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THE CITY OF 15 <br /> °' CITY COUNCIL AGENDA REPORT <br /> pLEASANTON. <br /> August 19, 2014 <br /> Finance <br /> TITLE: APPROVE WRITE-OFF OF UNCOLLECTIBLE ACCOUNTS RECEIVABLE IN <br /> EXCESS OF $10,000 <br /> SUMMARY <br /> On October 18, 2011, the City Council adopted a Policy for Write-Off of Uncollectible <br /> Accounts Receivable. The policy requires City Council approval for the write-off of any <br /> individual uncollectible account receivable that exceeds $10,000. Staff is <br /> recommending the write-off of one uncollectible accounts receivable that exceeds <br /> $10,000. <br /> RECOMMENDATION <br /> Staff recommends the City Council approve the 13/14FY write-off of the account <br /> receivable identified herein. <br /> FINANCIAL STATEMENT <br /> Staff has identified one uncollectible account receivable from 2010 that exceeds <br /> $10,000 and requires City Council approval in order for write-off. The recommended <br /> write-off would result in the reduction of City assets as follows: <br /> Amount <br /> Fund Reduced <br /> General Fund (Fund 001) $ 17,963.34 <br /> It should be noted that a write-off of uncollectible accounts receivable from the City's <br /> accounting records does not constitute forgiveness of the debt or a gift of public funds. <br />