Number
R-12964
Version
Original
Reference
Sponsor
The Chair
Title
Resolution approving the write-off of delinquent former resident accounts for various low rent public housing developments in the amount of $48,282.02
Analysis
Body
WHEREAS, the Housing Authority of the City of Milwaukee manages
approximately 3168 public housing units; and
WHEREAS, there are 17 accounts for residents that moved between October 1, 2017 to December 31, 2017 that have outstanding balances totaling $48,282.02 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 17 accounts to the Department of Revenue’s to attempt tax refund interception; now therefore, be it
RESOLVED, by the Housing Authority that the 17 accounts totaling $48,282.02 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 $42,282.02.
Requestor
Drafter
Accounting Department