§ 319-15. Reporting.

(a)

The director of finance or designee and the budget director shall jointly report to the mayor and the city council, detailing the record of late payments and interest payments made by each department or agency pursuant to this chapter during the preceding year. This report shall be made semi-annually and shall include:

(1)

The number and total dollar amount of late payments and interest payments by each department and agency, and city-wide:

(2)

The percentages that the dollar amount of late payments and interest payments represent of the total dollars spent on contracting for all goods and services of whatever kind by each department and agency, and city-wide,

Any department or agency affected by subsection (a) above shall submit recommendations for specific actions to reduce the incidence of late payments

(b)

The director of finance will make interest assessments and discount reduction amounts available to each department or agency on a monthly basis.

(c)

The director of finance will make an annual presentation to city council regarding the previous year's interest assessments and discount reductions. Any department or agency affected by subsection (a) above shall be available to present or submit written justification upon request from city council.

(Ordained by Ord. No. 297-2002, eff. Sept. 18, 2002)