The Finance Section is responsible for the receipt, disbursement, reporting and budgeting of Department monies in accordance with state and federal guidelines. The Virginia State Police finance section follows the Prompt Payment Act which requires state agencies that acquire goods and services, or conduct business through contractual agreements with non-governmental and privately-owned businesses, to pay by the “required” payment due date for delivered goods and services.
Mailing Address:
P.O. Box 27472 Richmond, VA 23261 Attn: Finance
Physical Address: Administrative Headquarters 7700 Midlothian Turnpike North Chesterfield, VA 23235
The Finance Section is responsible for the receipt, disbursement, reporting and budgeting of Department monies in accordance with state and federal guidelines.
The Prompt Payment Act requires state agencies that acquire goods and services, or conduct business through contractual agreements with non-governmental and privately-owned businesses, to pay by the “required” payment due date for delivered goods and services.
A state agency is any authority, board, department, institution, or any other unit of state government.
The required payment due date is established by the terms of the contract; or if a contract is not in existence, thirty calendar days after the receipt of a proper invoice, or thirty days after the receipt of goods or services, whichever is later.
Additionally, the Prompt Payment Act provides for the following:
Promotes timely vendor payments;
Improves vendor relationships;
Promotes competition;
Reduces the cost of goods and services provided to the Commonwealth;
Facilitates sound cash management; and
Increases the investment potential for the Department of the Treasury (DOT).
