Percent of compliance with the Virginia Prompt Pay Act.
Measure Last Modified
08-29-2024 09:57 a.m.
Measure Last Published
08-29-2024 10:10 a.m.
Status
Active
Data Source and Calculation
<p>The data source for this measure is a report produced by the Department of Accounts showing the number of late payments, total payments, late dollars, total dollars and percentage of payments in compliance. Certain payments are excluded from this calculation, such as financial assistance program reimbursements to localities and prepayments (e.g. subscriptions and event registrations).</p>
Enterprise Priorities and Strategies
Initiative
Priority
Strategy
Associated Service Areas
Service Area Code
Service Area Name
69901
General Management and Direction
Targets and Baselines
Name
Date
Result
Note
Baseline
None
Short Target 2025
06-30-2025
96.0
Long Target 2027
06-30-2027
97.0
Results
Year
Result
Note
2005
100.0
According to the Department of Planning and Budget, this measure has been eliminated.
2006
100.0
According to the Department of Planning and Budget, this measure has been eliminated.
2007
100.0
According to the Department of Planning and Budget, this measure has been eliminated.
2008
99.6
According to the Department of Planning and Budget, this measure has been eliminated.
2009
99.9
According to the Department of Planning and Budget, this measure has been eliminated.
2010
99.6
2011
99.8
The Management Scorecard was discontinued in 2008 and taken over by the Department of Human Resource Management. The agency is developing a substitute measure for the next biennium.
2012
99.7
The Management Scorecard was discontinued in 2008 and taken over by the Department of Human Resource Management. The agency is developing a substitute measure for the next biennium.
2013
98.4
The Department achieved its target goal during fiscal year 2013 for processing payments in accordance with the Virginia Prompt Payment Act.
2014
99.8
The Department achieved its target goal during fiscal year 2014 for processing payments in accordance with the Virginia Prompt Payment Act.
2015
98.8
The Department achieved its target goal during fiscal year 2015 for processing payments in accordance with the Virginia Prompt Payment Act.
2016
97.5
The Department achieved its target goal during fiscal year 2016 for processing payments in accordance with the Virginia Prompt Payment Act.
2017
93.8
The Department fell short of its target goal by 1.2 percentage points during fiscal year 2017, primarily attributed to staff shortages and revising business processes associated with the new Enterprise financial accounting system.