STATE OF CONNECTICUT
THE STATE COMPTROLLER
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.
Compliance with these procedures will reduce the overall cost of goods and services to the State and resolve vendor reconciliation problems.
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|
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