to effectively implement them. The changes made throughout both policies are generally considered to be minor and housekeeping in nature.
The current Corporate Accounts Receivable Billing Policy was previously adopted by City Council at the meeting on November 19, 2012 (M487-2012).
This policy has been renamed “Corporate Accounts Receivable Policy” (Appendix A). Significant changes are as follows:
Section 5.1.9 – To assist in timely collection of funds for works performed and completed by the City, it is important that external customers be billed as soon as possible upon service completion. This section now includes additional requirements and guidelines to ensure billing takes place in a timely manner.
Section 5.3. Accounts Receivable Invoice Amount – To facilitate collection of funds and timely recording of revenue, Administration proposed that the minimum amount to be invoiced for products or services should be $100.00 (including tax). Whenever possible, amounts due under one hundred ($100) dollars for products or services should be paid in advance and/or collected at the point of service.
Section 5.4.4. - There are a wide range of options for the payment of goods and services that external customers find it convenient or comfortable to use (e.g. Paypal). To safeguard the City’s interests and to facilitate recording of revenue into the City’s financial system, this section identifies payment options acceptable to the City of Windsor.
The current Trade Receivable Collections Policy was previously adopted by City Council at the meeting on January 21, 2013 (M20-2013).
This policy has been renamed “Accounts Receivable (AR) Collections Policy” (Appendix B). Additional responsibilities have been assigned to City Council (Section 3.1.3), Chief Administrative Officer (Section 3.2.3), Chief Financial Officer/City Treasurer (Section 3.3.2) and Manager of Treasury and Cash Management or Manager of Accounting Services (Section 3.5.3) requiring the approval of accounts receivable adjustments.
Further, additional responsibilities have been included under Section 3.3.5, which now requires that the Chief Financial Officer/City Treasurer recommend the selection of a registered collection agency, as required.
Section 4.4. outlines collection activities on returned cheques/items. It also includes administrative fees per cheque/item as prescribed in the City’s User Fee Schedule.