LEGISLATIVE ACTION ITEM
SPONSOR: Grover C. Robinson, IV, Mayor
SUBJECT:
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WRITE-OFF OF UNCOLLECTIBLE ACCOUNTS RECEIVABLE
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RECOMMENDATION:
recommendation
That City Council approve the write-off of the uncollectible account of former Airport Concessionaire, Departure Media Inc., in the amount of $7,756.16.
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HEARING REQUIRED: No Hearing Required
SUMMARY:
The Airport entered into an Airport Terminal Complex Advertising Concession Agreement with Departure Media, Inc. on December 14, 2012. For the period of January 2018, terminal advertising fees remain unpaid. Multiple attempts to collect the outstanding balance were made. The Airport is now requesting permission to write-off the customer’s balance. The City’s Financial Planning and Administration policy provides that all non-utility accounts receivable in amounts in excess of $1,000, and in which a lien has not been filed, be submitted to City Council for approval before being written off.
PRIOR ACTION:
None
FUNDING:
N/A
FINANCIAL IMPACT:
Departure Media Inc. owed $7,756.16 in advertising fees for the month of January 2018. This amount was recorded as a bad debt expense in FY 2018. There is no financial impact in FY 2020.
CITY ATTORNEY REVIEW: Yes
10/9/2020
STAFF CONTACT:
Keith Wilkins, City Administrator
Richard Barker, Jr., Deputy City Administrator - Administration & Enterprise
Matthew F. Coughlin, Airport Director
ATTACHMENTS:
1) Accounts Receivable Customer Aging Summary Report as of 10/05/2020
PRESENTATION: No end