HomeMy WebLinkAbout20153603.tiff OFFICE OF THE PUBLIC TRUSTEE
WELD COUNTY, COLORADO
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October 29,2015 RECEIVED
Barbara Connolly,Controller OCT 2 9 2015
bconnolly@co.weld.co.us WELD COUNTY
COMMISSIONERS
Dear Barb:
Enclosed are the third quarter 2015 Profit&Loss statement and Summary of Accounts along
with the signed and notarized Acknowledgement. Third quarter 2015 net income totaled
$18,446.04.
This office processed 115 foreclosures this quarter. This is a small increase over the previous
quarter. However, comparing this third quarter to last year's third quarter, shows a decrease of
6.50%for foreclosures processed.
Releases of Deeds of Trust are still coming in strong with the total number processed this
quarter at 5,242. Comparing this third quarter to last year's third quarter shows an increase of
30% 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 so far this year.
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$18,446.04
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.
Sincerely_,
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Susie Velasquez,Public Trustee
1701 23"Avenue,Suite 250,Greeley,CO 80634
(970)3524365
www.wcpto.com
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2015-3603
Weld County Public Trustee
Profit& Loss
July to September 2015
Profit and Loss July-September
Ordinary IncomelExpense
Income
4000 Foreclosure Revenues 42,654.60
4012 Release Revenues 78,455.25
4022 Miscellaneous Revenues/Fees 3,260.84
4300 Interest Revenues 154.60
Total Income 124,525.29
6300 Cost of Foreclosures 15,043.86
6302 Cost of Releases 34.11
Total Cost 15,077.97
Gross Profit 109,447.32
Expense
6200 Charges for Service 10,336.95
5200 Personnel expenditures 66,649.02
6280 Operating and Maintenance 14,015.31
Total Expense 91,001.28
Net Ordinary Income Second Quarter 18,446.04
Other Income/Expense
6875- Net Income 18,446.04
SUMMARY OF ACCOUNTS
WELD COUNTY PUBLIC TRUSTEE
THIRD QUARTER- JULY TO SEPTEMBER 2015
OPERATING ACCOUNT
June 30, 2015 BEGINNING BALANCE $ 21,318.95
Excess cash over expense $ 25,992.26
September 30, 2015 ENDING BALANCE $ 47,311.21
ESCROW ACCOUNT
June 30,2015 BEGINNING BALANCE $ 388,211.97
Excess cash over expense. $ 84,172.17
September 30, 2015 ENDING BALANCE $ 472,384.14
SPECIAL RESERVE FUND
June 30,2015 BEGINNING BALANCE $ 369,192.53
Excess cash over expense $ 109.30
September 30, 2015 ENDING BALANCE $ 369,301.83
3nd Quarter 2015 Interest Earned on Reserve $ 109.30
2014 Operating Exp. 368,166.21
WELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
Third Quarter Report of Receipts & Expenditures
July to September 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.
Respect y-sti 4,
S e \-alas e , Public Trustee
STATE OF COLORADO )
COUNTY OF WELD )
This instrument was acknowledged before me this 29th day of October 2015 by Susie
Velasquez as the Public Trustee for the County of W: d, State of Colorado.
Witness my hand and seal
► otary
JULIE COLE
NOTARY PUBLIC
STATE OF COLORADO
NOTARY ID 20134016881
MY COMMISSION EXPIRES MARCH 15,2017
Acknowledgement
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