5.2 ERMUSR 05-09-2023 - Laserfiche WebLink

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The amounts submitted to Revenue Recapture were more than the prior year. The Q1 2023 RR amount is $7,160.11. We have collected a total of $7,179.17 from RR in Q1 2023. Write Offs for Q1 2023 of $1,961.37 are more than the prior year. Normally 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. This quarter we had to write off $1,504.09 for a commercial account due to bankruptcy. We had to remove, and write off, a total of $400.87 from RR in Q1 2023 due to the six -year limit. However, that still leaves us $6,778.30 ahead with the $7,179.17 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 $7,680.11. To break these totals down by provider, it is $6,663.80 for Electric, $542.31 for Franchise Fees, $171.43 for Trash, $142.03 for Sewer, $120.57 for Water, and $39.97 for Storm Water. The amount for first quarter Write Offs is $1,961.37 which includes: small balances of $56.41, bankruptcy of $1,504.09, and amounts removed from RR meeting the six -year limit with the state program of $400.87. Our allowance for doubtful accounts (a reserve for bad debt/write offs) is $25,605 or .05% uncollectible accounts per revenue dollar. According to the American Public Power Association's most recent published standard ratios (2021) the industry standard is between .15% and 1.49%. Interestingly, the Northern/Central Plains average is .15%. Our totals for the year are below the national average, at .02%. ATTACHMENTS: • 2023 First Quarter Delinquent Items Comparison • 2023 First Quarter Delinquent Items Submitted Page 2of2 m