Home Documents Bookkeeper's Report 2020-01-08 Bookkeeper’s Report

2020-01-08 Bookkeeper’s Report

2020_01.08 Website Update_D1B

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

Today’s Update: January 08, 2020

  1. 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.
  2. Total Investments – $428,071.66
  3. 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
  4. 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.
  5. Debt Service Fund
    a. October & November Activity
    i  Property Tax Receipts – Oct – $13,900.02; Nov – $82,495.47
  6. 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.
  7. Utility Billings –
    a. Last updated as of November 2019
  8. Accounting Reports
    a. Budget vs. Actual Analysis
    i  This report is for 2 months of your current fiscal year.
    ii Income
    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.
© Denton County Fresh Water Supply District 1B