3.2.2. Approve the initiation of legal proceedings for the purposes of collection for accounts receivable up to $150,000, where considered appropriate.
3.2.3. Approve AR adjustment of amounts in excess of $10,000 up to $150,000 per invoice.
3.3. The Chief Financial Officer (CFO)/City Treasurer or designate is responsible to:
3.3.1. Approve all non-collectable accounts receivable write-offs up to $10,000 plus any related interest or penalties on a per account basis.
3.3.2. Approve AR adjustment of amounts up to $10,000 per invoice.
3.3.3. Submit non-collectable accounts receivable write-off request report to Council or the CAO in accordance with the guidelines established herein.
3.3.4. Direct the review of this policy, at a minimum every five (5) years, or sooner if required and recommend updates as necessary.
3.3.5. Recommend the selection of a registered collection agency as required.
3.4. The Deputy Treasurer Taxation and Financial Projects (DTTFP) or designate is responsible for/to:
3.4.1. Overall policy management of the collections area & providing the CFO/City Treasurer with an annual non-collectable accounts receivable write-off request.
3.4.2. Approve the daily cheque log and related bank deposit for all cheque payments.
3.5. The Manager of Treasury and Cash Management or Manager of Accounting Services as needed is responsible to:
3.5.1. Daily management of the accounts receivable collections area and staff.
3.5.2. Identify and recommend to the Deputy Treasurer Taxation and Financial Projects those accounts to be written-off.
3.5.3. Approve the AR adjustment of amounts up to and including $250.00 per invoice.
3.5.4. Approve the financial accounting of account adjustments taking into consideration the appropriate authority as provided for under this policy.
3.5.5. Undertake the transfer of accounts receivable to third-party collection agencies, paralegal services, or other third party services as they relate to the collection of the account receivables subject to appropriate authority as provided for under this policy.
3.5.6. Facilitate reports to City Council and/or the Chief Administrative Officer for all internal requests to begin legal action for the recovery of accounts receivable.
3.5.7. On an annual basis, prepare an analysis of outstanding accounts receivable and develop an appropriate estimate for the allowance for doubtful accounts.
3.6. The Corporate Collections Analyst is responsible to:
3.6.1. Actively collect all accounts receivable over $50,000 plus others as required.
3.6.2. Where necessary review and recommend all adjustments, third party transfers, legal transfer requests and non-collectable accounts receivables.
3.6.3. Ensure all account transfers and adjustments are controlled via properly authorized documentation and back up.
3.7. The Tax and Accounts Receivable Collector is responsible to:
3.7.1. Prepare a daily cheque log and related bank deposit for all cheque payments mailed to and received at City Hall Finance.
3.2.2. Approve the initiation of legal proceedings for the purposes of collection for accounts receivable up to $150,000, where considered appropriate.
3.2.3. Approve AR adjustment of amounts in excess of $10,000 up to $150,000 per invoice.
Council Agenda - May 4, 2020