HomeMy WebLinkAbout20143382.tiff OFFICE OF THE PUBLIC TRUSTEE 7« �.
WELD COUNTY, COLORADO
October 20,2014
RECEIVED
OCT 242014
Barbara Connolly,Controller WELD COUNTY
Weld County Accounting Department C MMISSIONERS
PO Box 758
Greeley,CO 80631
Dear Barb:
are the third quarter 2014 Profit&Loss statement and Summary ofAccounts along
Enclosed
with the signed and notarized acknowledgement. There are no excess funds for third quarter
2014.
Public Trustee offices throughout the state of Colorado are experiencing the same downturn in
the number of foreclosures. Foreclosures continue to decrease in Weld County as well. The
number of foreclosures processed third quarter totalled 123,a decrease of 14.5%in comparison
to the previous quarter. As shown on the Profit&Loss,the 'Net Ordinary Income Third
Quarter' is a negative$15,396.46.
According to CRS 38-37-104(3),if,in any particular quarter,the Public Trustee's operating
expenses exceed the fees collected in the quarter,the Public Trustee may draw on the special
reserve fiord to cover operating expenses for that quarter.
Please let me know if you have any questions.
S •
Public Trustee
Enclosures
Susie Velasquez,Esq.
Weld County Public Trustee
170123"Avenue,Suite 250,Greeley,CO 80634
(970)852-4365
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20143382
Weld County Public Trustee
Profit&Loss
July to September 2014
Profit and Loss July-Sept
Ordinary Income/Expense
Income
4000 Foreclosure Revenues 35,547.92
4012 Release Revenues 59,795.00
4022 Miscellaneous Revenues/Fees 3,683.61
4300 Interest Revenues 233.24
Total Income 99,259.77
6300 Cost of Foreclosures 11,887.57
6302 Cost of Releases 64.64
Total Cost 11,952.21
Gross Profit 87,307.56
Expense
6200 Charges for Service 12,055.00
5200 Personnel expenditures 79,360.56
6280 Operating and Maintenance 11,288.46
Total Expense 102,704.02
Net Ordinary Income Second Quarter -15,396.46
Other Income/Expense
6875 • Net Income -15,396.46
Total Other Expense 0.00
Net Other Income 0.00
SUMMARY OF ACCOUNTS
WELD COUNTY PUBLIC TRUSTEE
THIRD QUARTER-JULY TO SEPTEMBER 2014
OPERATING ACCOUNT
June 30, 2014 BEGINNING BALANCE 5 15,155.23
Excess cash over expenses $ 7,917.10
September 30,2014 ENDING BALANCE $ 23,072.33
ESCROW ACCOUNT
June 30,2014 BEGINNING BALANCE $ 526,830.96
Excess cash over expenses $ (407,068.62)
September 30,2014 ENDING BALANCE $ 119,762.34
SPECIAL RESERVE FUND
June 30,2014 BEGINNING BALANCE $ 377,752.20
Excess cash over expenses $ (6,905.60)
September 30, 2014 ENDING BALANCE $ 370,846.60
3rd Quarter 2014 Interest earned on Reserve $ 73.66
2013 Operating Exp. $ 421,888.45
WELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
Third Quarter Report of Receipts & Expenditures
July to September 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.
Re y submi ,
usie quez,Public Trustee
STATE OF COLORADO )
COUNTY OF WELD )
This instrument was acknowledged before me • day of October 2014 by Susie
Velasquez as the Public Trustee for the C' of d, State of Colorado.
Witness my hand and seal
JULIE COLE
NOTARY PUBLIC Notary ' bli
STATE OF COLORADO
NOTARY ID 20134016881
MY COMMISSION EXPIRES MARCH 15,2017
Acknowledgement
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