5.3 ERMUSR 05-11-2021 - Laserfiche WebLink

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______________________________________________________________________________ Page 2 of 2 • The amounts submitted to Revenue Recapture were less than the prior year. The Q1 2021 RR amount is $2,600.71. We have collected a total of $5,875.40 from RR in Q1 2021. • Write Offs for Q1 2021 are $1,362.30 which is less 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 $873.21 from RR in Q1 2021. However, that still leaves us $5,002.19 ahead with the $5,875.40 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 $2,600.71. To break these totals down by provider, it is $2,170.94 for Electric, $287.30 for Franchise Fees, $49.73 for Trash, $45.45 for Water, $25.95 for Sewer and $21.34 for Storm Water. The amount for first quarter Write-Offs is $1,362.30 which includes: small balances of $54.47, amounts removed from RR meeting the six-year limit with the state program of $873.21 and other write-offs of $434.62. 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 (2019), the industry standard is between .12% and .54%. Interestingly, the Northern/Central Plains average is .22%. Our totals for the year are below the national average, at .015%. ATTACHMENTS: • 2021 First Quarter Delinquent Items Comparison • 2021 First Quarter Delinquent Items Submitted 242