HomeMy WebLinkAbout20162630.tiffJuly 28, 2016
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 2016 Profit & Loss statement and Summary of Accounts along
with the signed and notarized Acknowledgement. This office processed 98 Foreclosures second
quarter. Comparing second quarter to firsts quarter, shows a 17% decrease There were 4,533
Releases processed this quarter. Comparing second quarter to first quarter, shows a slight
decrease of 2%.
The amount of excess funds for second quarter 2016 is $14,234.02. According 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 2015 totaled
$341,544.59. The interest earned on the reserve fund second quarter is $359.63. 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 $14.234.02 will
be sent to the Weld County Treasurer for deposit into the Public Trustee Salary Fund. Let me
know if you have any questions.
i
ncerely,
usie Velasquez
Public Trustee
Susie Velasquez, Public Trustee
170123" Avenue, Suite 250, Greeley, CO 80634
(970) 3524365
www.wcpto.com
2016-2630
8-15-zoco
Weld County Public Trustee
Profit & Loss
April to June 2016
Profit and Loss April -June 2016
Ordinary Income/Expense
Income
4000 Foreclosure Revenues
4012 Release Revenues
4022 Miscellaneous Revenues/Fees
4300 Interest Revenues
31,011.18
67,596.00
3,198.87
580.60
Total Income 102,385.65
Total Cost
Gross Profit
Expense
6300 Cost of Foreclosures
6302 Cost of Releases
6200 Charges for Service
5200 Personnel expenditures
6280 Operating and Maintenance
Total Expense
Net Ordinary Income Second Quarter
Other Income/Expense
11,677.44
95.36
11,772.80
90,612.85
416.11
62,829.07
13,133.65
76,378.83
14,234.02
6875 • Net Income 14,234.02
March 31, 2016
SUMMARY OF ACCOUNTS
WELD COUNTY PUBLIC TRUSTEE
SECOND QUARTER - APRIL TO JUNE 2016
OPERATING ACCOUNT
BEGINNING BALANCE
$ 45,186.16
Excess cash over expense: $ (11,695.85)
June 30, 2016 ENDING BALANCE $ 33,490.31
March 31, 2016
June 30, 2016
March 31, 2016
June 30, 2016
ESCROW ACCOUNT
BEGINNING BALANCE $ 1,008,773.30
Excess cash over expense: $ (802,723.88)
ENDING BALANCE $ 206,049.42
SPECIAL RESERVE FUND
BEGINNING BALANCE $ 370,321.90
Excess cash over expenses $ (28,200.51)
ENDING BALANCE $ 342,121.39
2nd Quarter 2016 Interest Earned on Reserve $ 359.63
2015 Operating Exp. 341,544.59
To Public Trustee Salary Fund $ 28,777.31
WELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
Second Quarter Report of Receipts & Expenditures
April to June 2016
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.
Res .e Ily submitted,
Ada
as uez, Public Trustee
STATE OF COLORADO )
COUNTY OF WELD )
This instrument was acknowledged before me t• s 28th day of July 2016 by Susie Velasquez
as the Public Trustee for the County of Weld, . tate o ' Colorado.
Witness my hand and seal
JULIE COLE
NOTARY PUBLIC
STATE OF COLORADO
NOTARY ID 20134016881
MY COMMISSION EXPIRES MARCH 15, 2017
Acknowledgement
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