HomeMy WebLinkAbout20140399.tiff OFFICE OF THE PUBLIC TRUSTEE
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WELD COUNTY, COLORADO o v
January 30, 2014
Barbara Connolly, Controller
Weld County Accounting Dept.
PO Box 758
Greeley, CO 80631
Dear Barb:
As with other Public Trustee offices, the number of foreclosure filings has decreased
significantly. In Weld County, 2012 foreclosures totaled 1,579. In 2013, foreclosures totaled
820; a decrease in foreclosure filings of 48%. This is definitely good news for the economy.
Enclosed are the fourth quarter 2013 Profit &Loss statement and Summary of Accounts along
with the signed and notarized Acknowledgement. Fourth quarter income totaled$78,517.78 for
a decrease of approximately 40% from the previous 2013 quarters. Consequently,there are no
excess funds for fourth quarter 2013.
The amount of excess funds paid to the County for 2013 totaled $145,990.83. As you will
recall, the independent audit showed that there was a$78,681.59 payable to the County plus
another$18,826.05 excess funds. After payment to the County, the reserve balance is now
$375,047.61. That balance is below the previous year's operating expenses of$417,494.00.
Per statute, we now need to bring the reserve balance up to the previous year's operating
expenses.
I would be ha r any questions you may have. Thank you.
.ncerely,
ue
Public Trustee
Susie Velasquez,Public Trustee
170123rd Avenue,Suite 250,Greeley,CO 80634
(970)352-4365
www.wcpto.com
R-Q-Ports , 2014-0399
Weld County Public Trustee
Profit&Loss
October to December 2013
Profit and Loss Oct- Dec 13
Ordinary Income/Expense
Income
4000 Foreclosure Revenues 30,698.85
4012 Release Revenues 50,820.00
4022 Miscellaneous Revenues/Fees 4,376.93
4300 Interest Revenues 1,951.91
Total Income 87,847.69
6300 Cost of Foreclosures 9,329.91
6302 Cost of Releases 0.00
Total Cost 9,329.91
Gross Profit 78,517.78
Expense
6200 Charges for Service 1,292.50
5200 Personnel expenditures 76,448.60
6280 Operating and Maintenance 12,704.27
Total Expense 90,445.37
Net Ordinary Income Fourth Quarter -11,927.59
Other Income/Expense
6875 • Net Income -11,927.59
Total Other Expense 0.00
Net Other Income 0.00
SUMMARY OF ACCOUNTS
WELD COUNTY PUBLIC TRUSTEE
FOURTH QUARTER- OCTOBER TO DECEMBER 2013
OPERATING ACCOUNT
September 30, 2013 BEGINNING BALANCE $ 49,412.62
Excess cash over expenses $ (16,378.70)
December 31, 2013 ENDING BALANCE $ 33,033.92
ESCROW ACCOUNT
September 30, 2013 BEGINNING BALANCE $ 209,274.62
Excess cash over expenses $ (148,763.75)
December 31, 2013 ENDING BALANCE $ 60,510.87
SPECIAL RESERVE FUND
September 30, 2013 BEGINNING BALANCE $ 369,940.32
Excess cash over expenses $ 4,107.29
December 31, 2013 ENDING BALANCE $ 374,047.61
*Reserve (2012 Operating Exp.) $417,494.00
4th Quarter 2013 Interest earned on Reserve $ 1,798.21
*Adjusted to reflect Audit
WELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
Fourth Quarter Report of Receipts & Expenditures
October to December 2013
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 etfu y submitted,
c `
Vela quez Publiciustee
STATE OF COLORADO )
COUNTY OF WELD )
This instrument was acknowledged before me this 80 day of January 2014 by y Susie
Velasquez as the Public Trustee for the County of Weld, State of Colorado.
Witness my hand and seal
?` �QSOTAa No ary Public
7o My Commission Expires 04/20/2015
-•# pUSLIC
Acknowledgement
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