HomeMy WebLinkAbout20161508.tiff OFFICE OF THE PUBLIC TRUSTEE
WELD COUNTY, COLORADO
April 25, 2016
Barbara Connolly, Controller
Weld County Accounting Dept.
PO Box 758
Greeley,CO 80631
Dear Barb:
Attached are the first quarter 2016 Profit&Loss statement and Summary of Accounts along
with the signed and notarized Acknowledgement. The amount of excess funds for first quarter
2016 is$16,679.26. According to statute,the Public Trustee must pay to the Weld County
Treasurer any excess funds upon approval by the Commissioners.
This office processed 427 foreclosures in 2015 and 602 were processed in 2014. Comparing
foreclosure totals of 2015 to 2014, shows a decrease of 29%. In addition,this office processed
18,864 releases of deeds of trust in 2015 and 14,149 in 2014 for an increase of 33%.
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. Because the operating expenses for 2015 were less than the 2014 expenses,the
reserve fund must be reduced by $28,601.49 to bring the balance in the reserve fund to
$341,544.59. The interest earned on the reserve fund first quarter is$175.82. 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, checks in the amount of$16,679.26 and
$28,601.49 will be sent to the Weld County Treasurer for deposit into the Public Trustee Salary
Fund. Let me know if you have any questions.
ncerely•
usie elasquez
Public Trustee
Susie Velasquez,Public Trustee
1701 23'Avenue,Suite 250,Greeley,CO 80634
(970)3524365
www.wcpto.com
2016-1508
4
Weld County Public Trustee
Profit& Loss
January to March 2016
Profit and Loss January -March 2016
Ordinary Income/Expense
Income
4000 Foreclosure Revenues 32,398.08
4012 Release Revenues 69,780.00
4022 Miscellaneous Revenues/Fees 3,878.86
4300 Interest Revenues 256.97
Total Income 106,313.91
6300 Cost of Foreclosures 12,199.40
6302 Cost of Releases 95.36
Total Cost 12,294.76
Gross Profit 94,019.15
Expense
6200 Charges for Service 396.70
5200 Personnel expenditures 63,514.50
6280 Operating and Maintenance 13,428.69
Total Expense 77 339.89
Net Ordinary Income Second Quarter 16,679.26
Other Income/Expense
6875 • Net Income 16,679.26
SUMMARY OF ACCOUNTS
WELD COUNTY PUBLIC TRUSTEE
FIRST QUARTER- JANUARY TO MARCH 2016
OPERATING ACCOUNT
December 31, 2015 BEGINNING BALANCE $ 53,041.52
Excess cash over expense $ (7,855.36)
March 31, 2016 ENDING BALANCE $ 45,186.16
I
ESCROW ACCOUNT
December 31, 2015 BEGINNING BALANCE $ 991,839.81
Excess cash over expense $ 16,933.49
March 31, 2016 ENDING BALANCE $ 1,008,773.30
SPECIAL RESERVE FUND
December 31, 2015 BEGINNING BALANCE $ 370,146.08
Excess cash over expense: $ 175.82
March 31, 2016 ENDING BALANCE $ 370,321.90
1st Quarter 2016 Interest Earned on Reserve $ 175.82
2015 Operating Exp. 341,544.59
To Public Trustee Salary Fund $ 28,601.49
WELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
First Quarter Report of Receipts & Expenditures
January to March 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 eetfflfl s b fitted,
-ubl�ic T> stee
STA I'E OF COLORADO )
COUNTY OF WELD )
This instrument was acknowledged before me this 25th day of April 2016 by Susie
Velasquez as the Public Trustee for the County o'Weld, S : of Colorado.
Witness my hand and seal
JULIE COLE r+otary ' blic
NOTARY PUBLIC
STATE OF COLORADO
NOTARY ID 20134016881
MY COMMISSION EXPIRES MARCH 15,2017
Acknowledgement
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