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 1,916
December 178
March 417
June 861
Small business suppliers
September 9
December 239
March 35
June 18

 

Accounts due or paid within each quarter

 

Measure September December March June
All suppliers
Number of accounts due for payment 1,645 747 698 939
Number of accounts paid on time 1,639 744 690 923
Actual percentage of accounts paid on time (based on number of accounts) 99.6% 99.6% 98.9% 98.3%
Dollar amount of accounts due for payment $8,762,581 $8,093,733 $5,582,749 $8,057,154
Dollar amount of accounts paid on time $8,406,911 $8,045,143 $5,567,415 $7,976,315
Actual percentage of accounts paid on time (based on $) 95.9% 99.4% 99.7% 99.0%
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 17 15 8 15
Number of accounts due to small businesses paid on time 13  14 8 14
Actual percentage of small business accounts paid on time (based on number of accounts) 76.5% 93.3% 100% 93.3%
Dollar amount of accounts due for payment to small businesses $179,684 $142,740 $52,768 $63,650
Dollar amount of accounts due to small businesses paid on time $90,384 $100,021 $52,768 $42,750
Actual percentage of small business accounts paid on time (based on $) 50.3% 70.1% 100% 67.2%
Number of payments to small business for interest on overdue accounts 1
Interest paid to small businesses on overdue accounts $20

 

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 paid interest to one small business for an overdue payment, compared to nil in 2016–17.

 

Purchasing Card Certification

The Purchasing Card Policy was last reviewed and updated in April 2018 and is considered current. The policy and controls are consistent with government policy as outlined in Treasurer’s Directions and NSW Treasury Circulars.