Title
Resolution to Adjust Accounts Receivable for Uncollectible Accounts
Body
LEGISLATIVE INTENT/PURPOSE:
WHEREAS, collection efforts to date have been unsuccessful for various reasons on miscellaneous fee accounts totaling $158,414.52, and for 889 stormwater and recycling and trash services (RTS) accounts totaling $97,066.21; and,
WHEREAS, the City’s miscellaneous uncollectible accounts are categorized per account type and uncollectible reason as follows:
[SEE ATTACHMENT A 1ST TABLE]
WHEREAS, for stormwater and RTS, the totals written off by year of the last activity on the accounts or by bankruptcy are as follows, and include CFPUA’S JUN 2023 & DEC 2023 write offs:
[SEE ATTACHMENT A 2ND TABLE]
WHEREAS, the intent is to adjust the City’s financial records in accordance with Generally Accepted Accounting Principles (“GAAP”,) to accurately reflect accounts receivable balances that have reasonable assurance of collection.
THEREFORE, BE IT RESOLVED:
THAT, City Council approves the write off amount of $255,480.73 in delinquent uncollectible accounts, as listed on the attached schedules.
THAT, the removal of these accounts from the City’s accounts receivable does not constitute forgiveness of the debt.