AGENDA MEMO

City Council

February 16, 2010

ISSUE STATEMENT

A resolution authorizing the City Administrator to enter into an agreement with Chase Bank to provide reward credit cards for the City of Darien.

RESOLUTION

BACKGROUND/HISTORY

The City of Darien currently issues several credit cards to employees to make certain City purchases. The current credit cards offer no rewards for the items purchased with these cards. Chase offers a Flexible Rewards Select Business Card that offers rewards. For each dollar spent, the account is credited with one point. The points can later be redeemed for different types of rewards, including a $150 check for every 10,000 points earned. There is a $100 yearly program fee, but with the approximately $58,000 spent in the last full fiscal year on credit cards last year it is anticipated the rewards will total approximately $870 for the entire year, for a $770 benefit to the City of Darien.

STAFF/COMMITTEE RECOMMENDATION

The Administrative/Finance Committee recommends approval.

ALTERNATE CONSIDERATION

Not approving the resolution would be an alternate consideration.

DECISION MODE

This item will be on the February 16, 2010 City Council agenda for formal approval.