Many utilities (rightfully so) maintain separate bank accounts for operating funds and security deposits. When you apply a customer’s security deposit and they are due a refund, are you writing two checks from your security deposit bank account? One to […]
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Recently, a colleague posted on LinkedIn about why it’s wrong to set rates by comparing what neighboring utilities charge. The blog post he wrote and referenced goes into great detail about why this isn’t a good idea. I’ve experienced similar […]
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How does your utility handle accounts for customers who have passed away? The best practice is to close the account in the name of the deceased customer and open a new account in the name of the executor or family […]
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Continuing with the theme of fraud prevention, this issue looks at another fraud case involving an easily overlooked internal control. Cheaters never win! I’m a huge Carolina Hurricanes fan and, when a player from the opposing team is charged with […]
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I recently joined another listserv and one of the recent posts inquired about security deposits, including how much other utilities charged. Periodically, I see utilities asking how much other utilities charge as a security deposit. While this may provide an […]
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I just completed a business review for a utility and calculated their Days of Exposure while I was on-site. If you’re not familiar with Days of Exposure, it’s the number of days of service a customer ends up owing for […]
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