Broward County Commission Regular Meeting

MOTION TO FILE Annual Report of Interest Payments made under the Local Government Prompt Payment Act, pursuant to Florida Statute 218 (Sections 218.70 through 218.80), and the Prompt Payment Policy, pursuant to County Ordinance No. 89-49 and County Code of Ordinances, Chapter 1, Section 1-51.6.

ACTION:  (T-10:26 AM)  Approved.
 
VOTE: 6-0.  Commissioners Geller, Holness and Sharief were not present.

In accordance with Florida Statute 218, County Ordinance No. 89-49 and County Code of Ordinances, Chapter 1, Section 1-51.6, the Accounting Division is required to file an Annual Report of Interest Payments.

Compliance with Florida Statute 218, County Ordinance No. 89-49 and County Code of Ordinances, Chapter 1, Section 1-51.6.

None.

THE FINANCE AND ADMINISTRATIVE SERVICES DEPARTMENT AND THE ACCOUNTING DIVISION RECOMMEND APPROVAL OF THE ABOVE MOTION.

Florida Statute 218, County Ordinance No. 89-49 and County Code of Ordinances, Chapter 1, Section 1-51.6, provide for the timely payment of a vendor's proper invoice(s) and provide for interest on past due payments. The Florida Statute provides that amounts are due 45 days after receipt of a proper invoice, while the County Ordinance is more restrictive, providing for a 30-day payment period. Payments made after the 30-day period are past due and, therefore, subject to interest at 1% per month.

For the Fiscal Year ending September 30, 2017, the County did not pay interest to any vendors. Since there were no penalties, no exhibit is attached.

Susan Friend, Director, Accounting Division, (954) 357-7140
Paul Cissell, Assistant Director, Accounting Division, (954) 357-7242