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Santa Fe committee approves $120,000 budget amendment to cover Wells Fargo credit-card fees
Summary
The Public Works and Utilities Committee approved a budget amendment adding $120,000 to cover excess credit-card processing fees charged to the city through Wells Fargo, amid discussion about passing convenience fees to customers and the length of the city's banking contract.
The Santa Fe Public Works and Utilities Committee voted to approve a budget amendment adding $120,000 to cover excess credit-card processing fees charged to the city by Wells Fargo.
The change, listed on the agenda as item 7x, passed on a roll-call vote with all members present voting yes. The amendment was described in committee as necessary because credit-card usage this fiscal year has exceeded the amount originally budgeted.
“To date this fiscal year, the credit card usage has exceeded what was originally budgeted, which means more credit cards are being used throughout the city, generating additional fees that the city covers,” said Matt Bonhoeffer, accounting…
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