Home Documents Bookkeeper's Report 2020-08-05 Bookkeeper’s Report

2020-08-05 Bookkeeper’s Report

8.a. Bookkeeper website comments

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

Today’s Update: August 05, 2020

  1. General Fund Bank Balances – $93,730.95 is in the primary general operating account. The district has paid Denton 1A through June. There is $30,521.00 in the M&O tax account. $52,866.19 is in the Capital Improvement Reserves account.
  2. Total Investments – $321,759.56
  3. Operating Activity:
    a. Checks written at this time –
    i   Director per diems (payroll) for August 2020 meeting
    ii  Accounting services for June
    iii  Denton 1A June expenses
    iv  Legal services for July
    b. Recommendation to invest $63,000 in the TexPool Investment Fund
  4. General Fund – other bank accounts – 2 special bank accounts all established for specific purposes
    a. M & O Tax Collections
    i Property tax receipts – June $1,575.67; July $555.90
    ii Recommend investing $30,000 in the TexPool Investment Fund
    b. Capital Reserves – $52,866.19 in checking
  5. Debt Service Fund
    a. June Activity
    i  Property Tax Receipts – $3,854.86
  6. Property Taxes
    a. The District tax rate for Tax Year 2019: 0.63
    b. You are 99.77% collected as of June 30, 2020. Taxes are delinquent as of January 31st.
    c. June is the 9th month of your 2019 Tax Year.
  7. Utility Billings –
    a. Last updated as of June 2020
  8. Accounting Reports
    a. Budget vs. Actual Analysis
    i  This report is for 9 months of your current fiscal year.
    ii Income
    1  Utility Revenue is on target
    2  Total Revenue is over budget
    a Due to the reimbursement from Denton 1A for lift station
    iii Overall expenses are slightly over budget by 3%.
    iv Denton 1A expenses 6% over budget.
    v  The district currently has 3 months cash in reserves.
© Denton County Fresh Water Supply District 1B