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New York News

DiNapoli Says NYS Paid $1.4M for Lateness

http://stream.publicbroadcasting.net/production/mp3/wamc/local-wamc-973657.mp3

Albany, NY – New York Comptroller Thomas DiNapoli says the state paid nearly $1.4 million in interest for late payments to vendors during the 2010 fiscal year. WAMC's Tristan O'Neill reports...

According to the comptroller, that is nearly double the state cost for late bill payments the year before.

Under state law, contractors are owed interest when payments are more than 30 days late.

The Health Department paid the most interest, at $577,613, followed by the Transportation Department at $131,509.

Other agencies include the Office of Mental Health paying $91,412, the Department of Correctional Services, $81,330 and the State University of New York, $81,001.

According to the comptroller, auditors saved the state $562,000 by accelerating agency payment requests.

Tristan O'Neill, WAMC News.

Copyright 2011 Associated Press. All Rights Reserved.