Denton County FWSD 1-B
Bookkeeper’s comments for website
Today’s Update: January 08, 2020
- General Fund Bank Balances – $22,028.38 is in the primary general operating account. The district has paid Denton 1A through November. $119,433.93 is in the M&O tax account. $832.77 is in Capital Improvement Reserves.
- Total Investments – $428,071.66
- Operating Activity:
a. Checks written at this time –
i Director per diems (payroll) for January 2020 meeting
ii Fourth Quarter Payroll Liabilities
iii Accounting services for November & December Services
iv Denton 1A for September, October & November expenses
v Legal Services for November & December services
vi Audit Services for FY 2019 Audit – Interim Billing
- General Fund – other bank accounts – 2 special bank accounts all established for specific purposes
a. M & O Tax Collections
i Property tax receipts – Oct – $5,436.35; Nov – 33,692.72; Dec-$274,323.76
ii Recommend transferring $100,000 to TexPool Investment Fund
iii Transferring $200,000 to GF Operating account from M&O Account
b. Capital Reserves – $832.77 in checking. $51,713.13 in a 1-year CD with Central Bank.
- Debt Service Fund
a. October & November Activity
i Property Tax Receipts – Oct – $13,900.02; Nov – $82,495.47
- Property Taxes
a. The District tax rate for Tax Year 2019: 0.63
b. You are 57.90% collected as of December 31 2019. Taxes are delinquent as of January 31st.
c. December is the 3rd month of your 2019 Tax Year.
- Utility Billings –
a. Last updated as of November 2019
- Accounting Reports
a. Budget vs. Actual Analysis
i This report is for 2 months of your current fiscal year.
1 Utility Revenue is over budget by 11%,
2 Total Revenue is over budget at 114%
iii Overall expenses are over budget at 108%.
iv Denton 1A expenses are 1% over budget.
v The district currently has 4.7 months cash in reserves.