Standard operating procedure. SOP 9.0 Debt management

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1 Standard operating procedure SOP 9.0 Debt management Published date: Availability: Purpose: Owner: Category: Internal only To detail the procedure for the Regulator s management of debt recovery. Executive General Manager of Corporate Services Debt management Sub-category: Contact: Manager of Finance and Procurement Section The electronic version published on the intranet is the current standard operating procedure. V1.0 21/06/2013 SOP 9.0 Debt management 1 P age

2 Contents Introduction... 3 Scope... 4 Standard operating procedure... 4 Legislative framework... 8 Related policies and references... 8 Chief Executive Instructions... 8 Policies... 8 Standard operating procedures... 8 Other references... 9 Consultation... 9 Endorsement... 9 Approval... 9 Version control Appendix A: BPM 9.0 Debt management Appendix B: Reminder letter template Appendix C: Demand letter template Appendix D: Costing template Appendix E: Minute template V1.0 21/06/2013 SOP 9.0 Debt management 2 P age

3 Summary of main points This standard operating procedure details the general process adopted and used by the Regulator to manage its debt recovery function. This standard operating procedure applies to Central Debt Management (CDM), Finance and Procurement Section, Legal Services Section (Legal) and business areas. Introduction In debt management, amounts owing to the Commonwealth should immediately be paid in full when they become due for payment. However, in certain circumstances it may be appropriate to defer the time for payment, allow payment by instalments or waive the amount owing to the Commonwealth. Section 34 of the Financial Management and Accountability Act 1997 (FMA Act) provides the Finance Minister with the power to make such decisions. These powers have been delegated under the FMA delegations. This standard operating procedure (SOP) is an overarching debt management SOP which incorporates relevant authority under the FMA Act, Chief Executive Instructions and the P9 Debt Management policy. This SOP branches out into the respective SOP for each debt management option including: SOP 9.1 Debt management carbon price shortfall charge SOP 9.1a Debt management shortfall charge SOP 9.2 Request for deferral SOP 9.3 Request for instalment arrangement SOP 9.4 Debt waiver SOP 9.5 Remitting a debt, and SOP 9.6 Employee debts. V1.0 21/06/2013 SOP 9.0 Debt management 3 P age

4 Scope This SOP is an overarching SOP for debt management. It serves as a starting point for officials of the Regulator who are responsible for managing debt, from raising an invoice to escalating a debt matter for legal advice. This SOP sets out the general process to be followed in managing a debt, but the circumstances surrounding each debt will be different and a situation may arise which does not fit neatly within this procedure. If you are unsure about the next step to take, please contact CDM or Legal. Standard operating procedure There are several debt management options that may come into play at any point during the debt management process. These options include deferring payment, allowing payment by instalments, waiving a debt or remitting a debt, and are described in the following SOPs: SOP 9.2 Request for deferral SOP 9.3 Request for instalment arrangement SOP 9.4 Debt waiver, and SOP 9.5 Remitting a debt. Person/position/team Responsibility Debtor 1. Action payment of debt. 2. Dispute debt. The debtor can dispute the debt with the business area at any point during the process if they believe the debt is not valid or incorrect. Ample opportunity is provided throughout the debt management process for the debtor to dispute the debt before penalties are incurred. Business area 1. Raise and issue invoice. An officer should raise and issue the invoice for revenue which relates to their area. Request the Finance and Procurement Section raise the invoice if the business area does not have access to do so. The relevant revenue nominals from the Chart of Accounts are detailed in Appendix A: BPM 9.0 Debt management. 2. Run an aged debtors report and liaise with the debtor via phone and letter. V1.0 21/06/2013 SOP 9.0 Debt management 4 P age

