Home Documents Bookkeeper's Report 2018-02-07 Bookkeeper’s Report

2018-02-07 Bookkeeper’s Report

2018_02 Website update _Den 1B

Denton County FWSD 1-B
Bookkeeper’s comments for website

Today’s Update: February 7, 2018

  1. General Fund Bank Balances – $4,060 is in the primary general operating account. The district has paid Denton 1A through December expenses. $1,034,355 in the M&O tax account. $50,770 in the Capital Improvement Reserves – $48,422 of this is in a 1 year CD.
  2. Operating Activity:
    a. Checks written at this time – Director per diems (payroll) for February 7th mtg; Amish to attend AWBD conference.
    b. Quarterly payroll taxes.
    c. Legal services, accounting services.
    d. Denton 1A for November & December expenses.
    e. McCall Gibson Swedlund Barfoot – partial billing ofr 9.30.17 audit.
  3. General Fund – other bank accounts – 2 special bank accounts all established for specific purposes
    a. M & O Tax Collections – $426,000 collected in December & January.
  4. Capital Reserves – $2,348.16 in checking. $48,422.49 in a 1 year CD with Plains Capital Bank.
  5. Debt Service Fund
    a. Debt service payment made on September 1st.
    b. Collection Fund balance $ 974,411.94 as of December 31st.
    c. Two Reserve funds of $902,000 for Series 1998 and $458,000 for Series 2015 Refunding to be held until final bond payments issued.
  6. Property Taxes
    a. The District tax rate for Tax Year 2017: .69. Down from .7425 last year.
    b. 89.28% as of January 31st. Taxes are delinquent after this date.
  7. Utility Billings –
    a. Last updated as of December 2017.
    b. Water usage is normal for this time of year.
  8. Accounting Reports
    a. Monthly Revenues & Expenses.
    b. Budget vs. Actual
    i This report is for 3 months of your current fiscal year.
    ii Income is over budget due to
    1 December tax collections
    2 Water revenue
    iii Overall expenses are 6% over budget.
    1 Appraisal dist fees – $9200 to be reimbursed from Debt Service Fund.
    2 Denton 1A expenses are 4% over budget.
    iv The district currently has 10 months cash in reserves.
© Denton County Fresh Water Supply District 1B