5.3 ERMUSR 11-8-2022 - Laserfiche WebLink

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The amounts submitted to Revenue Recapture were more than the prior year. The Q3 2022 RR amount is $15,900.91. We have collected a total of $2,285.05 from RR in Q3 2022. • Write Offs for Q3 2022 of $4,364.37 are 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 $2,500.19 from RR in Q3 2022. The attached report listing shows those dollars submitted to both the Collection Agency and RR. The third quarter totals are $15,900.91. To break these totals down by provider, it is $14,812.76 for Electric, $1,034.19 for Franchise Fees, $26.50 for Sewer, $12.55 for Water, $12.34 for Storm Water, and $2.57 for Trash. The amount for third quarter Write Offs is $4,364.37 which includes: small balances of $47.60, amounts removed from RR meeting the six -year limit with the state program of $2,500.19, deceased of $1,316.83, and bankruptcy of $499.75. 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 .024%. ATTACHMENTS: • 2022 Third Quarter Delinquent Items Comparison • 2022 Third Quarter Delinquent Items Submitted Page 2 of 2 m