COMPTROLLER'S SEAL STATE OF CONNECTICUT

STATE OF CONNECTICUT

NANCY WYMAN
COMPTROLLER

OFFICE OF THE STATE COMPTROLLER
55 ELM STREET
HARTFORD, CONNECTICUT 06106-1775

MARK OJAKIAN
DEPUTY COMPTROLLER

MEMORANDUM NO. 97-11

March 21, 1997

TO THE HEADS OF ALL STATE AGENCIES

ATTENTION:Chief Administrative and Fiscal Officers, Business Managers
SUBJECT: Prompt Payment Discounts

An analysis of payments made to vendors offering prompt payment discounts indicates that many State agencies eligible to take advantage of this cost saving measure are not doing so. Paperless processing agencies are expected to process invoices expeditiously to meet both the State's general and special terms for payment. Whenever feasible, paper processing agencies should also attempt to meet these special conditions as well.

Agency Procedures:

Compliance with these procedures will reduce the overall cost of goods and services to the State and resolve vendor reconciliation problems.

Questions

Questions may be directed to the Office of the State Comptroller as follows:

Memorandum Interpretation and Procedures: (860) 702-3395
Paperless Processing Conversion: (860) 702-3399

NANCY WYMAN
STATE COMPTROLLER

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