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Elk River <br /> Il <br /> Municipal Utilities <br /> 13069 Orono Parkway <br /> P.O.Box 430 <br /> Elk River,MN 55330 <br /> (763)441-2020 <br /> UTILITIES COMMISSION MEETING <br /> TO: FROM: <br /> Elk River Municipal Utilities Commission Theresa Slominski—Finance Director <br /> John Dietz, Chair <br /> Daryl Thompson, Vice Chair <br /> Allan Nadeau, Trustee <br /> MEETING DATE: AGENDA ITEM NUMBER: <br /> July 17, 2012 5.1 <br /> SUBJECT: <br /> Second Quarter Write-offs <br /> BACKGROUND: <br /> Second quarter write-offs are presented for your review. These amounts cover items from April <br /> through June 2012 and total $41,235.52. For review, the attached report has four columns: <br /> Assessments, Collections, Revenue Recapture, and Write Offs. Assessments are delays in <br /> collecting the money owed and is assessed to the property taxes in the fall. Collections amounts <br /> are those we send to the collection agency to try and collect after we have exhausted all our <br /> internal collection efforts. Revenue Recapture is the program through the state where funds are <br /> collected from individuals' tax refunds and remitted to us, with the balance (if any)remitted to <br /> the individual. It presents an opportunity to collect funds rather than resorting to a collection <br /> agency or having to write them off completely. Write Offs are just that, they are amounts <br /> removed from the books with no further collection efforts being extended. <br /> DISCUSSION: <br /> We continue to take advantage of the Revenue Recapture (RR)program available through the <br /> state and the majority of this total has been submitted to that program, $35,392.11. Amounts <br /> submitted to RR are larger than we would typically see in quarterly writeoffs because there is so <br /> much greater potential of collecting this RR money, and collecting 100% versus a percentage. <br /> Given these advantages, we are submitting amounts sooner and using the RR as an extension of <br /> our own collection efforts. Including the amount listed above, the RR program has a total of <br /> $72,196.13 filed for claim since September of 2011, when we first started submitting past due <br /> R�- rowERE . er <br /> INAtUREI <br /> Reliable Public <br /> Power Provider P O W E R E D To S E R V E <br />