In response to the federal government’s decision to stop producing the penny, the Tennessee Comptroller of the Treasury has issued guidance to help local governments, including utility systems, adjust their payment processing practices in a fair, transparent, and legally sound manner.
The guidance outlines several options local governments may consider when accepting cash payments, including encouraging exact change, offering electronic payment alternatives, crediting customer accounts for non-exact cash payments, and adjusting rates or fees to increments of five or ten cents when permitted by law.
The Comptroller’s Office also urges local officials to carefully evaluate any changes before implementation. Key considerations include consulting legal counsel, applying policies uniformly, avoiding preferential treatment among payment types, training staff, and clearly communicating changes to the public.
“This guidance is intended to help local governments navigate a practical challenge while maintaining fairness, transparency, and compliance with the law,” said Comptroller Jason Mumpower. “Each community is different, and local leaders should adopt policies that make sense for their residents while staying within their legal authority.”
The guidance applies to counties, municipalities, and other local government entities across Tennessee, including utilities and authorities.
View the Guidance Memo on the Comptroller’s website.
Media contact: John Dunn, Director of Communications, 615.401.7755 or [email protected]
Hence then, the article about comptroller releases guidance following penny discontinuance was published today ( ) and is available on Smith County Insider ( United Arab Emirates ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Comptroller Releases Guidance Following Penny Discontinuance )
Also on site :
- Armed rally in Mukayras district, Al-Bayda
- Development team from Sa& 039;dah and Ma& 039;rib visits cooperative societies in Al Hudaydah to learn from their experiences
- Meteorological Center Predicts Cold Weather