Whenever town councils decide to take a fresh look at policies they have in place, one of the things they might look at is utility receivables. Upon closer look, if utility receivables are inflated due to security deposits on accounts, a revamp of security deposit requirements may be considered. The Federal Trade Commission (FTC) along with various state agencies set specific guidelines for utility billing operations, including the management of security deposits. Remember to research these guidelines prior to making final decisions regarding changes to security deposit policies.
Ways to Protect Loss of Receivables in Utility Billing
Require a Security Deposit, and/or Letter of Guarantee. Read more >
When it comes to paydays and money availability, there is no such thing as a “typical” utility customer. Some customers receive their entire month’s income all at one time. Some are paid weekly. Others may rely on regular, but random paydays throughout the month. The best a utility can do is time bills consistently so the customer can anticipate, and budget, for their billings. Customers appreciate their services being reliable, and on a reliable billing schedule.
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