HomeMy WebLinkAbout20141309.tiff OFFICE OF THE PUBLIC TRUSTEE B6,
WELD COUNTY, COLORADONg
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April 14, 2014
Barbara Connolly, Controller
Weld County Accounting Department
PO Box 758
Greeley, CO 80631
Dear Barb:
Enclosed are the first quarter 2014 Profit &Loss statement and Summary of Accounts along
with the signed and notarized acknowledgement. The amount of excess funds for first quarter
2014 is $1,618.02. According to statute, the Public Trustee reserve fund balance must be
maintained at the previous year's operating expenses. In order to increase the existing reserve
fund balance, the excess funds of$1,618.02 must be deposited into the reserve fund account.
As reported in the Northern Colorado Business Report and based on the Division of Housing
data, Weld County has experienced a larger decrease in foreclosures compared to the state
average. Weld County had a 48% decrease in foreclosure filings year-over-year in 2013, and a
44% drop in foreclosure sales. Also, releases of Deeds of Trust decreased 40.4% from the first
quarter of 2013 to first quarter 2014. Total income decreased 34.25 % from first quarter 2013
to first quarter 2014.
Please let me know if you have any questions.
'rely,
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Public Trustee
Enclosures
Susie Velasquez,Esq.
Weld County Public Trustee
1701 23'd Avenue,Suite 250,Greeley,CO 80634
(970)352-4365
� Po RTC www.wcpto.com
J 2014-1309
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Weld County Public Trustee
Profit&Loss
Jauary to March 2014
Profit and Loss Jan - March 14
Ordinary Income/Expense
Income
4000 Foreclosure Revenues 51,710.38
4012 Release Revenues 42,405.00
4022 Miscellaneous Revenues/Fees 3,929.40
4300 Interest Revenues 238.54
Total Income 98,283.32
6300 Cost of Foreclosures 8,850.71
6302 Cost of Releases 0.00
Total Cost 8,850.71
Gross Profit 89,432.61
Expense
6200 Charges for Service 2,712.50
5200 Personnel expenditures 72,357.84
6280 Operating and Maintenance 12,744.25
Total Expense 87,814.59
Net Ordinary Income Fourth Quarter 1,618.02
Other Income/Expense
6875 • Net Income 1,618.02
Total Other Expense 0.00
Net Other Income 0.00
SUMMARY OF ACCOUNTS
WELD COUNTY PUBLIC TRUSTEE
FIRST QUARTER-JANUARY TO MARCH 2014
OPERATING ACCOUNT
December 31, 2013 BEGINNING BALANCE $ 33,033.92
Excess cash over expense! $ (2,236.44)
March 31, 2014 ENDING BALANCE $ 30,797.48
ESCROW ACCOUNT
December 31, 2013 BEGINNING BALANCE $ 60,510.87
Excess cash over expense! $ 1,703,349.56
March 31, 2014 ENDING BALANCE $ 1,763,860.43
SPECIAL RESERVE FUND
December 31, 2013 BEGINNING BALANCE $ 374,047.61
Excess cash over expense! $ 68.74
March 31, 2014 ENDING BALANCE $ 374,116.35
1st Quarter 2014 Interest earned on Reserve $ 68.74
2013 Operating Exp. $ 421,888.45
WELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
Fourth Quarter Report of Receipts & Expenditures
January to March 2014
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 mi e•
ue rustee
STATE OF COLORADO )
COUNTY OF WELD )
This instrument was acknowledged before me this 14th day of April 2014 by Susie Velasquez as
the Public Trustee for the County of Weld, State of Colorado.
Witness my hand and seal
jTE M. S No Public
My Commission Expires 04/20/2018
tisN PUBLIC
Acknowledgement ..
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