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CASE #3 <br /> <br /> OTHER FEES AND CHARGES <br /> By: Sandra Ashley Helling, Finance Officer <br /> <br />Background: <br /> <br />Staff has identified areas where fees or charges may be appropriate. They <br />include: <br /> <br />1. N.S.F. or a Returned Check Charge Suggested at $15.00 <br /> <br /> The City receives approximately ten returned checks annually. While the <br /> fee suggested is not a significant revenue source, there is a cost in staff <br /> time for collection efforts. <br /> <br />Interest charges for delinquent .accounts receivable are suggested at an <br />annual rate of 10% on any balance 30 or more days past due. <br /> <br />As there is no penalty for non-payment, developers and other individuals <br />or firms, with a balance due the City, have no incentive to pay in a timely <br />fashion - in fact, they have an incentive to use the City's funds as long as <br />possible. Code is silent on this subject. <br /> <br />A City fee for issuance of Industrial Revenue Bonds. <br /> <br />Many cities charge a fee (%, point, etc.) for the City's approval of <br />Industrial Revenue Bond issuance. While this is not a revenue source that <br />can be anticipated at general fund budget time, the revenue generated <br />could be dedicated by Council at time of receipt. <br /> <br />Staff Recommendation: <br /> <br />Presented for discussion. <br /> <br />Review Checklist: <br /> <br />Finance Officer <br />City Administrator <br /> <br />BC: 10/29/91 <br /> <br /> <br />