[NCUC-EC] notification about minor reimbursement mistakes

[Rafik Dammak]

Hi Milton,

Thanks for this. yes better to keep using USD as reference, converting will
be always tricky and rates changing a lot for several currencies.

Best,

Rafik


2016-04-16 23:29 GMT+09:00 Mueller, Milton L <milton at gatech.edu>:

> Dear EC colleagues,
>
> On my next financial report you will see some minor deviations from
> authorized reimbursement amounts.
>
> Usually these are in the range of $25 - $70. The reason this happens is
> that there seems to be a discrepancy between the currency exchange rates
> that are quoted to me on the web and those used by the bank when it
> transfers money. In making these payments, I have tried to make it in the
> local currency, because that saves us $10 in wire transfer fees. However,
> that requires me to calculate (“guess” might be a better word) how much the
> US dollar amount would be in the foreign currency.
>
>
>
> Just to give you an example, I just reimbursed Ayden. You authorized me to
> pay him $599.89 in US dollars. I asked a web-based currency converter how
> much that was in UK pounds, because if I make the transfer in pounds the
> wire fee is lower. The currency converter told me that $599.89 = UKP
> 422.40. So  transferred 422.40 UK pounds. After I did that, the bank said
> it had paid him $625 in US dollars.
>
>
>
> I had a similar problem with Tatiana, she was overpaid $70. From now on I
> will just transfer in US$ amounts.
>
>
>
> Dr. Milton L. Mueller
>
> Professor, School of Public Policy
>
> Georgia Institute of Technology
>
>
>
>
>
> _______________________________________________
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> NCUC-EC at lists.ncuc.org
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>
>
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