5.2 ERMUSR 5-12-2020 - Laserfiche WebLink

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The amounts submitted to Revenue Recapture were less thanthe prior year. The Q1 2020 RR amount is $2,707.86. We have collected a total of $8,315.08from RR in Q1 2020. Write Offs for Q1 2020 were $5,537.23, which is higher than the prior year. The biggest impact to the Write-Offs is due to the removal of items from the RR program due to a six-year limit mandated by the state. We have had to remove, and write-off, a total of $5,529.14 from RR in Q1 2020. However, that still leaves us $2,785.85 ahead with the $8,315.08 we have collected this quarter through RR. The attached report listing shows those dollars submitted to both the Collection Agency and RR. The first quarter totals are $2,707.86. To break these totals down by service, it is $2,445.57 for Electric, $190.00 for Franchise Fees, $50.95 for Trash, and $21.34 for Storm Water. The amount for first quarter Write-Offs is $5,537.23 which includes: small balances of $8.09, amounts removed from RR meeting the six-year limit with the state program of $5,272.24, and other write-offs of $256.90. Our allowance for doubtful accounts (a reserve for bad debt/write-offs) is $25,605, or .06% uncollectible accounts per revenue dollar. According to the American Public Power Association’s most recent published standard ratios (2017), the industry standard is between .17% and .40%. Interestingly, the Northern/Central Plains average is .18%. Our totals for the year are below the national average at .029%. ATTACHMENTS: 2020 First Quarter Delinquent Items Comparison 2020 First Quarter Delinquent Items Submitted ______________________________________________________________________________ Page 2 of 2 137