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Finance Committee Date: 04/26/2011 By: Diana Lund Finance Title: Credit Card/Debit Card Acceptance Policy Information Item #: 4. 1. Background: At the regular meeting of March 22, 2011 the City Council awarded the contract for credit card services to RevTrak. Per State Statute 471.381 - City, Town and County Obligations and Payments - "A statutory or home rule charter city, town or county may accept payment by use of a credit card, debit card, or all forms of electronic or wire funds transfer. Subject to any other law to the contrary, the city town, or county may add to the amount due a service charge for the acceptance of a payment method authorized in this subdivision. The city town, or county shall adopt policies and procedures regarding the payments." At this time, the city council has authorized that all fees associated with credit card transactions be absorbed by the city and that no service charges (transaction fees) be assessed to the customer. This was deemed as part of the costs of doing business. Per the statute, the city is required to adopt a credit card policy. The city's proposed credit card policy is attached. Recommendation: Staff recommends that the Credit Card/Debit Card Acceptance Policy be adopted per state statute. Funding Source: All credit card fees will be charged to the respective fund. For example: The enterprise funds of Water, Sewer, Street Lighting, Recycling and Storm Drain will be charged for utility billing credit card charges and the General Fund for charges related to building permits and fines. Council Action: Motion to recommend to City Council to adopt the Credit Card /Debt Card Acceptance Policy as required by state statute. Credit Card Acceptance Policy Attachments Form Review Inbox Reviewed By Date Kurt Ulrich Kurt Ulrich 04/21/2011 08:37 AM Form Started By: Diana Lund Started On: 04/15/2011 01:12 PM Final Approval Date: 04/21/2011