Home Documents Bookkeeper's Report 2019-01-09 Bookkeeper’s Report

2019-01-09 Bookkeeper’s Report

2019_01 Website update _Den 1B

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

Today’s Update: January 09, 2019

  1. General Fund Bank Balances – $28578.41 is in the primary general operating account. The district has paid Denton 1A through November. $825,661.58 in the M&O tax account. $51,271.25 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 January 09 meeting and 4th quarter payroll taxes.
    ii  Legal services, audit and accounting services.
    iii  Denton 1A for July, Aug, Sept, Oct, and November expenses.
    iv  Association of Waterboard Directors annual membership.
  3. General Fund – other bank accounts – 2 special bank accounts all established for specific purposes
    a. M & O Tax Collections
    i    Transferring $100,000 to TexPool.
    ii  Property tax receipts – Oct $4,884.28, Nov $190,35.81, Dec $222, 641.78
    iii  Payment to Denton Co Appraisal District – $11,988.63
    iv  Payment to Denton Record- Chronicle – 1,149.75
    v  Transferring $190,000 to operating bank acct.
    b. Capital Reserves – $831.94 in checking. $50,439.31 in a 1-year CD with Central Bank.
  4. Debt Service Fund
    a. $723,532.41 debt service property taxes collected in Oct, Nov, & Dec.
    b. Collection Fund balance $1,227,656.60as of December 31.
    c. Two Reserve funds of $904,106.97 for Series 1998 and $441,628.97 for Series 2015. Refunding to be held until final bond payments issued.
  5. Property Taxes
    a. The District tax rate for Tax Year 2018: 0.63, down from 0.69 last year.
    b. 55.37% as of December 31st. Taxes are delinquent as of January 31st.
  6. Utility Billings –
    a. Last updated as of November 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 2 months of your current fiscal year.
    ii Income
    1  Utility Revenue is under budget by 21%,
    2  Total income is over budget due to December tax collections
    iii Overall expenses are 6% over budget.
    iv  Denton 1A expenses are 7% over budget.
    v  The district currently has 7.6 months cash in reserves.
© Denton County Fresh Water Supply District 1B