US · guidance
BOP Program Statement 2013.04 § 9
INTEREST ON PAST DUE BILLS – NON-GOVERNMENT
Bills for which payment has not been received within 30 days are considered overdue. Debt
management policy provides for the application of interest on these bills.
a. Interest Rates. Interest rates are determined by the current value of funds to the Treasury.
This value is transmitted by Treasury Financial Manual bulletins and presented in the form of an
interest rate. This percentage rate is entered into the Financial System via a computer program
that automatically computes the monthly interest rate.
b. Interest. Interest will be computed monthly for each overdue bill. As bills are collected, the
amount received will first be applied to the interest and the remaining portion to the principal
amount of the bill. Partially paid bills continue to accrue interest and shall be listed on the next
billing statement.
c. Adjustments. Adjustments to incorrect interest charges may be made. An example would be
a bill that has been paid in full, but the entry was not entered into Financial Systems during the
proper month. Interest adjustments are made in the Accounts Receivable module in the
Financial System.
History
PS 2013.04 dated 2017-05-19
Provenance
- Source
- bop.gov
- Retrieved
- 2026-09-20
- Edition
- bop-ps-2026-09-20
- Content hash
e3c6f0dc184efaccd17e119a0c9a617e2bd558e340f610aa5b4dbe3d2d936b82
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