Denton County FWSD 1-B
Bookkeeper’s comments for website
Today’s Update: May 16, 2019
- General Fund Bank Balances – $15,123.73 is in the primary general operating account. The district has paid Denton 1A through March. $(61,276.46) is in the M&O tax account. $51,693.06 is in the Capital Improvement Reserves – $50,860.85 of this is in a 1-year CD.
- Operating Activity:
a. Checks written at this time –
i Director per diems (payroll) for May 16 meeting.
ii Accounting services & off-site file storage
iii Denton 1A for March expenses.
iv Legal Services
- General Fund – other bank accounts – 2 special bank accounts all established for specific purposes
a. M & O Tax Collections
i Property tax receipts – $2,301.15 received in April
ii Transferring $70,000 to operating bank acct.
iii Payment to Denton County Tax Assessor for $362.23, for collection shortage
iv Recommendation to transfer $65,000 from TexPool
b. Capital Reserves – $832.21 in checking. $50,860.85 in a 1-year CD with Central Bank.
- Debt Service Fund
a. March Activity
i Property tax collections – $22,328.85 received in March & April combined
ii An interest pmt was made for Ser 1998 Rfdg bonds in the amt of $146,595.00
iii An interest pmt was made for Ser 2015 Rfdg bonds in the amt of $54,225.00
- Property Taxes
a. The District tax rate for Tax Year 2018: 0.63, down from 0.69 last year.
b. You are 99.35% collected as of April 30, 2019. Taxes are delinquent as of January 31st.
- Utility Billings –
a. Last updated as of March 2019.
- Accounting Reports
a. Budget vs. Actual
i This report is for 6 months of your current fiscal year.
1 Utility Revenue is under budget by 12%,
2 Total income is on target at 99%
iii Overall expenses are on target at 98%.
iv Denton 1A expenses are 1% under budget.
v The district currently has 7.0 months cash in reserves.