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Augusta finance office: pennies running out; city will apply penny change as bill credit once supply exhausted
Summary
City Clerk and Finance Director Erica told council the bank and Federal Reserve have stopped supplying pennies; once Augusta runs out the office will ask cash customers to pay exact change or accept that penny amounts be posted as a credit to the next utility bill.
Erica, the city clerk and finance director, notified council on Nov. 3 that the city’s bank has stopped receiving pennies from the Federal Reserve and the city’s remaining penny supply is down to about 50 cents. She said staff examined options but chose a practical approach: once pennies are exhausted the utility office will request exact cash from customers who pay in cash; if the city owes pennies as change, the penny amount will be applied as a credit to the customer’s next utility bill.
Erica said the change avoids complex software updates and does not short customers on their bills. She said other local businesses have made the same adjustment and the city will post notices at the utility payment window and on counters once the penny supply is exhausted.
Council acknowledged the announcement. No formal action was required; staff will implement notices at the utility office.
