Bkkp Comments to Website
Denton County FWSD 1-B
Bookkeeper’s comments for website
Today’s Update: March 04, 2020
- General Fund Bank Balances – $30,539.96 is in the primary general operating account. The district has paid Denton 1A through January. $98,459.71 is in the M&O tax account. $832.91 is in Capital Improvement Reserves.
- Total Investments – $629,795.75
- Operating Activity:
a. Checks written at this time –
i Director per diems (payroll) for March 2020 meeting
ii Denton 1A January expenses
iii Legal Services for February
iv Auditing for FYE 2019
v Translation Services for Order Calling Election
- General Fund – other bank accounts – 2 special bank accounts all established for specific purposes
a. M & O Tax Collections
i Property tax receipts – February $95,794.29
ii Transferring $60,000 to GF Operating account from M&O Account
iii Recommend investing $38,000 in TexPool Investment Fund
b. Capital Reserves – $832.91 in checking. $51,932.96 in a 1-year CD with Central Bank.
i Recommend redeeming CB CD maturing March 22, 2020.
- Debt Service Fund
a. January Activity
i Property Tax Receipts – January $448,809.22
- Property Taxes
a. The District tax rate for Tax Year 2019: 0.63
b. You are 99.04% collected as of February 29, 2020. Taxes are delinquent as of January 31st.
c. February is the 5th month of your 2019 Tax Year.
- Utility Billings –
a. Last updated as of January 2020
- Accounting Reports
a. Budget vs. Actual Analysis
i This report is for 4 months of your current fiscal year.
1 Utility Revenue is on target
2 Total Revenue is slightly under budget at 96%
iii Overall expenses are over budget at 105%.
iv Denton 1A expenses are 1% under budget.
v The district currently has 4.6 months cash in reserves.