Ill. Admin. Code tit. 74, § 320.70 - Accounting for Bad Debts and Uncollectible Claims
a) For claims or accounts receivable of
$1,000 or more, a State agency shall request the Attorney General to certify
the account or claim as uncollectible pursuant to the standards established in
Section 2 of "AN ACT in relation to uncollected claims and accounts receivable
of the State agencies" (Ill. Rev. Stat. 1985, ch. 15, par. 102).
b) Claims or accounts receivable of less than
$1,000 may be certified as uncollectible by the agency when the agency
determines that further collection efforts are not in the best economic
interest of the State (Ill. Rev. Stat. 1986 Supp., ch. 15, par. 102(c)). In
determining the best economic interest of the State, State agencies shall
determine whether the total collection cost expended or anticipated will exceed
the amount of the claim that would reasonably be expected to be realized as a
result of those collection costs.
c) Debts certified by the agency as
uncollectible by the Attorney General may be reopened for collection by a State
agency upon the approval of the Attorney General.
d) Debts certified by the agency as
uncollectible may be reopened for collection where the agency determines that
it is in the best economic interest of the State to do so (see subsection (b)
of this Section for the standards for determining the best economic interest of
the State).
e) After compliance
with the procedures set forth in Section 2 of "AN ACT in relation to
uncollected claims and accounts receivable of State agencies" (Ill. Rev. Stat.
1985, ch. 15, par. 102) and this Section, State agencies may delete from their
records debts certified as uncollectible as follows:
1) When the debt is less than $1,000,
immediately upon certification by the agency;
2) For debts of $1,000 or more that are less
than 5 years old, when the agency determines that such deletion is in the best
economic interest of the State. In determining the best economic interest of
the State, State agencies shall determine whether the total collection cost
expended or anticipated will exceed the amount of the claim that would
reasonably by expected to be realized as a result of those collection
costs;
3) For debts of $1,000 or
more when, the debt is more than 5 years old (Ill. Rev. Stat. 1986 Supp., ch.
15, par. 102 (i)).
Notes
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