Accounts Receivable Aging Report - Quarter 4 Financial Update (2016)

(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 Q4 Financial Update.

Customer NameOver 120Explanation of AccountRecommendation
Casino Niagara $ 348 2011 short payment of $126 and 2012 short payment of $222 relating to the Casino/NRPS contract. Requested for write-off at 2013 year-end. Write-off request denied by Corporate Services Committee June 4, 2014. Request for write-off denied
CG Trading 28 Niagara Recycling End Market Sale. Company in financial difficulty, monthly payment plan starting January 2017. 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 $472 related to the receivable on the portion of land at 26 Oakdale that we are permitted to start drawing down by $70 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 release which has been signed by Niagara Region's legal department. To be paid in full. Collection to continue
Senior Resident 29 Resident passed away May 2015. Arrears began in March 2013. Many attempts have been made to the family to collect. Collection efforts have been exhausted. Write-off in 2017 Q1
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 1,342 Lookout to Haist project cost sharing of $1,263. Town has been contacted to follow up on receipt of payment. Signal billing of $70 from October 2015 and chargebacks of $9 have been paid as of January 2017. Collection to continue
Page Feedback Did you find what you were looking for today?