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REPORT
FINANCE DEPARTMENT
Meeting: GENERAL PURPOSE AND ADMINISTRATION COMMITTEE QQ
Date: Monday December 1, 2008 Resolution #:~-~D
Report #: FND-031-08 File #: By-law #:
Subject: NOT SUFFICIENT FUNDS (NSF) FEES INCREASE
Recommendations:
It is respectfully recommended that the General Purpose and Administration Committee
recommend to Council the following:
1. THAT Report FND-031-08 be received;
2. THAT Council approve the NSF fee increase to $35.00, effective
January 1, 2009; and
3. THAT Council approve a charge of $35.00 for refund cheques to Mortgage
Companies effective January 1, 2009.
Submitted by:
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Nancy ay r, ., C. ., Franklin Wu,
Director o Finance/Treasurer Chief Administrative Officer.
NT/sc
REPORT NO.: FND-031-08
PAGE 2
BACKGROUND AND COMMENT:
1.0 Not Sufficient Funds (NSF) Fees
The current fee for a returned cheque from the bank for insufficient funds is $10.00.
This is intended to offset Municipal staff time and expense in tracing NSF
payments, adjusting. accounts and sending notices to the taxpayer. Our staff have
reviewed the fees charged by other Municipalities. The results of the review are
listed below:
Town of Ajax $ 40.00
Township of Brock $ 30.00
City of Oshawa $ 30.00
City of Pickering $ 35.00
Township of Scugog $ 35.00
Township of Uxbridge $ 35.00
Town of Whitby $ 30.00
The proposed increase will bring the Municipality's fees in-line with that charged by
surrounding municipalities.
2.0 Charge for Refund Cheques to Mortgage Companies
As part of our staffs survey of other Municipalities in the area, three out of seven
Municipalities charge the Mortgage Companies to issue refund cheques.
Refund cheques would be issued when a mortgage company pays taxes on an
incorrect roll number for a property or a mortgage was paid off and they paid in
error.
The results of the survey are detailed below:
Town of Ajax $ 40.00
City of Pickering $ 35.00
Town of Whitby $ 30.00
The charge of $35.00 would off set part of the staff's time for research and paper
work required for processing the refund.
To streamline administration of this charge we would deduct the $35.00 charge
from the refund amount.
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
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