HomeMy WebLinkAbout20160478.tiff OFFICE OF THE PUBLIC TRUSTEE
WELD COUNTY, COLORADO - 10. r f'
January 28,2016
Barbara Connolly,Controller
bconnolly@co.weld.co.us
Dear Barb:
Enclosed are the fourth quarter 2015 Profit&Loss statement and Summary of Accounts along
with the signed and notarized Acknowledgement. Fourth quarter 2015 net income totaled
$25,775.43.
This office processed 108 foreclosures this quarter. This is a decrease over the previous quarter.
Comparing 4Q 2015 to 4Q 2014,shows a decrease of 17.6%for foreclosures processed.
Releases of Deeds of Trust are still coming in strong with the total number processed this
quarter at 5,127. Comparing 4Q 2015 to 4Q 2014,shows an increase of 26% in the number of
releases processed. In July of this year, 1,946 releases were processed and that is the highest
number of releases processed in one month in 201S.
According to statute,the Public Trustee must pay to the Weld County Treasurer any excess
funds upon approval by the commissioners. Therefore,a check in the amount of$25,775.43
will be issued to the Weld County Treasurer once the commissioners' approval is received. The
Treasurer is required to deposit the funds into the Public Trustee Salary Fund. At the expiration
of the year,the County Treasurer shall then transfer the balance of the Public Trustee Salary
Fund to the County General Fund as required by statute.
As mandated by statute,the Public Trustee will keep a separate reserve fund in an amount equal
to total operating costs of the previous year. The operating expenses for 2014 totaled
$368,166.21. This is the amount that the Public Trustee must hold in a separate interest-bearing
account.
Please let me know if you have any questions.
Sincerel ,
Sus e •e asquez
Susie Velasquez,Public Trustee
170123`°Avenue,Suite 250,Greeley,CO 80634
(970)352-4365
www.wcnto.com
2016-0478
a-/-20,10
Weld County Public Trustee
Profit& Loss
October to December 2015
Profit and Loss October-December 2015
Ordinary Income/Expense
Income
4000 Foreclosure Revenues 32,398.08
4012 Release Revenues 77,060.00
4022 Miscellaneous Revenues/Fees 2,086.66
4300 Interest Revenues 1,042.09
Total income 112,586.83
6300 Cost of Foreclosures 11,901.34
6302 Cost of Releases 123.94
Total Cost 12,025.28
Gross Profit 100,561.55
Expense
6200 Charges for Service 381.95
5200 Personnel expenditures 62,050.66
6280 Operating and Maintenance 12,353.51
Total Expense 74,786.12
Net Ordinary Income Second Quarter 25,775.43
Other income/Expense
6875• Net income 25,775.43
SUMMARY OF ACCOUNTS
WELD COUNTY PUBLIC TRUSTEE
FOURTH QUARTER- OCTOBER TO DECEMBER 2015
OPERATING ACCOUNT
September 30,2015 BEGINNING BALANCE $ 47,311.21
Excess cash over expense; $ 5,730.31
December 31,2015 ENDING BALANCE $ 53,041.52
ESCROW ACCOUNT
September 30,2015 BEGINNING BALANCE $ 472,384.14
Excess cash over expense: $ 519,455.67
December 31,2015 ENDING BALANCE $ 991,839.81
SPECIAL RESERVE FUND
September 30,2015 BEGINNING BALANCE $ 369,301.83
Excess cash over expense $ 844.25
December 31,2015 ENDING BALANCE $ 370,146.08
4th Quarter 2015 Interest Earned on Reserve $ 844.25
2014 Operating Exp. 368,166.21
•
WELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
Fourth Quarter Report of Receipts & Expenditures
October to December 2015
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 fully submitted,
usi blic Trustee
STATE OF COLORADO )
COUNTY OF WELD )
This instrument was acknowledged before me this O O day of January 2016 by Susie
Velasquez as the Public Trustee for the County of Weld, State of Colorado.
Witness my hand and seal
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NO.j.ARy
--i--• I My Commission Expires 04/16/2016
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Acknowledgement
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