These reports detail the amount of interest paid by the State for not meeting the requirements of the prompt payment statues. The reports are submitted pursuant to Section 179(m) of the State Finance Law. They identify the number of instances in which State agencies did not meet the statutory deadlines before interest was due vendors and the reasons for the delays. In 2009-2010, vendors were paid interest of $912,060. This represents a decrease of $362,050, or more than 28 percent below the prior year.
For a complete copy of Report 2010-BSE-Prompt Payment, click here.