Of the total contracts reported by State agencies in 2024, 78 percent were processed after their start or renewal dates, an increase from 56 percent in 2023.

For State Fiscal Year (SFY) 2024-25, agencies paid vendors $4,258,793 in interest primarily due to delays in encumbrance processing, agency backlog or agency processing delays.

For State Fiscal Year (SFY) 2023-24, agencies paid vendors $3,960,506 in interest, a decrease of $126,774 (approximately 3 percent) from SFY 2022-23.

Of the total contracts reported by State agencies in 2023, 56 percent were processed after their start or renewal dates, a decrease from 58 percent in 2022.

The Procurement Stewardship Act Report is prepared annually by the Office of the New York State Comptroller as required by New York State Finance Law, Section 163.14. The Report provides information on state agency contracts, agency purchases from centralized contracts, bid protests and use of consultants during the past fiscal year.

For State Fiscal Year (SFY) 2022-23, agencies paid vendors $4,087,280 in interest, an increase of $3,081,904 (approximately 307 percent) from SFY 2021-22.

Of the total contracts reported by State agencies in 2022, 58 percent were processed after their start or renewal dates. This represents no change from 2021.

The Office of the State Comptroller received 18,605 contract transactions, including both new contracts and contract amendments, valued at $173 billion in the calendar year 2021. The average time from agency contract submission to final sign-off was 5.3 days.

Of the total contracts reported by State agencies in 2021, 58 percent were processed after their start or renewal dates, a decrease from 78 percent in 2020.

For State Fiscal Year (SFY) 2021-22, agencies paid vendors $1,005,376 in interest, a decrease of $445,842 (approximately 31 percent) from SFY 2020-21.