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Financial Terms

Requested on
Fri 25th May, 2012
Reference
FOI 1986
Resolution
Information provided

Question

Please supply me with the details of the standard payment terms your council employs in dealings with its suppliers, contractors and any other party supplying a service or product at a cost to your council.

Please also supply the most recent available figures showing, within a 12-month period:

* The percentage of bills your council settled in 10 days or less;

* The percentage of bills your council settled in 30 days or less;

* The percentage of bills your council took more than 30 days to settle.

Please also supply me with the mean average of the amount of time, in days, your council took to settle bills, within the same 12 month period.

Answer

Standard payment terms; 30 days

The figures below relate to the last financial year - 1st April 2011 to 31st March 2012.

* The percentage of bills your council settled in 10 days or less;   39.4%

* The percentage of bills your council settled in 30 days or less;   97.2%

* The percentage of bills your council took more than 30 days to settle.  2.8%

Please also supply me with the mean average of the amount of time, in days, your council took to settle bills, within the same 12 month period.   14 Days

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