City of Franklin, TN
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The Accounts Payable staff produces vendor payments for City purchases. Payments include traditional check payments and automated clearing house (ACH) payments. The staff monitors invoices and payment terms, schedules payments and prepares cash requirements reports to investment officers for cash management purposes.
Please click here to see the City's Disbursements Policy that provides payment guidance for non-payroll disbursements.
From July 2023 - June 2024 (unaudited), the City prepared 4,400 payments to 755 vendors for over $62 million as shown below:
|
Category |
Total |
By Check |
Percent of Total |
By ACH |
Percent of Total |
|
Payments Made |
4,400 |
819 |
19% |
3,581 |
81% |
|
Vendors Paid |
755 |
286 |
38% |
469 |
62% |
|
Amounts Paid |
$62,421,842 |
$8,234,327 |
13% |
$54,187,515 |
87% |
Extensive use of a city-wide Purchasing Card program has dramatically reduced the number of transactions and payments made through the accounts payable process. Although 38% of vendors were paid by check, more payments made (81%) and amounts paid (87%) were by ACH than by check.