What are we measuring?
The Accounts Payable division of the Department of Finance serves all county departments through the vendor payment process. This measure tracks to percentage of vendor payments made within 30 days of receipt of the invoice.
Why are we measuring it?
Timely payment of invoices helps to maintain positive relationships with vendors and sustains their interest in competing for the City's business on future bids, which may result in lower cost to tax payers.
How are we doing?
The percentage of vendors paid within 30 days remained unchanged from 2017 at 88%, down five percentage points from 2016. This percentage reflects delays caused by lagging approval times received from departments and current system protocols that sometimes require requisitions and POs to be entered in the system before an invoice can be paid. As part of regular annual financial closing procedures, requisitions and POs are cancelled at the end of the year. Invoices received after the closing period require new requisitions and/or POs the following year in order to be paid. Delays resulting from departments providing final approvals for payment and generating those new requisitions resulted in a significant number of payments not being made within the 30 day goal. Finance is facilitating increased communication between the departments and Purchasing to ensure payment of invoices within the 30 day period.