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Truth in Credit Card Processing
<br />The city offers a variety of payment methods (in person, online, telephone) and accepts three card types including VISA, MasterCard, and Discover.
<br />The card type and transaction method determine the rate fee the city pays per transaction. This analysis summaries total monthly transactions
<br />and fees to determine the cumulative processing fee, backing out fixed monthly account fees.
<br />Month
<br />Total Sales
<br />Fixed Fees*
<br />Processing Fees
<br />True Processing Fee Rate ( %)
<br />June 2011
<br />$ 1,660.16
<br />$ 319.80
<br />$ 53.95
<br />3.25%
<br />July 2011
<br />$ 9,929.87
<br />$ 49.95
<br />$ 309.52
<br />3.12%
<br />August 2011
<br />$ 59,501.54
<br />$ 49.95
<br />$ 1,902.38
<br />3.20%
<br />September 2011
<br />$ 25,116.92
<br />$ 49.95
<br />$ 785.80
<br />3.13%
<br />October 2011
<br />$ 22,815.50
<br />$ 49.95
<br />$ 468.02
<br />2.05%
<br />November 2011
<br />$ 89,961.22
<br />$ 49.95
<br />$ 2,830.75
<br />3.15%
<br />December 2011
<br />$ 16,099.75
<br />$ 49.95
<br />$ 516.52
<br />3.21%
<br />January 2012
<br />$ 12,632.28
<br />$ 49.95
<br />$ 411.24
<br />3.26%
<br />February 2012
<br />$ 52,096.34
<br />$ 49.95
<br />$ 1,611.51
<br />3.09%
<br />Total
<br />$ 289,813.58
<br />$ 719.40
<br />$ 8,889.69
<br />Average Rate: 3.05%
<br />CITY OF RAMSEY
<br />413.50
<br />4,173.15
<br />5,064.61
<br />3,537.91
<br />11,783.51
<br />25,110.78
<br />4,769.05
<br />5,669.57
<br />5,423.70
<br />24.91%
<br />42.03%
<br />8.51%
<br />14.09%
<br />51.65%
<br />27.91%
<br />29.62%
<br />44.88%
<br />10.41%
<br />65,945.78
<br />Month
<br />June 2011
<br />July 2011
<br />August 2011
<br />September 2011
<br />October 2011
<br />November 2011
<br />December 2011
<br />January 2012
<br />February 2012
<br />Total
<br />70,000.00
<br />60,000.00
<br />50,000.00
<br />40,000.00
<br />30,000.00
<br />20,000.00
<br />10,000.00
<br />Total Sales
<br />1,660.16
<br />9,929.87
<br />59,501.54
<br />25,116.92
<br />22,815.50
<br />89,961.22
<br />16,099.75
<br />12,632.28
<br />52,096.34
<br />289,813.58
<br />Total Processing
<br />Fees
<br />373.75
<br />359.47
<br />1,952.33
<br />835.75
<br />517.97
<br />2,880.70
<br />566.47
<br />461.19
<br />1,661.46
<br />9,609.09
<br />CREDIT CARD SALES ANALYSIS
<br />Credit Card Sales & Fees - By Month
<br />General Fund
<br />Sales
<br />% Total
<br />Sales
<br />\A �',` et ec et et 0 0
<br />.).` ,� -.9 , c ( ‘ �� k� 3� b ��
<br />P �� & w O�`e Fe
<br />* Monthly Fixed Service Fee (June 2011 includes swipe machines)
<br />PREPARED BY: FINANCE DEPT
<br />Enterprise Fund
<br />Sales %Total Sales
<br />1,246.66 75.09%
<br />5,756.72 57.97%
<br />54,436.93 91.49%
<br />21,579.01 85.91%
<br />11,031.99 48.35%
<br />64,850.44 72.09%
<br />11,330.70 70.38%
<br />6,962.71 55.12%
<br />50,434.88 96.81%
<br />227,630.04
<br />Total Processing Fees
<br />L4 General Fund Sales
<br />v Enterprise Fund Sales
<br />
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