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24 months, or were close to exceeding it. A summary of the original 333 accounts is listed in the table <br />below. <br />Of the original 333 accounts, 159 were water, sewer accounts, 15 were expired impact fee loans, and <br />159 were expired assessment accounts. <br />Account Type <br />Number of <br />Accounts <br />Total <br />Outstanding <br />Debt <br />Principle or <br />Service <br />Availability <br />Penalties & <br />Interest <br />Water & Sewer <br />159 <br />$2,092,000 <br />$590,000 <br />$1,502,000 <br />Impact Fee Loans <br />15 <br />$ 140,000 <br />$ 57,000 <br />$ 83,000 <br />Assessments <br />159 <br />$ 649,000 <br />$281,000 <br />$ 368,000 <br />Totals <br />333 <br />$2,881,000 <br />$928,000 <br />$1,953,000 <br />The next table represents the settlements that were made between March 15, 2021, and June 14, 2021. <br />Account Type <br />Number of <br />Accounts Settled <br />Total Cash Collected <br />Total Penalties & <br />Interest Waived <br />Water & Sewer <br />48 <br />$120,751.14 <br />$483,239.40 <br />Impact Fee Loans <br />5 <br />$ 22,353.66 <br />$ 19,491.63 <br />Assessments <br />54 <br />$127,663.08 <br />$ 79,776.73 <br />Totals <br />107 <br />$270,767.88 <br />$582,507.76 <br />The last table represents payment arrangements. These owners have until May 2022 to complete their <br />agreements. Of the 22 account holders, nine have kept their agreements through September. Reminder <br />calls are made monthly to those not keeping their agreements. All owners in this group have until <br />May 22, 2022, to complete their agreements. Any customers who do not complete their agreements will <br />be added to the potential foreclosure group. <br />Account Type <br />Number of <br />Agreements <br />Water & Sewer <br />13 <br />Impact Fee Loans <br />0 <br />Assessments <br />9 <br />Totals <br />22 <br />There are a few items required in order to complete the initial phase of the Accounts Receivable <br />collections project. First, the total penalties and interest that were waived will need to be recorded as <br />Bad Debt Expense. Second, since the Fiscal Year 20/21 budget for the Indian River County Department of <br />Utility Services (IRCDUS) did not include funding for the bad debt, a budget amendment will be required <br />to cover the expense. Third, staff will work with the County Attorney's office to process any potential <br />foreclosures. Due to the number of potential foreclosures, staff will be seeking permission to seek <br />outside counsel, if needed, to assist with these foreclosures. It is noted that the foreclosure process will <br />include another attempt to settle with the owners. <br />The second and final phase of the project will be to report all of the same steps for the 22 owners shown <br />currently to have payment arrangements to settle their debt. These steps cannot take place until after <br />the May 22, 2022, deadline. <br />175 <br />Page 2 of 3 <br />