This update is released by the South Carolina Department of Transportation (SCDOT) each week to report the agency's current fiscal status and to highlight recent accomplishments of the agency.
SCDOT's current financial status remains stable with a continued positive outlook. Accordingly, SCDOT continues to process validated invoices in a timely manner. The Comptroller General's office has processed approximately $ 45 million in payments to SCDOT vendors, contractors and others thus far during the month of May. All debt service and South Carolina Transportation Infrastructure Bank payments are current.
SCDOT is actively preparing for the 6/30/2012 Fiscal year-end. As part of this preparation, SCDOT has initiated a number of actions specifically designed to make certain that contractor, supplier and vendor invoices are expedited to ensure proper year-end handling and payment. On an agency wide basis, Procurement team members are reviewing all open Purchase Orders to verify that appropriate year-end procedures are followed. Accounts Payable team members are working to resolve any outstanding invoice issues. SCDOT requests that contractors, suppliers and vendors submit their invoice(s) timely and schedule the delivery of goods and services within the time frame requested. Invoices submitted promptly for June activity will be expedited and those payments will be given the highest priority. SCDOT makes every effort to continue to pay all of its invoices in a timely manner; however the payment of invoices that are either late or inaccurate may be delayed.
SCDOT's business partners may obtain detailed remittance Information for electronic payments from the "Attention Vendors" section of the SCDOT Website. These instructions, which were provided to many SCDOT contractors, suppliers, and vendors over the last several months, are now available via the website. Contractors, suppliers, and vendors who receive their payments electronically are encouraged to review this detailed payment information.