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SPRATELY HOUSE DEVELOPMENT CORPORATION
MEMORANDUM
DATE: January 13, 2026
TO: Board of Directors,
Spratley House Development Corporation
FROM: Lysandra M. Shaw, President Nu
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
$7,046.16. This represents 3.8% of Spratley House Apartments net rental revenue.
We budget 2% for bad debt at Spratley House Apartments.
Last year, we charged off $1,276.00 (one account).
Adoption of the attached resolution authorizing the charge-off in the total amount of
$7,046.16 for the twelve-month period ending September 30, 2025, is recommended.
LMS/LKD
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