HomeMy WebLinkAbout20172594July 21, 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 second quarter 2017 Profit & Loss statement and Summary of Accounts along
with the signed and notarized Acknowledgement. This office processed 82 Foreclosures second
quarter for a 15% decrease from first quarter. This office processed 4,862 Releases this quarter
for a decrease of 19% over first quarter.
The amount of excess funds for second quarter 2017 is $19,808.88. 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 second quarter is $663.40. 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 $19,808.88 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" Avenue, Suite 250, Greeley, CO 80634
(970) 3524365
www.tvcpto.conl
aOt 1 - o�599
WELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
Second Quarter Report of Receipts & Expenditures
April to June 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.
Respectfxtl1 submitted,
z, Public Trustee
STATE OF COLORADO )
COUNTY OF WELD )
This instrument was acknowledged before me this 21st day of July 2017 by Susie
Velasquez as the Public Trustee for the County of W, d, .te of C9lorado.
Witness my hand and seal
JULIE CAIN FEN COLE
NOTARY PUBLIC
STATE Of COLORADO
NOTARY 1O20134016881
MY COMMISSION EXPIRES MARCH 15, 2021
Acknowledgement
Weld County Public Trustee
Profit & Loss
April to June 2017
Profit and Loss April - June 2017
Ordinary Income/Expense
Income
4000 Foreclosure Revenues
4012 Release Revenues
4022 Miscellaneous Revenues/Fees
4300 Interest Revenues
24,891.11
73,727.39
2,782.30
790.13
Total Income 102,190.93
6300 Cost of Foreclosures
6302 Cost of Releases
9,941.44
122.80
Total Cost 10,064.24
Gross Profit 92,126.69
Expense
6200 Charges for Service
5200 Personnel expenditures
6280 Operating and Maintenance
Total Expense
Net Ordinary Income Fourth Quarter
Other Income/Expense
425.80
56,566.22
15,325.79
72,317.81
19,808.88
6875 • Net Income 19,808.88
March 31, 2017
June 30, 2017
March 31, 2017
June 30, 2017
March 31, 2017
June 30, 2017
SUMMARY OF ACCOUNTS
WELD COUNTY PUBLIC TRUSTEE
SECOND QUARTER APRIL TO JUNE
OPERATING ACCOUNT
BEGINNING BALANCE
57,384.15
Excess cash over expense: $ (25,271.31)
ENDING BALANCE $ 32,112.84
ESCROW ACCOUNT
BEGINNING BALANCE $ 771,655.27
Excess cash over expense. $ (650,174.98)
ENDING BALANCE $ 121,480.29
SPECIAL RESERVE FUND
BEGINNING BALANCE $ 343,69820
Excess cash over expense: $ (30,719.86)
ENDING BALANCE $ 312,978.94
2nd Quarter 2017 Interest Earned on Reserve $ 663.40
2016 Operating Exp.
312,279.17
To Public Trustee Salary Fund
$ 699.77
Hello