The University of Oklahoma is restricted on payment of late fees on payment accounts, except within rules stated in Oklahoma House Joint resolution 1010.

House Joint Resolution 1010 reads as shown below:

Interest:  Proper invoices not paid within 45 days will accrue interest beginning on the 30th day after receipt.  The annual interest rate will be set by the State Treasurer based on the average rate for 30-day deposits of state funds during the last calendar quarter of the last preceding fiscal year.

The FY 2025 interest rate applicable to late payments to vendors has been set at 5.34% per annum, or $0.014 per $100 per day, which will be in effect July 1, 2024, through June 30, 2025.  If suppliers request calculations of interest on past due invoices please contact AccountsPayable@ouhsc.edu for questions and processing.