Debt Management
USAID is required by the Prompt Payment Act to pay its bills on time or pay an interest penalty to vendors. This chart shows that USAID has reduced its late payments from 4.52% in FY 2002 to less than .01% in FY 2005. In addition, we pay the vast majority of our bills by Electrionic Funds Transfer (EFT).
Timeliness of Payments
| Timeliness of Payments |
FY 2005 |
FY 2004 |
FY 2003 |
FY 2002 |
| Interest Penalty Paid |
$35,250.07 |
$3,045.00 |
$17,825.00 |
$66,372.00 |
| Percentage of Payments Paid Late |
0.001% |
0.41% |
1.17% |
4.52% |
| Number of EFT Payments |
29,816 |
21,309 |
20,690 |
21,108 |
| Number of Check Payments |
617 |
427 |
429 |
452 |
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