SC Transportation agency having trouble with bills
Tue, 09 Aug 2011 11:56:57 GMT —
CHARLESTON, S.C. (AP) -- Like many people, the South Carolina Transportation Department is having trouble paying all of its bills on time.
The Post and Courier of Charleston reported Tuesday contractors are being paid 45 days after they finish projects, rather than the usual one-month lag.
The newspaper also reported that the agency is taking more than two months to repay loans to the South Carolina Transportation Infrastructure Bank that provides funding for the largest projects.
Transportation Department spokesman Pete Poore says the agency has been working with contractors to work out payment plans. Poore says the response has been favorable.
He says the payment delays are caused by the summer peak of projects as well as the economy that has slowed revenue collections from gasoline taxes.
(Copyright 2011 by The Associated Press. All Rights Reserved.)