11/22/2024 3:48:01 PM
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Section 5: OPA Board Subject: Rakowski Motion CC Fees Msg# 1215689
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The Board and management, after consultation with my office, believe the simpler and more administratively effective way to cover the cost of providing the electronic payment option to the members (and account for it), is by incorporating the projected aggregate cost into the operating budget, rather than through a per transaction "convenience" fee/charge.
I would question that as it apples to management. Also, I believe you have made clear that this is not some legal requirement but more or less a bookkeeping issue. Regardless, thank you for answering my inquiry. Very much appreciated. |
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For reference, the above message is a reply to a message where: Joe: Yes that provision in the Code remains in effect. Convenience fees may be charged in accordance with that provision. The Board and management, after consultation with my office, believe the simpler and more administratively effective way to cover the cost of providing the electronic payment option to the members (and account for it), is by incorporating the projected aggregate cost into the operating budget, rather than through a per transaction "convenience" fee/charge. I don't have any extensive comment as to your prediction that members' use of credit cards will "explode" if the Motion is approved and the convenience fee goes away (because that is an unknown); but if an increase in CC use is experienced, this would probably create some considerable efficiencies and acceleration in regard to the collection and processing of assessment payments. Taking away the credit card payment option all together, as you suggest, is not tenable in this era, and would likely negatively impact (slow and/or reduce) assessment collections. Folks are free to comment at tomorrow's meeting on this issue. |
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