Denton County FWSD 1-B
Bookkeeper’s comments for website
Today’s Update: February 06, 2019
- 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.
- 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.
- 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.
- 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.
- 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.
- Utility Billings –
a. Last updated as of December 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 3 months of your current fiscal year.
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.