5 An officer should run an aged debtors report each fortnight or more frequently if required. The debtor may dispute a debt at any point. This will require a debt file to be prepared and passed over to CDM. 3. Identify debts that are 15 days outstanding and request payment from the debtor by phone. Debts that are five days outstanding should be followed up immediately if they are deemed to be high value or high risk to the Regulator (refer to P9 Debt management policy for definitions of high value and high risk debts). Document the key points from each phone call with the debtor in a file note. This is important as it will form part of the debt file which CDM and Legal may require. Prepare and send out a 15 day reminder letter using the template at Appendix B: Reminder letter template. 4. Identify debts that are 30 days outstanding and request payment from the debtor by phone. Advise the debtor that a 30 day reminder letter will be sent following the phone call regardless of whether or not payment is being paid soon. Document the key points from each phone call with the debtor in a file note. Prepare and send out a 30 day reminder letter using the template at Appendix B: Reminder letter template. 5. Identify debts that are 60 days outstanding and request payment from the debtor by phone. Advise the debtor that a 60 day demand letter will be sent following the phone call regardless of whether or not payment is being paid soon. Document the key points from each phone call with the debtor in a file note. Prepare and send out a 60 day letter of demand using the template at Appendix C: Letter of demand template. Liaise with Legal before preparing the letter of demand. 6. Identify debts that are 90 days outstanding and request payment from the debtor by phone. Advise the debtor that the matter is being passed to CDM and may lead to legal action. V1.0 21/06/2013 SOP 9.0 Debt management 5 P age

6 7. Prepare the debt file. In accordance with the Regulator s Record management policy, the debt file should be stored in an official records management system. Where this is not available, the debt file should be printed to be included in a TRIM-managed hardcopy file. The debt file should be prepared and escalated to CDM within the 90 days outstanding period at the latest. If the debt is deemed to be high value or high risk, the project officer should prepare a debt file and escalate to CDM within the 30 days outstanding period. The debt file should include evidence of the debt, the invoice, letters sent to debtor, details of phone calls, confirmation of the debtor's contact details and sign-off to pass the file to CDM. The project officer should also notify Legal at this point. Central Debt Management (CDM) 1. Receive request from the business area to continue debt recovery management. Respond to the business area indicating acceptance of the handover. Record the debt case on a CDM debt register. 2. Review the debt file. The debt manager should oversee and administrate all debt matters referred to CDM. The handover point from the business area is the point at which the debt file is passed over to CDM. 3. Assess whether the debt is economic to recover. Where the costs of recovery exceed the value of the debt, it is not economical to recover the debt. Refer to Appendix D: Costing template. If the debt is not economical to recover, proceed to write-off at step Identify any set-off, third party recovery or remission options. There may be provisions you can apply to set-off or remit all or part of a debt. The Regulator has a power to demand payment from a third party which owes or may later owe money to the debtor, but only in relation to the particular debts under the Renewable Energy Target scheme. Refer to Appendix A: BPM 9.0 Debt management for applicable legislative references. V1.0 21/06/2013 SOP 9.0 Debt management 6 P age

7 5. Prepare recommendation for legal action. Update the debt file and prepare a minute for the Chief Financial Officer (CFO) seeking approval to obtain advice from Legal or engage a debt collector. Refer to Appendix E: Minute template or Appendix F: Engage debt collector. If the CFO approves, provide the updated debt file and signed CFO minute to Legal and/or engage a debt collector. If the CFO declines, continue to the next step. 6. Continue to follow up the debt. Request payment by phone again and continue to follow up with debtor. Document the key points from each phone call with the debtor in a file note. Reconsider whether recovery of the debt is economical. 7. Obtain CFO approval for write-off. If a debt appears to be not economic to recover, prepare a minute for the CFO to seek approval for writing off the debt. Refer to Appendix E: Minute template. 8. Process the write-off entry in TechOne (FMIS). Legal 1. Provide legal assessment and advice on debt recovery options. 2. Liaise with CDM and external legal providers as appropriate. Consider debt recovery litigation options as per the P9 Debt management policy. Prepare relevant documentation for any external legal providers who will be engaged. This documentation should include the updated debt file received from CDM and a request for advice on the appropriate legal action. V1.0 21/06/2013 SOP 9.0 Debt management 7 P age

8 Legislative framework Reference Clean Energy Act 2011 Financial Management and Accountability Act 1997 Financial Management and Accountability (Finance Minister to Chief Executives) Delegation Australian National Registry of Emissions Units Act 2011 Renewable Energy (Electricity) Act 2000 Carbon Credits (Carbon Farming Initiative) Act 2011 Corporations Act 2001 Section or regulation Refer to Appendix A Refer to Appendix A Refer to Appendix A Refer to Appendix A Refer to Appendix A Refer to Appendix A Refer to Appendix A Related policies and references Chief Executive Instructions CEI 9.0 Managing debt CEI 9.1 Recovery of debts CEI 9.2 Non-recovery (write-off) of debts CEI 9.3 Waiving debts CEI 9.4 Payment by instalments or deferral of the time for payment Policies P9 Debt management policy CER Records management policy Standard operating procedures SOP 9.1 Debt management carbon price shortfall charge SOP 9.1.a Debt management shortfall charge SOP 9.2 Request for deferral SOP 9.3 Request for instalment arrangement V1.0 21/06/2013 SOP 9.0 Debt management 8 P age

