Item No. 8.5

Council Report: C 50/2020

Subject: Update to Corporate Accounts Receivable Policy &

Accounts Receivable Collections Policy

Reference:

• Date to Council: May 4, 2020
• Author: Stephen Cipkar
• Manager of Financial Accounting
• scipkar@citywindsor.ca
• 519-255-6100 ext. 6234
• Financial Accounting
• Report Date: 3/17/2020
• Clerk’s File #: AF2020

To: Mayor and Members of City Council

Recommendation:

THAT City Council APPROVE the updated Corporate Accounts Receivable Policy, attached as Appendix A to this report; and,

THAT City Council APPROVE the updated Accounts Receivable (AR) Collections Policy, attached as Appendix B to this report; and,

THAT Administration BE DIRECTED to amend the related Procedures and Forms as necessary, to facilitate compliance with the amended policy.

Executive Summary:

Background:

The attached Finance policies are existing policies that have been previously adopted by City Council. As part of the continued effort to improve financial controls and decrease risk, a review of each policy was undertaken, and administration has identified areas where practices can be streamlined for efficiency and language clarified to facilitate compliance.

Discussion:

Both policies have been updated and formatted to reflect organizational and position title changes and had language added or revised to ensure additional clarity for staff