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Board approves credit-balance cap to limit large customer prepayments
Summary
The board approved an amendment to the utility billing policy that caps customer credit balances at the customer’s 12-month average to reduce the utility’s liability after staff identified an account with more than $5,000 in credit.
The Eldridge Electric and Water Utility Board approved an amendment to the billing policy that places a cap on credit balances so that no customer may accumulate a credit greater than their 12-month average bill.
Reason: Staff said the change responds to an unusual account that had accumulated more than $5,000 in prepayments; the cap is intended to limit the utility’s liability if large credits must be refunded. Sadie (finance staff) said the policy will still show the credit on the customer bill and apply it monthly toward the billed amount, but any credit above the 12-month average would be refunded under the new provision.
Vote: Motion to approve the amended billing policy and procedures was made by Harrington and seconded by Gooding; the board approved the amendment by voice vote.
