Accounts Receivable Aging Report - Quarter 2 Financial Update (2017) (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 $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 | 36 | Niagara Recycling End Market Sale. Company in financial difficulty, monthly payment plan starting January 2017. | Collection to continue |
| City of St. Catharines | 517 | Project cost sharing for Wellandvale Forcemain. Region's project manager is reviewing details of billing with the City staff. | 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 | 620 | 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 has a Letter of Credit (LOC) in the amount of $472 related to the receivable for one site and the other two sites now have active tax increment grants starting in 2017 for 2016 tax year. | Pending TIG agreements |
| Senior Resident | 43 | Resident still active. Many attempts have been made to the family to collect. On-going efforts to mitigate risk. | Collection to continue |
| 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 |
| $ 1,705 | |||
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