The Olentangy Local School District is always looking for ways to be more efficient and effective in our fiscal policies. While it may seem like a minor issue to some, receipt of non-sufficient fund (NFS) checks is a time consuming and costly issue. As with any business, the Olentangy Local School District has an obligation to our clients, the community taxpayers, to be fiscally accountable. Processing NSF check can take valuable time from the school district personnel. To manage this process, our District began using a check recovery system on February 1, 2007 to protect the interest of all in our school system community against the time consuming and costly recovery of Non-Sufficiently funded checks. On September 1, 2010 the district changed their recovery system to ChecXchange.
Please keep in mind that when a check is provided as payment, it is an authorization by the check writer to either make a one-time electronic fund transfer from the account or to process the payment as a check transaction. In doing so, the check writer also authorizes ChecXchange to collect a fee through an electronic fun transfer from the check writer’s account if the payment is returned unpaid.
ChecXchange utilizes the federal and state laws allowing the electronic recovery process of NSF checks which results in a high rate of recovery at no cost to the school district. The cost becomes the responsibility of those who wrote the non-sufficient fund check. The amount that is electronically recovered is the amount of the check plus the $34.00 fee that is regulated by the State of Ohio from the check writer’s bank account. Utilizing ChecXchange is an effort by the school district to be fiscally accountable in a more efficient and cost effective manner.
If you have any questions regarding this service or your account with the school district, please contact the Office of the Treasurer at (740) 657-4035.