Supplier Invoice Payment Performance - Public Contracts Regulations 2015 (Reg. 113)

Supplier Invoice Payment Performance - Public Contracts Regulations 2015 (Reg.113)

In  accordance with the Public Contracts Regulations 2015 (Regulation 113); Cornwall Council publishes performance data for the financial year ending 31 March for payment of valid and undisputed Supplier Invoices within 30 days.

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This statutory requirement supersedes the Councils former payment performance criteria and will be published on an annual basis for the previous financial year:

Financial   Year

Proportion of undisputed* Invoices paid within 30 days

Value of interest** liability of Invoices paid after 30 days

Value of identified interest in relation to late payment charges paid to suppliers

2018/19

98.94%

£20,665.27

£0.00

2017/18

98.59%

£22,739.44

£0.00

2016/17

98.68%

£42,001.53

£0.00

2015/16

98.52%

Negligible

£0.00

 

* Invoices imported to the council’s finance system from other council systems which have been disputed cannot currently be identified. Therefore all internally imported invoices, approximately 75% of all invoices paid, are included in reported payment performance figures. Cornwall Council maintains a target to enter all non-imported Supplier Invoices onto its finance system within 3 working days of receipt to its Accounts Payable Team. To identify disputed (or copy) Invoices; all imported and non-imported Invoices entered onto the council’s finance system 30 or more days from the Invoice Date have been excluded from the figures published above, which have been updated accordingly to ensure accurate reporting of the legislation requirement.

** Interest calculated at 8% plus Bank of England Base Rate as at 31st March of Financial Year