Prompt payment of first tier or prime supplier invoices
Under regulation 113 (7) and (8) of the Public Contracts Regulations 2015, the Council is required to publish annual payment performance data.
The data required to be published consists of:
- Percentage of invoices paid within 30 days
- Amount of interest paid to suppliers resulting from late payment
- Amount of interest the Council was potentially liable to pay to supplier resulting from late payment
| Financial Year | Percentage of invoices paid within 30 days * | Interest (£'s) actually paid to suppliers ** | Interest (£'s) liable to be paid to suppliers *** |
|---|---|---|---|
| 2023/24 | 93.71% | N/A | £132,764.53 |
* Excludes grant payments, refunds and payments to individuals (such as for Adult & Children's Social Care). The date calculated from is based on either the date registered onto the system or invoice date (whichever is later).
** It is not possible to calculate interest paid to suppliers retrospectively.
*** Calculated based on the Bank of England base rate as of 31 March for each financial year plus 8%. Does not consider disputes, non-compliance, etc. This likely overstates the possible interest due.