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City committee advances $75 million write-off of old uncollectible receivables
Summary
The committee moved to send a resolution to council to write off about $75 million in mostly pre-bankruptcy receivables, citing missing records and low collection prospects; officials said the action cleans up the city's balance sheet.
Detroit's Budget, Finance and Audit committee voted to send a resolution to formal session that would write off roughly $75 million in uncollectible accounts receivable, largely linked to pre-bankruptcy records and aged emergency medical service (EMS) bills.
The write-off "cleans up the balance sheet," Treasurer Nikhil Patel told the committee, calling the request the city's "second annual write off request." Patel said the request reflects items with little supporting data or low recovery prospects, including $58 million tied to pre-2013 special assessments and receivables and about $14.2 million in EMS accounts. "These are…
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