5.2 ERMUSR 08-10-2021 - Laserfiche WebLink

Home Browse Search

______________________________________________________________________________ Page 2 of 2 • The amounts submitted to Revenue Recapture were less than the prior year. The Q2 2021 RR amount is $3,802.55. We have collected a total of $1,841.70 from RR in Q2 2021. • Write Offs for Q2 2021 of $1,559.69 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 $1,230.48 from RR in Q2 2021. The attached report listing shows those dollars submitted to both the Collection Agency and RR. The second quarter totals are $3,802.55. To break these totals down by provider, it is $2,694.10 for Electric, $310.15 for Sewer, $289.14 for Franchise Fees, $220.56 for Water, $208.10 for Trash and $80.50 for Storm Water. The amount for second quarter Write-Offs is $1,559.69 which includes: amounts removed from RR meeting the six-year limit with the state program of $1,230.48, bankruptcy of $275.35 and small balances of $53.86. 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 .016%. ATTACHMENTS: • 2021 Second Quarter Delinquent Items Comparison • 2021 Second Quarter Delinquent Items Submitted 78