Exploring new credit card vendors



Initiative TitleExploring new credit card vendors
Submitted in Previous Year(s)No
Critical Information, Notes, Justification, Rationale

To minimize the expense to both the student and the College, we are soliciting vendors who charge lower fees, without compromising customer service.

Consequences of this initiative not being funded

College and or Students pay more fees than necessary.

Department GoalsNew Credit Card Vendor
Programs
Locations
Estimated Completion Date
Will this initiative span multiple budget years?No
ImportanceMedium
Funding Source
Created10/22/2019 11:27 am
Updated07/27/2020 2:05 am

Institutional Goals

Goal How will the initiative support this institutional goal?
Decreasing operating expenses for the College

Action Steps

Action Step Responsible Party Order
Contact vendors and invite them to present their product Student Accounts Staff 1

Expected Outcomes

Outcome Order
We will retain services from best overall vendor 1

Assessment Methods

Method Description Other Method Responsible Party
Rubrics/ Scoring Guides Rubrics/scoring guides outline identified criteria for successfully completing an activity, assignment, etc. and establish levels for meeting the criteria. They can be used to score everything from essays, engagement, to performances. Student Accounts Staff

Resources

INITIAL YEAR COST: $63,800.00
RECURRING COST: $46,500.00

Equipment

Need Cost (Initial/Recurring) Supporting Departments
Credit Card Terminals $0.00
  • Student Services Central
ERefunds $7700.00 / 7700.00
  • Student Services Central
Software Subscription $28800.00 / 28800.00 (1st year)
  • Student Services Central
TOTAL: $28,800.00 / $36,500.00

Facility

Need Cost (Initial/Recurring) Supporting Departments
TOTAL: $0.00 / $0.00

Supply

Need Cost (Initial/Recurring) Supporting Departments
TOTAL: $0.00 / $0.00

Staffing

Need Cost (Initial/Recurring) Supporting Departments
TOTAL: $0.00 / $0.00

Training

Need Cost (Initial/Recurring) Supporting Departments
TOTAL: $0.00 / $0.00

Marketing

Need Cost (Initial/Recurring) Supporting Departments
TOTAL: $0.00 / $0.00

Other

Need Cost (Initial/Recurring) Supporting Departments
Annual Subscription $10000.00 / 10000.00
  • Business Office
Initial Implementation $35000.00
  • Business Office
TOTAL: $35,000.00 / $10,000.00

Prioritization

Level 5 Level 4 Level 3 Level 2 Level 1 Initiative Title Department



2
2
Exploring new credit card vendors
$63,800.00 / $46,500.00
Bursar

Assessment

DateDepartment NameStatusCost to DateFunding Source 
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