5.3 ERMUSR 05-10-2022 - Laserfiche WebLink

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The amounts submitted to Revenue Recapture were more thanthe prior year. The Q1 2022 RR amount is $6,446.46. We have collected a total of $6,749.22 from RR in Q1 2022. Write Offs for Q1 2022 of $1,405.27 which is slightly more 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 $1,093.40 from RR in Q1 2022. However, that still leaves us $5,655.82 ahead with the $6,749.22 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 $6,446.46. To break these totals down by provider, it is $5,469.71 for Electric, $433.01 for Franchise Fees, $189.47 for Sewer, $161.36 for Trash, $120.15 for Water and $72.76 for Storm Water. The amount for first quarter Write-Offs is $1,405.27 which includes: small balances of $31.93, amounts removed from RR meeting the six-year limit with the state program of $1,093.40and other write-offs of $279.94. 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 (2020) the industry standard is between .22% and .98%. Interestingly, the Northern/Central Plains average is .22%. Our totals for the year are below the national average, at .015%. ATTACHMENTS: 2022 First Quarter Delinquent Items Comparison 22 First Quarter Delinquent Items Submitted 20 ______________________________________________________________________________ Page 2 of 2 89