Royal Household paying slower

The Royal Household was slower to pay contractors for the second year running in the year to March 2004.
It said 83% of contractors were paid within 30 days, compared with 87% in 2003. Some 94% were paid within 40 days and 97% within 50 days.
The Royal Household said implementing a new accounting system led to invoicing delays. It added that payments for the £4.4m project to refurbish Clarence House came ahead of schedule, which caused cash constraints and payment delays for other projects.
The project to re-roof Bottom Court at the Royal Mews was delayed when severe structural problems were uncovered. The project overran on cost, which meant the Royal Household missed its 100% target on meeting costs within £20,000 or within 10% of the let tender amount.
The Royal Household expects funding for Property Services to be £15m a year for the next two years, although funding for 2004/2005 will be reduced by £750,000 to accommodate the early payment for work on Clarence House. The Royal Household plans £750,000 internal improvements on York House at St James's Palace before 2009.