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BQ
ORCUTT TOWNHOMES PHASE Ill DEVELOPMENT CORPORATION
MEMORANDUM
DATE: January 13, 2026
TO: Board of Directors,
Orcutt Townhomes Phase III Development Corporation
FROM: Lysandra M. Shaw, President Jes
SUBJECT: Tenants’ Accounts Receivable Charge-off, Twelve Months,
Ending September 30, 2025
The attached list of proposed charge-offs of Tenants’ Accounts Receivable is presented
for your review and approval.
There are four accounts recommended for charge-off action with a total dollar value of
$16,997.29. This represents 14.9% of Orcutt Townhomes Phase III Apartments net
rental revenue. We budget 2% for bad debt at Orcutt Townhomes Phase III
Apartments.
Last year, we did not have any accounts to be charged off.
Adoption of the attached resolution authorizing the charge-off in the total amount of
$16,997.29 for the twelve-month period ending September 30, 2025, is recommended.
KRW/LKD
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