NY Pays $1.9M Interest For Late Payments

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Updated: 6/26/2012 11:51 am
ALBANY, N.Y. (AP) - New York Comptroller Thomas DiNapoli says the state paid more than $1.9 million in interest for late payments to vendors during the last fiscal year, up almost 40 percent from a year earlier.
   
DiNapoli says that's a waste of taxpayer dollars.
   
According to the comptroller's office, the leading agency in interest payments was the Department of Health at $1.3 million, followed by the State University of New York at nearly $110,000 and the Department of Transportation at almost $87,000.
   
A Health Department spokesman says more than 99 percent of its contracts are paid on time and the agency strives to accomplish that with all its contracts.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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