Denton County FWSD 1-B
Bookkeeper’s comments for website
Today’s Update: May 17, 2018
- 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.
- 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.
- 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.
- 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
- 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.
- Utility Billings –
a. Last updated as of March 2018.
b. Water usage is normal for this time of year.
- 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.