9 SOP 9.4 Debt waiver SOP 9.5 Remitting a debt SOP 9.6 Employee debts Other references CER Approach to debt recovery (Legal) Consultation Internal stakeholders: External stakeholders: Finance and Procurement Section Legal Services Section Renewable Energy Target Liability Section Liability Management Operations Section Carbon Farming Initiative Section Nil Endorsement Endorsed on: By: /07/2013 Robert Ford Financial Accountant Corporate Services Division Signature: Approval Approved on: /07/2013 By: Chris Payne Financial Controller Corporate Services Division Signature: Period of effect: June 2013 June 2015 V1.0 21/06/2013 SOP 9.0 Debt management 9 P age

10 Review date: June 2015 Version control Version Date Author Approver 1.0 /07/2013 Scott O Donnell Chris Payne V1.0 21/06/2013 SOP 9.0 Debt management 10 P age

11 Appendix A: BPM 9.0 Debt management Clean Energy Regulator BPM 9.0 Debt management CER Legislative Revenue Recognition points Renewable energy shortfall charge (23780) Carbon units charges (23910) Carbon price refunds (23920) Shortfall charge Interim (23930) Shortfall charge Final (23940) LRR1 LRR2 LRR3 LRR4 LRR5 Debtor Credit note Invoice Statement of account 30 day period 15 day reminder letter 30 day reminder letter No Start Raise & issue invoice Aged debtors report run by the Debt manager fortnightly High value debt or high risk? Yes Business area Identify debts that are 15 days outstanding Request payment by phone & make file note Provide to Comms for upload to the Regulator s website LR14 Publish unpaid shortfall and unpaid penalty information if applicable Request payment by phone & make file note Identify debts that are 30 days outstanding CDM Legal Notified by of high value or high risk debt Consider serving a Prepare Creditors statutory recommendation for demand for payment legal action and/or engage debt collector LR28 Minute for CFO Approval to escalate? Yes LR15 Consider remission of whole or part of amount payable refer BPM 9.5 Legislative Recognition Points LRR1. RE-Elec s.37 & 38AC LRR2. CE s.100(1),(3)to(7), s.111(1),(2),(5)&(6) LRR3. CE s.132, 140, 216 ANREU s.66k CC-CFI s.183 RE-Elec s.50, 95 & 98 LRR4. CE s.125(1)to(7), 133(1)to(5), 134A(1)to(4) LRR5. CE s.128(1)to(5), 133(1)to(5), 134A(1)to(4) LRR6. CE s.129(1)to(4), 131(1) LRR7. CE s.212(1),(2),(3),(5)&(6) ANREU s.66f(1),(2),(4)&(6) CC-CFI s.179(1)to(3) LRR9. CE s.135(1), 213(1) ANREU s.66g LRR10. No references identified LRR11. Need to determine Revenue head & sub heads LRR12. Need to determine Revenue head & sub heads Clean Energy Act 2011: LR13 s.135(1) Late payment penalty s.213(1) Late payment penalty (compliance with relinquishment requirements under s.212) LR14 s.204 Information about unpaid administrative penalties LR15 s.130 Remission of unit shortfall charge imposed on estimation error unit shortfall s.134a Remission of unit shortfall charge voluntary disclosure by liable entity of incorrect emissions number s.135(2) Power to remit late payment penalty s.213(2) Power to remit late payment penalty LR16 s.137 Set-off s.215 Set-off Estimation error shortfall LRR6 charge (23950) Non-relinquishment LRR7 penalty (23960) Penalty interest (23980) LRR9 Assistance unit cancellation revenue LRR10 (23990) 60 day period 60 day letter of demand 90 day period Identify debts that are 60 days outstanding Liaise with Legal before issuing letter of demand & make file note Identify debts that are 90 days outstanding Request payment by phone & make file note Prepare debt file Request payment by phone & make file note Debt file should include: - evidence of the debt - invoice - letter of demand - details of phone call made to debtor - confirmed contact details of debtor - signed off to pass to CDM Finalise debt file Review debt file LR27 No Identify any recovery from 3rd party LR16 Identify any set-off Yes Continue to follow up Is the debt economic to recover? Legal assessment & advice