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Indian River County, Florida Department of Utility Services Board Memorandum Date: February 10, 2021 To: Jason E. Brown, County Administrator From: Vincent Burke, PE, Director of Utility Services Prepared By: Cindy.Corrente, Utility Finance Manager Subject:. Utility Accounts Receivable Bad Debt Background: On October 20, 2020, the Indian River County Department of Utility Services (IRCDUS) made a presentation to the Board of County Commissioners (BCC) regarding past -due balances related to various types of utility accounts. Staff received direction from the BCC and was asked to bring back an update that included a minor modification to staff recommendation along with the proposed Code modifications. Analysis:. At the time of the previous BCC presentation, there were 295 past due accounts that had charges over twenty-four months old. Since the presentation, some accounts have been paid off while others have lapsed into the twenty-four month and older category. There are now 333 accounts that have charges over twenty-four months old. Presently, 159 of the 333 accounts are water and sewer accounts. There are now 15 expired impact fee loans. Expired impact fee loans are those that were not paid in full prior to the expiration of their original five-year term. Despite nine of the original 150 assessment liens being paid in full since the previous presentation, there are now 159 expired assessment accounts. Expired assessment accounts are those that remain unpaid after their original ten-year term. The table below reflects the updated numbers: Account Type, Number of Accounts Total Outstanding Debt Principleor Service Availability ,Penalties & Interest Water & Sewer 159 $2,092,000 $590,000 $1,502,000 Impact Fee Loans 15 $ 140,000 $ 57,000 $ 83,000 Assessments 159 $ 649,000 $281,000 $ 367,000 Totals 333 $2,881,000 $928,000 $1,953,000 43