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10/22/2024 (2)
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10/22/2024 (2)
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1/13/2025 9:44:40 AM
Creation date
1/13/2025 9:35:17 AM
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Meetings
Meeting Type
BCC Regular Meeting
Document Type
Agenda Packet
Meeting Date
10/22/2024
Meeting Body
Board of County Commissioners
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Status <br />Number <br />of <br />Account <br />s <br />Accounts <br />Receivable <br />Balance <br />Settlement/ <br />Foreclosure <br />Proceeds Received <br />Service <br />Charges & <br />Fees Waived <br />Total Penalties <br />& Interest <br />Waived <br />Settled & Completed <br />7 <br />$276,856.29 <br />$160,458.03 <br />Settled & Making Payments <br />3 <br />$47,000.00 <br />$134,008.52 <br />Completed Foreclosure Sale <br />By Utilities <br />1 <br />$3,979.19 <br />By Other County Dept <br />1 <br />$9,324.88 <br />$28,009.60 <br />In Foreclosure Process <br />21 <br />$891,655.63 <br />All Other 120 Days Delq <br />213 <br />$863,990.00 <br />In summary, IRCDUS is requesting $160,458.03 of waived penalties and interest on completed <br />settlement agreements be written off as bad debt. <br />Funding: <br />Funds in the total amount of $160,458.03 to cover the expenses for the fiscal year 2024 bad debt write- <br />off will come from the Utilities/Cust Svc/Bad Debt-Water/Sewer account, number 47126536-036510, in <br />the amount of $160,458.03, which is in the IRCDUS operating fund. IRCDUS operating funds are derived <br />from water and sewer sales. <br />Account Name <br />Account Number <br />Amount <br />Utilities/Cult Svc/Bad Debt-Water/Sewer <br />1 47126536-036510 <br />$160,458.03 <br />Recommendation: <br />Staff recommend the Board of County Commissioners authorize staff to classify as bad debt expense the <br />$160,458.03 in penalties and interest that were waived. <br />Attachment: <br />None <br />107 <br />Page 2 of 2 <br />
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