Number
R_12788
Version
Original
Reference
Sponsor
The Chair
Title
Resolution approving the write-off of delinquent former resident accounts for Berryland, Northlawn and Southlawn Housing Authority Developments for the period October 1, 2015 to December 31, 2015 in the amount of $34,988.13
Analysis
Body
WHEREAS, the Housing Authority of the City of Milwaukee manages
approximately 968 market-rate units; and
WHEREAS, there are 22 accounts for residents that moved between October 1, 2015 to December 31, 2015 that have outstanding balances totaling $34,988.13 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 22 accounts to the Department of Revenue’s to attempt tax refund interception; now therefore, be it
RESOLVED, by the Housing Authority that the 22 accounts totaling $34,988.13 be written off as uncollectible; 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 $34,988.13.
Requestor
Drafter
Tyanne HIcks, Accounting Section
6/2/2016