5.2 ERMUSR 02-13-2024 - Laserfiche WebLink

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• The amounts submitted to Revenue Recapture were less than the prior year. The 2023 RR amount is $30,906.95. We have collected a total of $14,916.66 from RR in 2023. • Write Offs for 2023 of $30,876.42 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 $27,204.12 due to six -year statute of limitation in 2023. The attached report listing shows those dollars submitted to both the Collection Agency and RR. The fourth quarter totals are $13,318.47. To break these totals down by provider, it is $11,296.31 for Electric, $721.49 for Franchise Fees, $580.19 for Sewer, $402.27 for Water, $236.84 for Trash, and $81.37 for Storm Water. The amount for fourth quarter Write Offs is $5,222.43 which includes: amounts removed from RR meeting the six -year limit with the state program of $4,248.64, and bankruptcy of $883.04, and small balances of $90.75. 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 .06%. ATTACHMENTS: • 2023 Fourth Quarter Delinquent Items Comparison • 2023 Fourth Quarter Delinquent Items Submitted Page 2of2 116