Home Documents Bookkeeper's Report 2020-02-05 Bookkeeper’s Report

2020-02-05 Bookkeeper’s Report

Bookkeeper Comments to Website

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

Today’s Update: February 05, 2020

  1. General Fund Bank Balances – $28,204.66 is in the primary general operating account. The district has paid Denton 1A through December. $202,656.11is in the M&O tax account. $832.84 is in Capital Improvement Reserves.
  2. Total Investments – $476,608.44
  3. Operating Activity:
    a. Checks written at this time –
    i   Director per diems (payroll) for February 2020 meeting
    ii  Denton 1A December expenses
    iii  Legal Services for January
    iv  Association of Water Board Directors Annual Dues
  4. General Fund – other bank accounts – 2 special bank accounts all established for specific purposes
    a. M & O Tax Collections
    i Property tax receipts – January $183,201.86
    ii Recommend investing $100,000 to TexPool Investment Fund
    iii Transferring $100,000 to GF Operating account from M&O Account
    b. Capital Reserves – $832.77 in checking. $51,822.93 in a 1-year CD with Central Bank.
  5. Debt Service Fund
    a. December Activity
    i  Property Tax Receipts – December $674,038.16
  6. Property Taxes
    a. The District tax rate for Tax Year 2019: 0.63
    b. You are 90.42% collected as of January 31, 2019. Taxes are delinquent as of January 31st.
    c. January is the 4th month of your 2019 Tax Year.
  7. Utility Billings –
    a. Last updated as of December 2019
  8. Accounting Reports
    a. Budget vs. Actual Analysis
    i  This report is for 3 months of your current fiscal year.
    ii Income
    1  Utility Revenue is over budget by 9%,
    2  Total Revenue is over budget at 141%
    iii Overall expenses are over budget at 109%.
    iv Denton 1A expenses are 1% under budget.
    v  The district currently has 4.6 months cash in reserves.
© Denton County Fresh Water Supply District 1B