Home Documents Bookkeeper's Report 2019-05-16 Bookkeeper’s Report

2019-05-16 Bookkeeper’s Report

2019_05 Website update _Den 1B

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

Today’s Update: May 16, 2019

  1. 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.
  2. 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
  3. 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.
  4. 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
  5. 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.
  6. Utility Billings –
    a. Last updated as of March 2019.
  7. Accounting Reports
    a. Budget vs. Actual
    i This report is for 6 months of your current fiscal year.
    ii Income
    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.
© Denton County Fresh Water Supply District 1B