Home Documents Bookkeeper's Report 2020-03-04 Bookkeeper’s Report

2020-03-04 Bookkeeper’s Report

Bkkp Comments to Website
Denton County FWSD 1-B
Bookkeeper’s comments for website

Today’s Update: March 04, 2020

  1. 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.
  2. Total Investments – $629,795.75
  3. 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
  4. 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.
  5. Debt Service Fund
    a. January Activity
    i  Property Tax Receipts – January $448,809.22
  6. 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.
  7. Utility Billings –
    a. Last updated as of January 2020
  8. Accounting Reports
    a. Budget vs. Actual Analysis
    i  This report is for 4 months of your current fiscal year.
    ii Income
    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.
© Denton County Fresh Water Supply District 1B