City of Powder Springs - File #: RES0 22-142

• File #: RES0 22-142
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 9/8/2022
• In control: City Council
• On agenda: 9/19/2022
• Final action: 9/19/2022
• Title: A RESOLUTION APPROVING AND AUTHORIZING THE FINANCE DIRECTOR TO MERGE THE GENERAL LEDGER ACTIVITY OF UNCOLLECTED WATER AND SEWER DEBT INTO THE GENERAL FUND TO CLOSE OUT APPROXIMATELY $158,952 IN DELINQUENT ACCOUNTS; MERGING THE PROCEEDS FROM THE SALE OF THE SYSTEM INTO THE GENERAL FUND BUT RETAINED AND ACCOUNTED FOR IN A SEPARATE ACCOUNT; PROVIDING AN EFFECTIVE DATE; AND FOR OTHER PURPOSES.
• Indexes: SP - Goverance

Date	Ver.	Action By	Action	Result
9/19/2022	1	City Council	approved	Pass

Action Summary:

title

A RESOLUTION APPROVING AND AUTHORIZING THE FINANCE DIRECTOR TO MERGE THE GENERAL LEDGER ACTIVITY OF UNCOLLECTED WATER AND SEWER DEBT INTO THE GENERAL FUND TO CLOSE OUT APPROXIMATELY $158,952 IN DELINQUENT ACCOUNTS; MERGING THE PROCEEDS FROM THE SALE OF THE SYSTEM INTO THE GENERAL FUND BUT RETAINED AND ACCOUNTED FOR IN A SEPARATE ACCOUNT; PROVIDING AN EFFECTIVE DATE; AND FOR OTHER PURPOSES. 

MIT

MIT Supported - Mark All Applicable

☐MIT 1

☐MIT 2

☐MIT 3

staffnotes

Staff Notes

At the suggestion of our auditors, we are requesting to close the Water & Sewer Fund and merge the general ledger activity into the General Fund.  In doing this, we request that to close out approximately $158,951.56 in delinquent accounts.  Of this amount, $152,219.17 has already been recorded as bad debt expense over the years.  This will result in a net write off of approximately $6,732.39.  The funds that the City received for sale of the water operations will also be merged into the General Fund but will remain in a separate account and will continue to require approval of the Mayor & Council for any expenditure.