Posted: November 22, 2024
Rapid City
Agenda Item Summary

Agenda Item Ref. #: PW112624-07

Agenda Item Title:

Approve Resolution No. 2024-099 A Resolution Writing Off Credit Balance Utility Billing Accounts

Origination Group:
Public Works Committee
Origination Meeting Date:
11/26/2024
City Council Hearing Date:
12/02/2024
Staff Contact:
Connie Namanny
Agenda Item Summary:
Credit balances sometimes occur from overpayment, or a final bill that is less than the deposit on the account. Customer credit balances become unclaimed property if there’s no activity with the customer for a long time. We attempt to get a hold of customers to issue refunds for credit balances but often don't have updated contact information on closed accounts. In accordance with Generally Accepted Accounting Practices, we write-off balances that are unused past the statute of limitation allowed by state laws. In South Dakota, that time limit is six years.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center
Enterprise Fund

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