Denton County FWSD 1-B
Bookkeeper’s comments for website
Today’s Update: August 05, 2020
- 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.
- Total Investments – $321,759.56
- 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
- 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
- Debt Service Fund
a. June Activity
i Property Tax Receipts – $3,854.86
- 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.
- Utility Billings –
a. Last updated as of June 2020
- Accounting Reports
a. Budget vs. Actual Analysis
i This report is for 9 months of your current fiscal year.
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.