Denton County FWSD 1-B
Bookkeeper’s comments for website
Today’s Update: June 13, 2018
- 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.
- 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.
- 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.
- 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.
- 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.
- Utility Billings –
a. Last updated as of April 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 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.