The FY 2024 interest rate applicable to late payments to vendors has been set at 5.00% per annum, or $0.013 per $100 per day, which will be in effect July 1, 2023, through June 30, 2024. This interest rate is provided by the State Treasurer based on the average interest rate for 30-day time deposits of state funds during the last calendar quarter of the last preceding fiscal year. (O.S. 62 § 34.71& 34.72 and O.S. 74 § 500.16A. and OMES Prompt Payment Rules/Regulations).
Prompt Payment Info
Provides information on the interest rate to late payments to vendors for each fiscal year. The rate is provided by the Office of the State Treasurer.
Late Payment to Vendors – New Interest Rate – FY 2025
The FY 2025 interest rate applicable to late payments to vendors has been set at 5.34% per annum, or $0.014 per $100 per day, which will be in effect July 1, 2024, through June 30, 2025. This interest rate is provided by the State Treasurer based on the average interest rate for 30-day time deposits of state funds during the last calendar quarter of the last preceding fiscal year. (O.S. 62 § 34.71& 34.72 and O.S. 74 § 500.16A. and OMES Prompt Payment Rules/Regulations).
Archive
The FY 2023 interest rate applicable to late payments to vendors has been set at 0.97% per annum, or $0.0027 per $100 per day, which will be in effect July 1, 2022, through June 30, 2023. This interest rate is provided by the State Treasurer based on the average interest rate for 30-day time deposits of state funds during the last calendar quarter of the last preceding fiscal year. (O.S. 62 § 34.71& 34.72 and O.S. 74 § 500.16A. and OMES Prompt Payment Rules/Regulations).
The FY 2022 interest rate applicable to late payments to vendors has been set at 0.01% per annum, or $0.00002 per $100 per day, which will be in effect July 1, 2021, through June 30, 2022. This interest rate is provided by the state treasurer based on the average interest rate for 30-day time deposits of state funds during the last calendar quarter of the last preceding fiscal year. (O.S. 62 § 34.71& 34.72 and O.S. 74 § 500.16A. and OMES Prompt Payment Rules/Regulations)
The FY 2021 interest rate applicable to late payments to vendors has been set at 0.12% per annum, or $0.0003 per $100 per day, which will be in effect July 1, 2020, through June 30, 2021. This interest rate is provided by the state treasurer based on the average interest rate for 30-day time deposits of state funds during the last calendar quarter of the last preceding fiscal year. (O.S. 62 § 34.71& 34.72 and O.S. 74 § 500.16A. and OMES Prompt Payment Rules/Regulations)
The FY 2020 interest rate applicable to late payments to vendors has been set at 2.28% per annum, or $0.006 per $100 per day, which will be in effect July 1, 2019, through June 30, 2020. This interest rate is provided by the state treasurer based on the average interest rate for 30-day time deposits of state funds during the last calendar quarter of the last preceding fiscal year. (O.S. 62 § 34.71& 34.72 and O.S. 74 § 500.16A. and OMES Prompt Payment Rules/Regulations)
The FY 2019 interest rate applicable to late payments to vendors has been set at 1.15 % per annum, or $0.003 per $100 per day, which will be in effect July 1, 2018, through June 30, 2019. This interest rate is provided by the state treasurer based on the average interest rate for 30-day time deposits of state funds during the last calendar quarter of the last preceding fiscal year. (O.S. 62 § 34.71& 34.72 and O.S. 74 § 500.16A. and OMES Prompt Payment Rules/Regulations)
The FY 2018 interest rate applicable to late payments to vendors has been set at .38% per annum, or $0.001 per $100 per day, which will be in effect July 1, 2017 through June 30, 2018. This interest rate is provided by the State Treasurer based on the average interest rate for thirty day time deposits of State funds during the last calendar quarter of the last preceding fiscal year. (Titles 62, § 34.71 & 34.72 and 74, § 500.16A. and OMES Prompt Payment Rules/Regulations)
The FY 2017 interest rate applicable to late payments to vendors has been set at 0.11% per annum, or $0.0003 per $100 per day, which will be in effect July 1, 2016, through June 30, 2017. This interest rate is provided by the State Treasurer based on the average interest rate for thirty day time deposits of state funds during the last calendar quarter of the last preceding fiscal year. (62 O.S. § 34.71 & 34.72 and 74 O.S. § 500.16A and OMES Prompt Payment Rules/Regulations)
The FY 2016 interest rate applicable to late payments to vendors has been set at 0.02% per annum, or $0.00005 per $100 per day, which will be in effect July 1, 2015 through June 30, 2016. This interest rate is provided by the State Treasurer based on the average interest rate for thirty day time deposits of state funds during the last calendar quarter of the last preceding fiscal year. (Titles 62, § 34.71 & 34.72 and 74, § 840.16A and OMES Prompt Payment Rules/Regulations)
The FY 2015 interest rate applicable to late payments to vendors has been set at 0.04% per annum, or $0.00011 per $100 per day, which will be in effect July 1, 2014, through June 30, 2015. This interest rate is provided by the State Treasurer based on the average interest rate for thirty day time deposits of state funds during the last calendar quarter of the last preceding fiscal year. (62 O.S. § 34.71 & 34.72 and 74 O.S. § 500.16A and OMES Prompt Payment Rules/Regulations)
The FY 2014 interest rate applicable to late payments to vendors has been set at 0.12% per annum, or $0.00033 per $100 per day, which will be in effect July 1, 2013, through June 30, 2014. This interest rate is provided by the State Treasurer based on the average interest rate for 30-day time deposits of state funds during the last calendar quarter of the last preceding fiscal year. (Titles 62, § 34.71 & 34.72 and 74, § 840.14 and OMES Prompt Payment Rules/Regulations)
The Fiscal Year 2013 interest rate applicable to late payments to vendors has been set at 0.01% per annum, computed on a 360 day calendar, or $0.00002 per $100 per day, which will be in effect July 1, 2012, through June 30, 2013. This interest rate is provided by the State Treasurer based on the average interest rate for 30-day time deposits of state funds during the last calendar quarter of the last preceding fiscal year. (Titles 62, § 41.4a & 4b and 74, § 840.14. and OSF Prompt Payment Rules/Regulations).
The Fiscal Year 2012 interest rate applicable to late payments to vendors has been set at 0.11% per annum, computed on a 360 day calendar, or $0.00031 per $100 per day, which will be in effect July 1, 2011, through June 30, 2012. This interest rate is provided by the State Treasurer based on the average interest rate for 30-day time deposits of state funds during the last calendar quarter of the last preceding fiscal year. (Titles 62, § 41.4a & 4b and 74, § 840.14. and OSF Prompt Payment Rules/Regulations).
The Fiscal Year 2011 interest rate applicable to late payments to vendors has been set at 0.28% per annum, computed on a 360 day calendar, or $0.00078 per $100 per day, which will be in effect July 1, 2010, through June 30, 2011. This interest rate is provided by the State Treasurer based on the average interest rate for 30-day time deposits of state funds during the last calendar quarter of the last preceding fiscal year. (Titles 62, § 41.4a & 4b and 74, § 840.14. and OSF Prompt Payment Rules/Regulations).
Last Modified on
Jul 02, 2024
