Home Documents Bookkeeper's Report 2018-05-17 Bookkeeper’s Report

2018-05-17 Bookkeeper’s Report

2018_05 Website update _Den 1B

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

Today’s Update: May 17, 2018

  1. General Fund Bank Balances – $5,879 is in the primary general operating account. The district has paid Denton 1A through March. $868,940 in the M&O tax account. $50,831 in the Capital Improvement Reserves – $50,000 of this is in a 1 year CD.
  2. Operating Activity:
    a. Checks written at this time –
    i    Director per diems (payroll) for May 2nd and May 16th meetings. Additional per diem checks for April 18th meeting.
    ii   Legal services, accounting services.
    iii  Denton 1A for February & March expenses.
    iv  Denton 1A for fye 2017 true up
    v   McCall Gibson Swedlund Barfoot – final billing on audit.
    vi  Patrick Kelly – website security reimbursement.
  3. General Fund – other bank accounts – 2 special bank accounts all established for specific purposes
    a. M & O Tax Collections
    i    Redeeming $84,000 from Tex Pool.
    ii   $82,166.65 property tax receipts in March & April.
    iii  Transferring $200,000 to operating bank acct.
    b. Capital Reserves – $831.38 in checking. $50,000 in a 1 year CD with Central Bank.
  4. Debt Service Fund
    a. $238,461.71 debt service property taxes collected in February & March.
    b. Collection Fund balance $ 1,621,377.72 as of March 31st.
    c. Two Reserve funds of $900,990 for Series 1998 and $437,835.50 for Series 2015 Refunding to be held until final bond payments issued.
    d. Paid March 1st debt svc pmts
  5. Property Taxes
    a. The District tax rate for Tax Year 2017: .69. Down from .7425 last year.
    b. 99.54% as of April 30th. Taxes are delinquent as of January 31st.
  6. Utility Billings –
    a. Last updated as of March 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 6 months of your current fiscal year.
    1 Income is on target with budget.
    ii Overall expenses are $15,000 over budget, with $11,000 of this being due to 1A exp.
    iii The district currently has 9 months expenses in cash reserves.
© Denton County Fresh Water Supply District 1B