as requested End FMA Act: LR17 LR18 LR19 LR20 LR21 LR22 LR16 s.34(1)(a) Waive the Commonwealth s right to payment of an amount owing to the Commonwealth. s.34(1)(b) postpone any right of the Commonwealth to be paid a debt in priority to another debt or debts. s.34(1)(c) Allow payment by instalments of an amount owing to the Commonwealth. s.34(1)(d) Defer the time for payment of an amount owing to the Commonwealth. s.47(1) Write off debts to the Commonwealth as authorised by an Act, or which are deemed not legally recoverable or considered uneconomical to pursue. s.47(3) A waiver may be made either unconditionally or on the condition that a person agrees to pay an amount to the Commonwealth in specified circumstances. s.35 Set-off Penalty units LRR11 Revenue sub head Revenue sub head Fees LRR12 Revenue sub head Revenue sub head Note 1: At any point during the process above, the management of a debt may lead into one of the debt management options. Note 2: Debt may be disputed at any point. This will require the preparation of a debt file and pass over to CDM. Note 3: Penalty interest can be applied. Refer to LR13, LR25 & LR26. Debt management options BPM 9.2 Request for deferral BPM 9.4 Debt waiver LR17 LR24 LR20 LR29 LR23 LR19 BPM 9.3 Payment by instalment arrangement BPM 9.5 Remitting a debt LR15 No Prepare minute for CFO approval Minute for write-off Obtain CFO approval for write-off LR21 Process write-off entry FMA Del: LR23 LR24 ANREU: LR25 LR15 LR16 RE-Elec: LR29 LR26 LR15 LR14 LR27 CC-CFI: LR15 LR16 Part 12 Payment by instalments Part 13 Deferring the time for payment s.66g Late payment penalty (compliance with relinquishment requirements under s.66f) s.66g(2) Power to remit late payment penalty s.66j Set-off s.69 Extension of time for payment s.70 Penalty for unpaid renewable energy shortfall charge or unpaid penalty charge (interest) s.103 Remit penalty charge s.134 Regulator may publish certain information s Recovery from a third party s.180(2) Power to remit late payment penalty s.182 Set-off LR22 Process by which the Regulator manages debt recovery End Policy References P9 Debt Management Corporations Act 2001: LR28 s.459e Creditor may serve statutory demand on company Acronyms LRR Legislative Revenue Recognition point FMIS Financial Management Information System CDM Central Debt Management V1.0 21/06/2013 SOP 9.0 Debt management 11 P age

12 Appendix B: Reminder letter template Mr/Ms/Miss Insert Name Insert Position Insert Company Insert Street Address Insert Suburb Insert State Insert Postcode 14 March 2014 File No: Insert file number Reminder letter for overdue amount payable RE: Unpaid invoice # {Enter invoice reference} Dear Insert Name, The above invoice for ${enter amount} has recently become overdue for payment. As such, we would appreciate you making this payment as soon as possible. If there is an error on our part and payment has been made, please contact me immediately so that the matter can be rectified. We note that the letter confirms that Debtor Name is liable to charges under the Insert relevant Act (the Act). In accordance with sections Insert relevant sections of the Act, the charges were payable on. Further, and in accordance with section Insert section of the Act, interest is payable on the outstanding amounts. At present, the amounts outstanding and the interest payable by you are: Charge type Amount Charges specified in Tax Invoice xxxxxx $ Interest specified in Tax Invoice xxxxxx calculated to 30 June 2013 $ Interest rate 11.62% p.a. to 30 March 2013; 11.37% p.a. to 30 June 2013 Interest specified in Tax Invoice xxxxxx calculated to 31 July 2013 $ Interest rate % % p.a. Interest specified in Tax Invoice xxxxxx calculated to 31 August 2013 $ Interest rate % % p.a. Interest specified in Tax Invoice xxxxxx calculated to 30 September 2013 $ Interest rate % % p.a. Outstanding liability as at $ GPO 621 Canberra ACT 2601 T E W

