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CC Regular Session <br />Meeting Date: 03/27/2012 <br />By: Diana Lund, Finance <br />Information <br />Title: <br />Report From Finance Committee of 3-13-12 <br />Background: <br />Two Cases were presented to the Finance Committee: <br />4. 7. <br />Case 1: Appointment of a Chair and Vice Chair for the Finance Committee. <br />Motioned that the City Council select Councilmember Elvig as Chair and Councilmember Wise as Vice Chair of <br />the Finance Committee in 2012. <br />Case 2: Credit Card Analysis <br />Staff reviewed the credit card collections to date outlining that the majority of the usage was from utility billing and <br />that the average credit card processing fee was 3.05%. The Finance Committee was in agreement to begin charging <br />a $2.00 per transaction fee for on-line usage to help offset the 3.05% rate. The transaction fee is to begin <br />immediately after council approval. <br />Recommendation: <br />Ratify the recommendations of the Finance Committee. <br />Council Action: <br />Ratify the recommendations of the Finance Committee. <br />Credit Card Analysis <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 03/21/2012 11:18 AM <br />Form Started By: Diana Lund Started On: 03/14/2012 07:40 AM <br />Final Approval Date: 03/21/2012 <br />