District adds collection agency
The Elk River Area School District now contracts with eTech Transaction Solutions Inc. (eTech), a financial service firm that will handle all returned checks.
The reasons checks are returned include not sufficient funds, account closed, refer to maker and stop payment actions. The school district, like many businesses, receives an increasing number of checks that are returned for the above reasons.
These checks cost the school district money, take up staff time and can create discord between staff and parents. eTech will manage the entire processes electronically and notify applicable banks of the transaction. Individuals will be charged a $20 fee for each check that is returned to the bank.
“We believe this is a good business practice, that we are managing taxpayers’ monies wisely and that it is consistent with our standard of being financially responsible and transparent,” said Joe Primus, the district’s manager of finance.