It is recommended that Council resolve to write off the various sundry debts $237, as described in this report.
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1 5.4 DEBT WRITE OFF (All Wards) (Financial Services) KEY ISSUES The purpose of this report is to submit for Council approval to write off, seventeen sundry debts totalling $237, Administrative attempts to recover the monies have not succeeded and further recovery is not cost effective. It is recommended that Council resolve to write off the various sundry debts $237, as described in this report. BACKGROUND This report provides details of non-rates debts which are recommended for Regular reporting of bad debts is intended to encourage sound governance over collection of monies. Section 6.39(2) of the Local Government Act 1995 provides that a local government is required "from time to time" to amend a debtor record for the current financial year to ensure that the information contained in the record is current and correct. The subsection also provides that a local government "may amend the debtor record for the 5 years preceding the current financial year". City s Delegation of Authority Register requires all debts in excess of $500 can only be written off by resolution of Council. REPORT 1. Seventeen debts totalling $237, Details of each debtor have been sent to Councillors under a separate cover $127, Debt originated on during 2007/2008. Company became insolvent. Organisation under new management and no money will be received $1, Debt originated in August Debt collection process has been followed. No money received. Page 1
2 $5, Debt originated in September Debt has No money received $1, Debt originated in November Debt has $ Original debt dated Feb Debt recovery $ Original debt dated Feb Debt recovery $1, Original debt dated Apr Debt recovery $4, Original debt dated May Debt recovery $ Debt originated in May Debt collection process has been followed. No money received $5, Debt originated in September Debt has $1, Debt originated in November Debt has $5, Debt originated in January Debt has been referred to Fines Enforcement Register and Debt collection process has been followed. Recommend Page 2
3 $2, Debt originated in January Recommend $1, Original debt dated Nov Referred to Dunn and Bradstreet. No money received. Recommend $1, Original debt dated Nov Referred to Dunn and Bradstreet. No money received. Recommend $ Original debt dated Mar Company gone into liquidation $75, Original Debt Mar Debt has been referred to Fines Enforcement Register and Debt collection process has been followed. Declared bankrupt. ATTACHMENTS STRATEGIC IMPLICATIONS STATUTORY ENVIRONMENT FINANCIAL IMPLICATIONS The amounts being written off will have little impact on the budget. The practice of regularly reporting such matters and obtaining Council approval for debt write off enables sound corporate governance. If these amounts are recovered in the future then they will be recorded as income at that time. Page 3
4 RECOMMENDATION That the Council resolve to: 1) Write off the various sundry debtors which combine to $237, as described in this report. CARRIED Page 4
5 Page 5
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