5.2 ERMUSR 08-09-2022 - Laserfiche WebLink

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______________________________________________________________________________ Page 2 of 2 • The amounts submitted to Revenue Recapture were more than the prior year. The Q2 2022 RR amount is $7,547.92. We have collected a total of $3,348.77 from RR in Q2 2022. • Write Offs for Q2 2022 of $2,402.70 which is 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 $2,368.54 from RR in Q2 2022. However, that still leaves us $980.23 ahead with the $3,348.77 we have collected this quarter through RR. The attached report listing shows those dollars submitted to both the Collection Agency and RR. The second quarter totals are $7,547.92. To break these totals down by provider, it is $5,857.13 for Electric, $565.32 for Franchise Fees, $449.79 for Sewer, $348.08 for Trash, $244.85 for Water and $82.75 for Storm Water. The amount for second quarter Write Offs is $2,402.70 which includes: small balances of $34.16 and amounts removed from RR meeting the six-year limit with the state program of $2,368.54. 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 .018%. ATTACHMENTS: • 2022 Second Quarter Delinquent Items Comparison • 2022 Second Quarter Delinquent Items Submitted 77