13 Interest is accruing on the charges at the current rate of $ per day until (A new interest rate will apply from Insert date). If you wish to discuss the possibility of instalment or other arrangements, you must contact Insert business area contact on Phone number or via within seven days of the date of this letter. Yours sincerely Insert name Executive General Manager Insert division Clean Energy Regulator V1.0 21/06/2013 SOP 9.0 Debt management 13 P age

14 Appendix C: Letter of demand template File No: Insert file number Letter of demand Mr/Ms/Miss Insert Name Insert Position Insert Company Insert Street Address Insert Suburb Insert State Insert Postcode 14 March 2014 Dear Insert Name, We refer to our correspondence to you on [insert date]. We also note [your response of xxxx date/ that you did not respond]. We note that Debtor Name remains liable to pay [use relevant term from legislation eg unit shortfall charge] under the Insert relevant Act (the Act). The details of each [unit shortfall charge etc] are set out in Attachment A. In accordance with sections Insert relevant sections of the Act, the charges were payable on. Further, and in accordance with section Insert section of the Act, interest is payable on the outstanding amounts. At present, the amounts outstanding and the interest payable by you are: Charge type Amount Charges specified in Tax Invoice xxxxxx $ Interest specified in Tax Invoice xxxxxx calculated to 30 June 2013 $ Interest rate 11.62% p.a. to 30 March 2013; 11.37% p.a. to 30 June 2013 Interest specified in Tax Invoice xxxxxx calculated to 31 July 2013 $ Interest rate % % p.a. Interest specified in Tax Invoice xxxxxx calculated to 31 August 2013 $ Interest rate % % p.a. Interest specified in Tax Invoice xxxxxx calculated to 30 September 2013 $ Interest rate % % p.a. Outstanding liability as at $ GPO 621 Canberra ACT 2601 T E W

15 Interest is accruing on the charges at the current rate of $ per day until (A new interest rate will apply from Insert date). We demand payment of the outstanding liability, being $ Amount + $x per day interest/penalty for each day from tomorrow onwards within Number of[usually 7 or 14] days from the date of this letter. Note that you will need to calculate the interest/penalty payable up to and including the day we receive payment. Please contact us if you need to confirm the amount on the day you make payment. If you do not comply with this demand, the Clean Energy Regulator may commence legal proceedings to recover the debt. This letter may be used as evidence or in support of those legal proceedings. If you wish to discuss the contents of this letter, you must contact Insert business area contact on Phone number or via within 7 days of the date of this letter. Yours sincerely Insert name Executive General Manager Insert division Clean Energy Regulator V1.0 21/06/2013 SOP 9.0 Debt management 15 P age

16 Appendix D: Costing template Assessment of whether recovery of a debt is economical Business area staff time and resources $ xxx Central Debt Management staff time and resources $ xxx Legal area staff time and resources $ xxx Total cost of recovery of debt $ xxx Value of debt $ xxx Surplus/(Deficit) $xxx/($xxx) Recovery of a debt is economical if the value of debt exceeds the total cost of recovery of debt, ie surplus. V1.0 21/06/2013 SOP 9.0 Debt management 16 P age

17 Appendix E: Minute template Minute Attention: Insert name Executive General Manager / Chief Financial Officer Subject: Date: From: Insert name Director - Finance and Procurement Section Background Debtor name Amount payable Supporting evidence for recommendations Recommendations < xxx > V1.0 21/06/2013 SOP 9.0 Debt management 17 P age

18 Sign-off I agree to the final recommendation above: Insert name Executive General Manager / Chief Financial Officer Corporate Services GPO 621 Canberra ACT 2601 T E W

19 Appendix F: Engage debt collector Customer Name Customer Number Address Other contact details Reference number Amount Description Request to refer customer to debt collection agency tick Have you sought advice from Legal section Payment is overdue by 90 days or more Attempts have been made to contact customer and recover payments Supporting documents attached Letter of Demand sent Comments Requested By Supported By Name Position Date Signature Name Position Date Signature Endorsed by Approved By Name Position Date Signature Name Position Date Signature GPO 621 Canberra ACT 2601 T E W

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