5.2 ERMUSR 02-13-2024 - Laserfiche WebLink

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4r,;.Z, Elk Riv Municipal Utilities UTILITIES COMMISSION MEETING TO: FROM: ERMU Commission Melissa Karpinski — Finance Manager MEETING DATE: AGENDA ITEM NUMBER: February 13, 2024 5.2 SUBJECT: 2023 Fourth Quarter Delinquent Items ACTION REQUESTED: Approve the 2023 fourth quarter delinquent items submitted. BACKGROUND: Fourth quarter delinquent items are presented for your review. We have previously reported on four different categories of delinquents as follows: • Assessments are delays in collecting the money owed, which is assessed to the property taxes in the fall. Please note this number will only be presented in the fourth quarter. • Collections amounts are those we send to the collection agency to try and collect after we have exhausted all our internal collection efforts. We receive 70% of amounts collected after the agency receives their split. • Revenue Recapture (RR) is the program through the state where funds are collected from individuals' tax refunds and remitted to us, with the balance (if any) remitted to the individual. It presents an opportunity to collect funds rather than splitting with a collection agency or having to write them off completely. There is a six -year limit for keeping items on RR and if uncollected at this time, amounts are removed and written off. • Write Offs are amounts removed from the books with no further collection efforts being extended. DISCUSSION: I have for review recap comparisons with last year, identifying the categories and amounts for each quarter and the running totals. Regarding the year end totals: • The amounts listed for assessments culminate in the fourth quarter and include items previously submitted to other collection services, and if not collected, are removed and assessed. The assessment amount for 2023 is $10,994.99. This is around average compared to the last few years. • The amounts submitted only to Collection Agencies for 2023 is $985.14. (Please note that amounts submitted to Revenue Recapture were also submitted to Collection Agencies.) Page 1of2 115