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).
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Last Modified on
Jul 02, 2024