Home Documents Bookkeeper's Report 2018-03-07 Bookkeeper’s Report

2018-03-07 Bookkeeper’s Report

2018_03 Website update _Den 1B

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

Today’s Update: March 7, 2018

  1. General Fund Bank Balances – $3,920 is in the primary general operating account. The district has paid Denton 1A through January. $985,182 in the M&O tax account. $50,770 in the Capital Improvement Reserves – $48,422 of this is in a 1 year CD. Recommend redeeming this CD and opening up a new 1 year CD with Central Bank at 1.25%.
  2. Operating Activity:
    a. Checks written at this time –
    i    Director per diems (payroll) for March 7th mtg.
    ii   Legal services, accounting services.
    iii  Denton 1A for January expenses.
    iv   AWBD – conference fee for Enayat.
  3. General Fund – other bank accounts – 2 special bank accounts all established for specific purposes
    a. M & O Tax Collections
    i    Transferring $50,000 to operating bank acct
    ii   Transferred $400,000 to Tex Pool in February
    b. Capital Reserves – $2,348.30 in checking. $48,422.49 in a 1 year CD with Plains Capital Bank.
  4. Debt Service Fund
    a. $645,470.34 debt service property taxes collected in January.
    b. Collection Fund balance $ 1,615128.17 as of January 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.
  5. Property Taxes
    a. The District tax rate for Tax Year 2017: .69. Down from .7425 last year.
    b. 98.36% as of February 28th. Taxes are delinquent as of January 31st.
  6. Utility Billings –
    a. Last updated as of January 2018.
    b. Water usage is normal for this time of year.
  7. Accounting Reports
    a. Monthly Revenues & Expenses.
    b. Budget vs. Actual
    i This report is for 4 months of your current fiscal year.
    1 Income is over budget due to tax collections – I budged for some collections to come in February
    ii Overall expenses are right on target with budget.
    iii Denton 1A expenses are also right on target.
    iv The district currently has 10 months cash in reserves.
© Denton County Fresh Water Supply District 1B