 releases of deeds of trust in 2016 and 18,864 in 2015 for an increase of 6%.
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. Because the operating expenses for 2016 were less than the 2015 expenses, the
reserve fund will be reduced by $31,419.63 to bring the balance in the reserve fund to
$312,279.17.
Once approval is received from the Commissioners, checks in the amount of $37,585.14 and
$31,419.63 will be mailed to the Weld County Treasurer for deposit into the Public Trustee
Salary Fund.._P1.e.e jet me know if you have any questions.
elasq. z
Public rustee
Susie Velasquez, Fsq.
Weld County Public Trustee
1701 23' Avenue, Suite 250, Greeley, CO 80634
(970) 352-4365
www.wcpto.com
Weld County Public Trustee
Profit & Loss
January to March 2017
Profit and Loss January - March 2017
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
29,091.88
90,468.00
2,374.72
336.64
122,271.24
11,408.94
110.46
Total Cost 11,519.40
Gross Profit 110,751.84
Expense
6200 Charges for Service
5200 Personnel expenditures
6280 Operating and Maintenance
Total Expense
Net Ordinary Income Fourth Quarter
Other Income/Expense
481.61
59,465.67
13,219.42
73,166.70
37,585.14
6875 . Net Income 37,585.14
SUMMARY OF ACCOUNTS
WELD COUNTY PUBLIC TRUSTEE
FIRST QUARTER JANUARY TO MARCH
OPERATING ACCOUNT
December 31, 2016 BEGINNING BALANCE $ 60,662.97
Excess cash over expense $ (3,278.82)
March 31, 2017 ENDING BALANCE $ 57,384.15
ESCROW ACCOUNT
December 31, 2016 BEGINNING BALANCE $ 130,263.44
Excess cash over expense $ 641,391.83
March 31, 2017
December 31, 2016
March 31, 2017
ENDING BALANCE $ 771,655.27
SPECIAL RESERVE FUND
BEGINNING BALANCE $ 343,421.30
Excess cash over expense: $ 277.50
ENDING BALANCE $ 343,698.80
1st Quarter 2017 Interest Earned on Reserve $ 256.71
2016 Operating Exp. 312,279.17
To Public Trustee Salary Fund $ 31,419.63
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