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AGENDA ITEM <br />Prepared By: RJO Reviewed By: A. Carlson Approved By: <br />1. Purpose. The purpose of this agenda item is to amend the 2022 Fee Schedule to reflect a three <br />percent (3%) convenience fee on payments made using a credit card. <br />2.Background. In 2020 the City approved a convenience fee of 2.75%, to be charged and collected by <br />the City’s credit card processor, Payment Services Network (PSN). By instituting the convenience fee, <br />the city is saving approximately $50,000 annually. PSN recently increased their convenience fee from <br />2.75% to 3.00%. As a result of this increase, the City’s fee schedule needs to be adjusted. <br />Customers do have the ability to pay for their services through alternative methods that do not incur a <br />convenience fee. These include payment by check or cash, and the ability to pay by direct debit of their <br />bank account. <br />3. Cost. There is no cost to this action. <br />4. Staff Recommendation. Staff recommends amending the fee schedule to reflect a convenience fee <br />of 3.0%. <br />COUNCIL ACTION REQUESTED <br />Motion to approve Ordinance 277 amending the convenience fee on credit card <br />transactions. <br />Exhibits <br />A. Ordinance 277 <br />Item No.: 6 Date: August 8, 2022 <br />Item Description: Amend Fee Schedule – Convenience Fee <br />Presenter: Ron Olson <br />Finance Director <br />Agenda <br />Section: <br />Consent Agenda