Home Documents Bookkeeper's Report 2018-06-13 Bookkeeper’s Report

2018-06-13 Bookkeeper’s Report

2018_06 Website update _Den 1B

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

Today’s Update: June 13, 2018

  1. General Fund Bank Balances – $2,222 is in the primary general operating account. The district has paid Denton 1A through April. $845,452 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 April 10th, May 16th and June 13th meetings.
    ii   Legal services, accounting services.
    iii  Denton 1A for April expenses.
    iv  Denton Co Elections Administrator.
  3. General Fund – other bank accounts – 2 special bank accounts all established for specific purposes
    a. M & O Tax Collections
    i    Redeeming $22,000 from Tex Pool.
    ii   $1,743.21 property tax receipts in May.
    iii  $9232.50 – reimbursement from Debt Svc accts for Denton Co Appraisal District fee paid.
    iv   Transferring $35,000 to operating bank acct.
    b. Capital Reserves – $831.45 in checking. $50,000 in a 1 year CD with Central Bank.
  4. Debt Service Fund
    a. $10,087.61 debt service property taxes collected in April & May.
    b. Collection Fund balance $ 1,631,856.63 as of May 31st.
    c. Two Reserve funds of $902,248 for Series 1998 and $438,453 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. 99.84% as of May 31st. Taxes are delinquent as of January 31st.
  6. Utility Billings –
    a. Last updated as of April 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 7 months of your current fiscal year.
    1 Income is on target with budget.
    ii Overall expenses are $12,000 over budget, with $10,000 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