|The City of Coffman Cove has adopted and actively follows the collections policy found in Title 7 of the Coffman Cove Municipal Code. Accounts more than 45 days delinquent are subject to the following collection actions: assessment of late payment fees, service charges, disconnection from water and sewer service, denial of other city services, e.g. harbor, internet, and garbage, and the account may be referred to a third party collection agency. Customers may appeal any decision resulting in a collection action to the city council at the next regular council meeting
Utility bills are mailed to customers the first week of each month using an invoice or a statement depending on whether there are multiple services being billed or any past due amounts. Payments are due on the 25th of each month and become delinquent after 45 days.
The city is currently using QuickBooks accounting software for their accounts receivable, accounts payable, and payroll.
Bank reconciliations have not been performed within the last 90 days.
The city uses a purchase order system for all purchases and maintains a cash disbursement system to track expenditures. Department heads complete purchase orders which are then submitted for approval. The city administrator and city clerk have approval authority for general purchases. Coffman Cove Municipal 4.04.050 provides that the purchase of supplies, materials, equipment, or contractual services for more than two thousand dollars requires prior approval of the city council.
The city uses a written receipt / logbook system to record incoming funds and other transactions. The person receiving the payment provides the customer with a written receipt clearly showing the amount received and the intent of the payment. The payment is recorded in a logbook so the transaction can be entered into QuickBooks at a later time. A comparison between the logbook and QuickBooks is completed at the end of each week.