FY 05 PROMPT PAYMENT ACT REPORT, 01OCT04-

UNCLAS GENEVA 001866

SIPDIS

RM/GFS/FOC, MELVYN ACEVEDO

E.O. 12958: N/A
TAGS: AFIN AMGT
SUBJECT: FY 05 PROMPT PAYMENT ACT REPORT, 01OCT04-
30JUNE05

REF: SECSSTATE 00124843


1. As requested in reference cable no.124843, post
provides the following information regarding payments
made to vendors during the period October 1, 2004 and
June 30, 2005.

Invoices subject to the prompt payment Act
(a) dollar amount $8,574,256
(b) total number of invoices 1409

Invoices paid early
(a) dollar amount $0
(b) total number of invoices 0

Invoices paid late
(a) dollar amount $551,422.71
(b) total number of invoices 39

Late payment interest penalties paid
(a) dollar amount $1,560.47
(b) total number of invoices 41

Additional penalties paid
(a) dollar amount $0
(b) total number of invoices 0

Interest or other late payment penalties, which were
due, but not paid
(a) interest less than $1.00

a. interest amount in dollars $ 0.84
b. total number of invoices 1
(b)for other reasons
a. interest amount in $0
b. total number of invoices 0

Discounts
(a) dollar amount/number discounts available $107.80
(b) dollar amount/number discounts taken $107.80


2. Reason why interest penalties were incurred (ranked
from highest to lowest in order of frequency of
occurrence)

- The largest penalty was for an invoice in the
amount of $ 238,023.24. This was paid late because the
invoice was mistakenly overlooked when stapled to
another invoice from the same vendor.
- Delay or error by paying office in routing of
invoice to meet the payment terms
- Delay or error in notifying contractor of
defective invoice
- Delay or error in verifying proper invoice
- Delay or error in computer or other systems
processing.

MOLEY