Q3 Accounts Receivable Aging Report
(in thousands of dollars)
The accounts receivable aging report reflects all unpaid accounts greater than 120 days and greater than $25. Listing does not include outstanding invoices at quarter-end where payments have been received prior to finalization of the Q2 Financial Update.
| Customer Name | Over 120 | Explanation of Account | Recommendation |
|---|---|---|---|
| Casino Niagara | $ 348 | 2011 short payment of $125,684 and 2012 short payment of $222,061 relating to the Casino/NRPS contract. Requested for write-off at 2013 year-end. Write-off request was denied by Corporate Services Committee on June 4, 2014. | Request for write-off denied |
| CG Trading | 28 | Niagara Recycling End Market Sale. Invoices initially not received by customer. To be paid in full. | Collection to continue |
| Constellation Brands | 92 | Sewer Surcharge. Invoices initially not received by customer. To be paid in full. | Collection to continue |
| Hitachi Capital Canada Corp | 70 | Motor Vehicle Accident. Insurance company required further breakdown of charges before releasing payment. Breakdown has been sent from the Niagara Region. To be paid in full. | Collection to continue |
| Keefer Developments | 45 | Landfill disposal fees from 2002, 2003, 2004 & 2005 to be offset against the TIG. Niagara Region and the developer have signed an agreement and the offset will continue annually until 2018. | Collection to continue annually until 2018 |
| Merritton Mills Redevelopment Corp | 1,055 | 2007 Landfill tipping fees related to three redevelopment sites. Niagara Region will offset these with the Tax Increment Grants (TIG) as the agreements between the City of St. Catharines and the developer are signed. The Niagara Region now has a Letter of Credit (LOC) from Meridian in the amount of $471,814 related to the receivable on the portion of land at 26 Oakdale that we are permitted to start drawing down by $70,000 per year starting on the third anniversary (June 20, 2019) of the LOC until amount fully paid if we don’t start collecting on the TIG first. | Pending TIG agreements |
| Motor Vehicle Accident | 80 | Insurance company sent the release which has been signed by Niagara Region's legal department. To be paid in full. | Collection to continue |
| Senior Resident | 29 | Insurance company sent the release which has been signed by Niagara Region's legal department. To be paid in full. | To be considered for write-off in Q1 report |
| Senior Resident | 27 | Resident still active. Many attempts have been made to the family to collect. On-going efforts to mitigate risk. | Collection to continue |
| Town of Pelham | 70 | Signal Billing from Oct 2015. Town has been contacted to follow up on receipt of payment. | Collection to continue |
| Toronto 2015 Pan Am/Parapan Am | 28 | Short payment on a billing from 2015. Police following up to determine when payment can be expected. | Collection to continue |
| $ 1,873 | |||
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