IPTD-326
Interest charges on overdue bills
Description
An interest calculations was created in the original SRP Direct Billing Application. The interest calculation never functioned properly and was not turned on. The interest calculation should be re-opened and and added as an option for Assessments & Billing throughout the Department.
Problem Statement
CSR&R issues annual fees and bills for over 10,000 cases worked on in the Program. Overdue bills are subject to interest. This interest is currently not being collected.
Project Justification
Interest calculations were included in the SRP Direct Billing Build. Interest calculations were never turned on in the system. Six hundred seventy one overdue Notices were issued for a total of $2,906,250.81 in March of 2023. The lost interest could be used to fund staff in the Office of Direct Billing & Cost Recovery and provide a dis-incentive for non payment of fees and bills.
Estimated Transactions
Six hundred seventy one Overdue Notices were issued for a total of $2,906,250.81 in March of 2023.
Target Rollout Date
None
Target Rollout Date Reason
None
Activity
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