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Q&A
Inquiry about percentage of contracts experiencing payment delays
0:41:01
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48 sec
Council Member Adams asks about the percentage of contracts that experience significant delays in initial payment following registration by the comptroller. The panel does not provide specific data but explains the current advance payment policy.
- The administration does not have immediate data on the percentage of delayed payments
- Michael Sedillo explains that the current policy is to provide a 25% advance at the start of the contract term
- The advance is meant to provide upfront cash flow without requiring an invoice or services rendered
Adrienne E. Adams
0:41:01
But do you have a figure on the delays, the percentage of delays that are experienced in initial payment following the registration by the controller?
0:41:14
If no, just
Michael Sedillo
0:41:16
Thank you.
0:41:16
I don't know that we have data on that, but I mean I would note that the policy in the past, which is relatively new, is 25% advanced at the start of the contract term.
0:41:27
So it's meant to go out immediately to provide that upfront cash flow to folks without an invoice or even services rendered perhaps.
0:41:35
So it is really the tool to give that upfront capital so that programs and services can start until we get on a regular invoicing path.
0:41:45
So there ought not be too much of a delay, we can absolutely get back to you ASAP on that.