Federal Agencies' Bill Payment Performance and Comments on Proposals To Amend the Prompt Payment Act

T-AFMD-88-8: Published: Mar 17, 1988. Publicly Released: Mar 17, 1988.

Additional Materials:

Contact:

Office of Public Affairs
(202) 512-4800
youngc1@gao.gov

GAO discussed: (1) agencies' progress towards paying their bills on time; and (2) proposed amendments to the Prompt Payment Act. GAO found that the proposed legislation would: (1) assume acceptance of goods or services 5 days after delivery for computing payment due dates and calculating late-payment penalties; (2) eliminate the grace period, which could increase administrative costs and further delay some payments; (3) encourage agencies to pay late-payment penalties voluntarily; (4) better define discount periods; (5) expand agencies' reporting requirements; and (6) include prompt payment discounts in the Federal Acquisition Regulation. GAO believes that, although agencies' adherence to the recently revised guidelines should improve their bill-payment procedures, legislation mandating certain practices would emphasize the need to accelerate management and administrative initiatives.

Oct 2, 2017

  • auditing icon, source: PhotoDisc

    U.S. Territories:

    Public Debt Outlook
    GAO-18-160: Published: Oct 2, 2017. Publicly Released: Oct 2, 2017.

Sep 26, 2017

Jul 13, 2017

Jul 12, 2017

Jun 30, 2017

Jun 29, 2017

Jun 14, 2017

Jun 13, 2017

May 25, 2017

Looking for more? Browse all our products here