New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter LV - Dormitory Authority
Part 4701 - Prompt Payment Policy
Section 4701.14 - Annual report
Universal Citation: 21 NY Comp Codes Rules and Regs ยง 4701.14
Current through Register Vol. 46, No. 39, September 25, 2024
(a) The authority shall annually prepare a report on the scope and implementation of its prompt payment policy which shall include, but not be limited to:
(1) a listing of the types of categories of
contracts which the authority entered into during the 12-month period covered
by the report together with a brief indication of whether each type or category
of contract was subject to the prompt payment requirements promulgated by the
authority and, if not, why not;
(2)
the number and amounts of interest payments made for contracts arranged
according to each such type of category;
(3) the number of interest chargeable days
and the total number of days taken to process each late contract payment;
and
(4) a summary of the principal
reasons that such late payments occurred.
(b) Within 90 days after the completion of its fiscal year, the authority shall file copies of the report required by subdivision (a) of this section with the State Comptroller, the State Director of the Budget, the Chairman of the Senate Finance Committee, and the Chairman of the Assembly Ways and Means Committee.
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