5.2 ERMUSR 08-08-2023 - Laserfiche WebLink

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______________________________________________________________________________ Page 2 of 2 • The amounts submitted to Revenue Recapture were less than the prior year. The Q2 2023 RR amount is $5,379.18. We have collected a total of $3,449.26 from RR in Q2 2023. • Write Offs for Q2 2023 of $22,049.08 is significantly more than the prior year. The biggest impact to the Write Offs is from the removal of old account balances due to a six-year limit mandated by the state. We have had to remove, and write off, a total of $20,438.38 in Q2 2023. The attached report listing shows those dollars submitted to both the Collection Agency and RR. The second quarter totals are $5,379.18. To break these totals down by provider, it is $4,927.18 for Electric, $285.81 for Franchise Fees, $25.24 for Sewer, $103.72 for Trash, $12.99 for Water and $24.24 for Storm Water. The amount for second quarter Write Offs is $22,049.08 which includes: amounts removed due to the six-year limit with the state of $20,438.38, bankruptcies of $1,173.65, deceased amounts of $334.39, and small balances of $102.66. 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 .11%. ATTACHMENTS: • 2023 Second Quarter Delinquent Items Comparison • 2023 Second Quarter Delinquent Items Submitted 78