Accounts payable performance

Appendix seven

Aged analysis at the end of each quarter

 

Quarter Current (i.e. within due date)
$’000
Less than 30 days overdue
$’000
Between 30 and 60 days overdue
$’000
Between 60 and 90 days overdue
$’000
More than 90 days overdue
$’000
All suppliers
September 248 20
December 13 12
March 136 136
June 674 674
Small business suppliers
September 71
December 2
March
June 4 4

 

Accounts due or paid within each quarter

 

Measure September December March June
All suppliers
Number of accounts due for payment 1,014 641 692 1,482
Number of accounts paid on time 1,013 639 691 1,478
Actual percentage of accounts paid on time (based on number of accounts) 100% 99.7% 99.9% 99.7%
Dollar amount of accounts due for payment $5,545,718 $5,663,839 $4,738,799 $7,799,521
Dollar amount of accounts paid on time $5,540,249 $5,646,167 $4,731,951 $7,778,469
Actual percentage of accounts paid on time (based on $) 100% 99.7% 99.9% 99.7%
Number of payments for interest on overdue accounts
Interest paid on overdue accounts
Small business suppliers
Number of accounts due for payment to small businesses  37  19  10 52
Number of accounts due to small businesses paid on time  37  19  10  52
Actual percentage of small business accounts paid on time (based on number of accounts) 100% 100% 100% 100%
Dollar amount of accounts due for payment to small businesses $149,635 $98,707 $75,626 $91,005
Dollar amount of accounts due to small businesses paid on time $149,635 $98,707 $75,626 $91,005
Actual percentage of small business accounts paid on time (based on $)  100% 100% 100% 100%
Number of payments to small business for interest on overdue accounts
Interest paid to small businesses on overdue accounts

 

Commentary

During the year we paid almost all of our accounts on time, exceeding our target of 90 per cent for the year.

 

Interest on late payments

We had no instances of penalty interest for delayed payments to a supplier for the year.

 

Purchasing Card Certification

The Purchasing Card Policy was last reviewed and updated in June 2016 and is considered current. The policy and controls are consistent with government policy as outlined in Treasurer’s Directions and NSW Treasury Circulars.