Interest Rate Amount

The Interest Rate Amount -will set the Interest Rate for the formula of calculating monthly interest accrual. The default and standard rate for local governments is .0075 (3/4 of 1%).

Frequency: This process can be run at anytime, but is normally done only once as this rate is not likely to change.

- this menu requires access rights assigned in the User Setup.

- LOCAL GOVERNMENTS SHOULD CONSULT WITH THE CLEARINGHOUSE BEFORE EXECUTING THIS FUNCTION!

1. From the Main Menu click Interest:

2. The Interest menu options:

3. Move the mouse over Base Update Update and click this option:

4. A dialog screen appears:

• Click to abort and return back to the main menu
• Click for the following appears:

• The following appears: