SC DOT sets new goal for paying bills quicker
COLUMBIA, S.C. (AP) — South Carolina’s transportation secretary says his agency is trying to pay bills faster than the law requires after last summer’s financial mess.
Secretary Robert St. Onge told senators Thursday the agency’s new standard is to pay bills within 30 calendar days, rather than the allowed payment window of 30 business days. He says that causes too much confusion because many people don’t realize that could mean 45 days.
The transportation department fell behind on bills last summer, with road builders complaining they weren’t being paid for months. St. Onge says the agency started too many projects without balancing its cash flow.
He told a Senate panel considering how to restructure the agency that about $120,000 worth of invoices are overdue now, but there are problems with those bills.