north carolina department of transportation september 26, 2013 stephanie king, director of...
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North Carolina Department of Transportation September 26, 2013
Stephanie King, Director of Accounting Theresa Jones, Manager of DMV Fiscal Revenue
Todd Morgan, Accounts Payable Manager
Sources of FundsSources of Funds2013-14 by Major Funding Source2013-14 by Major Funding SourceTotal Funding = $4.4 BillionTotal Funding = $4.4 Billion
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47.1%Highway Fund
$2,048.8M
.4%NCTA/Other
$19.3M
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Reconciliation & Segregation of Funds • Detail financial transactions will be tracked and reported thru the State Title and
Registration System (STARS)• STARS and the Vehicle Tax System will be balanced daily • STARS will send a daily update to NCDOT’s Financial System - SAP to update each
General Ledger account• NCDOT will be classifying the vehicle property tax owed to the counties as a Liability • Further balancing will take place between STARS, SAP, State’s Cash Management
System, Common Payment Service, First Data and iNovah• The State Treasurer’s Cash Management Control System will capture all cash activity
within the Highway Fund code of 80002 (HF01) initially then transactions will take place to move the vehicle property tax to VPT Code 64209 (PT01)
DOT Fiscal will certify the funds and then move the county portion to the following:• Dr. 11120003 (DMV Cash Clearing) HF01 Budget Code 80002• Cr. 21130XXX (Cash County VPT Collections) PT01 Budget Code 64209
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Deductions From Monthly County Collections
• STARS and VTS will generate monthly reports • DMV Financial Operations will distribute county collections after the following
deductions: Overhead Fee - $1.21 per Combined Notice Credit and Debit card processing fees – Actual Cost Limited Registration Plate – $1.27 LPA Compensation - $1.06 for six months .71 thereafter DMV Compensation - .71
ACH Distribution by the 15th of the following month
Combined Account at State Treasurer is covering cost through September.
Dealers are not compensated for vehicle property tax collections.
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Stats to dateJuly-13 TRANSACTIONS COUNTY AMOUNT
Cash 1,472 61,903.98
Check 3,289 269,829.19
Money Order /Cashier Ck 0
Merchant Card 2,710 201,231.56
EFT (Dealers) 1,113 52,228.85
TOTAL 8,584 585,193.58
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August-13 TRANSACTIONS COUNTY AMOUNTCash 17,190 752,589.67Check 50,185 4,011,492.08
Money Order /Cashier Ck 31 2,070.03Merchant Card 26,706 2,411,161.05EFT (Dealers) 5,240 296,248.56
TOTAL 99,352 7,473,561.39
Stats to date – Raleigh Window
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Week Ending CASH MO/CC CHECKS Credit Debit TOTAL
August 9, 2013 93,591.68 1,517.00 183,437.40 7,408.97 6,790.98 292,746.03
August 16, 2013 86,562.51 689.00 160,282.14 15,316.42 16,306.34 279,156.41
August 23, 2013 82,937.83 691.00 118,502.77 10,353.63 13,725.26 226,210.49
August 30, 2013 100,592.19 922.80 208,303.09 7,690.05 7,593.42 325,101.55
September 6, 2013 82,323.60 421.00 115,451.74 15,086.67 17,983.56 231,266.57
September 13, 2013 91,951.10 1,139.55 173,996.08 21,395.98 28,331.97 316,814.68
New Hanover County
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County Number Vehicles
Registration Collections
LRP Collections
Interest Reversals Net Collections CC DC Transactions
Credit Card Debit Card Total CC DC Unpostable Transactions
Unpostable Payments
New Hanover 1,923 $141,223.09 $0.00 $0.00 ($803.63) $140,419.46 663 $50,317.01 $0.00 $50,317.01 0 $0.00
1,923 $141,223.09 $0.00 $0.00 ($803.63) $140,419.46 663 $50,317.01 $0.00 $50,317.01 0 $0.00
North Carolina Vehicle Tax System
NCVTS State Daily Financial Report
Remittance Advice for New Hanover County
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Washington County
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ounty Number Vehicles
Registration Collections
LRP Collections
Interest Reversals Net Collections CC DC Transactions
Credit Card Debit Card Total CC DC Unpostable Transactions
Unpostable Payments
Washington 129 $7,248.06 $0.00 $0.00 $0.00 $7,248.06 14 $744.55 $0.00 $744.55 0 $0.00
129 $7,248.06 $0.00 $0.00 $0.00 $7,248.06 14 $744.55 $0.00 $744.55 0 $0.00
Report Parameters
North Carolina Vehicle Tax System
NCVTS State Daily Financial Report
Remittance Advice Washington County
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Credit Cards
August Credit Card Cost and Collection Totals
*Credit/Debit Card Costs and CPU costs are prorated by county based on collection amounts
4 Point of Sale Locations went live in August with Credit Cards:•59% Transactions from Credit Cards•41% Transactions from Pin-Debit
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Combined Bill Collections
First Data Credit/Debit Cost
CPU (0.28X26,706)
Total Collections $ 3,265,248.13 $50,421.90 $7,477.68
County 74% $ 2,411,161.05 $37,233.10 $5,521.75
DMV 26% $ 854,087.08 $13,188.80 $1,955.93
Bad Debt – Returned Check, ACH, Credit Card Charge Back
• Customers will be Billed Daily• Insufficient Fund 10% of check amount• After 30 Days Interest (5% set by DOR)
• Blocked from all DMV Services in North Carolina • Driver’s License Block in all other States• If not paid within 30 days they will be cash only for 5 years• Uncollected Bad Debt will be deducted from county collections after
the 13 month • Collections will continue with DOT, DOJ, DOR, and Collection
Agency
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Status of Implementation Cost
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• Total Deposits and Interest as of August $43,429,809.36
• Total Cost to Date $21,295,457.21
• Balance $22,134,352.15
What’s Next
• Continue roll out of credit functionality• Stabilize and refine processes and internal controls • Begin deductions from County Collections in October • Fill remaining vacancies • Continue to work closely with DOR, DMV, IT to monitor
transactions
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General Questions and DMV Fiscal Contacts Stephanie King
Director of Accounting
919-707-4290
Kim Padfield
Deputy Director of Accounting
919-707-4291
Theresa Jones
DMV Fiscal Operations Manager
(919) 707-4263
Felecia Lucas
DMV Revenue Unit Supervisor
(919) 707-4269
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ACH Questions and Issues
Todd Morgan
Accounts Payable Manager
(919) 707-4292
Todd Honeycutt
Accounts Payable Assistant Manager
(919) 707-4293
Main contact for vendor changes:
Hamilton Martin
Contract Unit Supervisor
(919) 707-4294
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Questions and Feedback
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