Home Documents Bookkeeper's Report 2019-02-06 Bookkeeper’s Report

2019-02-06 Bookkeeper’s Report

2019_02 Website update _Den 1B

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

Today’s Update: February 06, 2019

  1. General Fund Bank Balances – $33,521.88 is in the primary general operating account. The district has paid Denton 1A through December. $925868.35 is in the M&O tax account. $51,397.84 in the Capital Improvement Reserves – $50,565.83 of this is in a 1-year CD.
  2. Operating Activity:
    a. Checks written at this time –
    i    Director per diems (payroll) for February 06 meeting.
    ii   Accounting services.
    iii  Denton 1A for December expenses.
  3. General Fund – other bank accounts – 2 special bank accounts all established for specific purposes
    a. M & O Tax Collections
    i    Recommend transferring 96,000 to TexPool.
    ii   Property tax receipts – Dec $169,717.04
    iii  Transferring $70,000 to operating bank acct.
    b. Capital Reserves – $832.01 in checking. $50,565.83 in a 1-year CD with Central Bank.
  4. Debt Service Fund
    a. $498,362.86 debt service property taxes collected in January.
    b. Collection Fund balance $1,727,134.62 as of January 31, 2019.
    c. Two Reserve funds of $905,310.22 for Series 1998 and $442,216.74 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 December 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 3 months of your current fiscal year.
    ii Income
    1  Utility Revenue is under budget by 19%,
    2  Total income is over budget due to December tax collections
    iii Overall expenses are on target.
    iv  Denton 1A expenses are 1% over budget.
    v  The district currently has 8.3 months cash in reserves.


© Denton County Fresh Water Supply District 1B