4.8. BAD DEBT EXPENSE

4.8.1. The determination of an allowance for doubtful accounts will be formulated after careful examination of pre-identified non-collectable accounts.

4.9. ADDING DEBTS TO TAXES

4.10. NETTING

4.10.1. Payables can only be netted to outstanding receivables in instances where the payables relate specifically to the outstanding debt. The entity that is being netted must also be the same legal entity that originated the debt.

4.11. LEGAL CLAIMS

4.11.1. All claims over the Small Claims Court limit must be forwarded to the City Solicitor to commence legal action.

5. REPORTING

5.1. WRITE-OFF REPORTING

As required, but at a minimum once per year, the Deputy Treasurer Taxation and Financial Projects shall provide the CFO/City Treasurer and/or CAO with a recommended list of write-offs. The CFO/City Treasurer shall report to City Council to request approval for all non-collectable accounts receivable write-offs over $150,000.

5.2.

DELINQUENCY REPORTING

Once per month a delinquency analysis is performed by the Corporate Collections Analyst or designate and provided to the Manager of Treasury and Cash Management outlining details of the aged trial balance position.

6. RECORDS

6.1. All accounts receivable collection records, reports, manual and electronic files must be retained and filed in accordance with the City’s “Schedule of Retention Periods for Records By-Law”.

7. REFERENCES AND RELATED DOCUMENTS