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Friday, 10 April, 2020
Home BUSINESSCities accrue huge interests for paying late
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Tue, 29 Dec, 2015 12:08:33 AM
FTimes – STT Report, Dec 29
 
Helsinki City Hall. File Photo Lehtikuva.
A number of big cities have to count tens of thousands of euros in interest due to late payments, reported the Finnish language tabloid Ilta-Sanomat.
 
According to a study by the newspaper, Helsinki, Espoo and Vantaa have accrued the highest interests due to late payments over the last five years.
 
The City of Helsinki’s late payment interests in the last five years have totalled approximately 275,000 euros. And that figure does not include some of the city’s official facilities and utilities.
 
Other than the metropolitan areas, Jyväskylä paid the highest interest for late payments. 
 
Over the last five years, the city has paid an extra 110,000 euros for overdue invoices.
 
The accounting manager of the city, Vesa Voutilainen believes the amount should be reasonable.
 
According to him, the delay in paying invoices can be explained by the fact that accountants and invoice inspectors are sometimes replaced by temporary employees.
 
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