Number
13443
Version
Original
Reference
Sponsor
The Chair
Title
Resolution approving the fourth quarter 2022 write-off of delinquent former resident accounts for Southlawn, Northlawn and Berryland in the amount of $196,147.07
This resolution will authorize the write-off of delinquent former resident accounts for the period October 1, 2022, to December 31, 2022. Although these accounts are written-off for accounting purposes, the City Attorney’s Office obtains judgments against all tenants evicted by court action. These judgments, and all unpaid final tenant accounts, will be sent to the Department of Revenue to intercept tax returns
Analysis
Body
WHEREAS, the Housing Authority of the City of Milwaukee manages approximately 981 market-rate units; and
WHEREAS, there are 18 accounts for residents that moved between October 1, 2022 to December 31, 2022 that have outstanding balances totaling $196,147.07 per the attached “Project Level Write Off Analysis Report”; and
WHEREAS, residents have been given notice of their outstanding balance; and
WHEREAS, the Housing Authority has been advised that said debts must be considered uncollectible; and
WHEREAS, the Housing Authority would like to transfer the outstanding balance of these resident accounts from Accounts Receivable as required by Generally Accepted Accounting Principles (GAAP); and
WHEREAS, the Housing Authority will report the outstanding balance due on these 18 accounts to the Department of Revenue to attempt tax refund interception; now therefore, be it
RESOLVED, by the Housing Authority that the 10 accounts totaling $196,147.07 be written off as uncollectible, with an effective date of December 15, 2023; and, be it
FURTHER RESOLVED, that the Secretary-Executive Director authorizes the appropriate accounting staff to take action necessary to reduce the accounts receivable liability by $196,147.07.
Requestor
Drafter
Housing Management, Rick Koffarnus, Accounting, 12/6/2023