Officials outline vendor-payable backlog, cash-on-hand and plan to prioritize local vendors

Summary

OMB and Department of Finance officials told the budget committee there were roughly $48.4 million in outstanding vendor payments reported for FY2025, which they adjusted after a large insurance payment; the administration described weekly payment prioritization and a plan to submit legislation to address prior-year obligations.

Members of the Committee on Budget, Appropriations and Finance pressed finance officials on outstanding vendor payables, cash flow and a plan to reduce late payments at a June 3 hearing.

Kevin McCurdy, commissioner of the Department of Finance, told the committee the government reported $48.4 million in outstanding vendor payments, $42.2 million of which is attributable to the general and special funds. After accounting for a large monthly health insurance premium that was due June 1 and later paid, McCurdy said the adjusted outstanding balance was roughly $23 million.

“We are focusing on our local vendors, making sure the local mom-and-pop are prioritized and are addressed in a timely manner,” McCurdy said. He told the panel finance now meets with chief financial officers (CFOs across…

Officials outline vendor-payable backlog, cash-on-hand and plan to prioritize local vendors

Summary

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