remit
To send money that you owe for something.
Remit means to send money as payment for something, especially when you're paying a bill or settling a debt. When your family remits payment to the electric company, they're sending money to cover the month's electricity use. Businesses remit taxes to the government, and subscribers remit fees to magazines or online services.
The word comes from banking and business, where remittance (the noun form) describes money sent from one place to another. You might see “please remit payment within 30 days” on an invoice, which means “please send us the money you owe within a month.”
Remit also means someone's area of responsibility or authority. A science teacher's remit includes teaching biology and chemistry but probably doesn't include coaching basketball. When someone says “that's outside my remit,” they mean “that's not my job” or “I don't have authority over that.” A committee might have a specific remit, like planning the school's Earth Day celebration, meaning that's their assigned responsibility and they shouldn't be making decisions about other school events.