City of Oak Creek

Common Council Report

Meeting Date:  12/5/06

Item No.:        

Recommendation:  That the Common Council authorize the publication and write-off of the attached list of delinquent personal property tax per City policy.

Background:  A Policy has been established by resolution for the handling of delinquent personal property taxes.  As part of this policy, the delinquent amount due for all taxing districts, including interest and penalty, is published in the City’s official newspaper.  Also, to provide an accurate reflection of the City’s financial position, at this same time the City’s share of delinquent tax from the preceding year is written-off the City’s books.  The remaining delinquent tax is proportionately charged back to all the other taxing districts.

Attached is a list of 2004 and 2005 delinquent personal property tax to be approved for publication in the City’s official newspaper.  The list of 2004 delinquent personal property tax also indicates those delinquent accounts for which the likelihood of collection appears remote, to be approved for removal from the City’s general account; however, collection efforts may continue.    

Fiscal Impact:  Improve the accuracy of the City’s financial position and enhance budgeting procedures by the timely and efficient collection of monies due to the City.

Prepared by: Barbara A Guckenberger City Treasurer	Respectfully submitted, Patrick DeGrave City Administrator
Fiscal Review by: Beverly A. Buretta, CMC City Clerk