NY Pub Auth L § 1276-B (2021)
2021 New York Laws PBA - Public Authorities Article 5 - Public Utility Authorities Title 11 - Metropolitan Commuter Transportation Authority 1276-B - Authority Budget and Financial Plan.

§  1276-b.  Authority budget and financial plan. 1. In addition to the   requirements of section twenty-eight hundred two of this  chapter,  each   authority  budget and plan shall be posted on its website and shall: (a)   present information relating to the authority and each of  its  agencies   in  a  clear  and  consistent  manner  and  format;  (b)  be prepared in   accordance with generally  accepted  accounting  principles,  except  as   otherwise  consented to by the comptroller upon good cause shown; (c) be   based on reasonable assumptions and methods of estimation;  (d)  include   estimates of projected operating revenues and expenses; (e) identify any   planned  transaction  that  would shift resources, from any source, from   one fiscal year to another, and the amount  of  any  reserves;  and  (f)   contain  a  summary in plain English of the principal information in the   budget and conclusions to be drawn from it.2. Supporting documentation. The  authority  shall  prepare  and  make   available  for public inspection on its website information that details   the sources of data and the assumptions and methods of  estimation  used   to  calculate  all  operating and capital budget projections, consistent   with generally accepted budgetary practices.3. The authority shall  establish  at  least  annually  the  quarterly   revenue  and  expense targets for the authority, and for each subsidiary   or other authority created by the authority  itself  and  for  which  it   reports financial data.4.  Monitoring  the  budget  and  financial  plan. The authority shall   prepare and make available for public inspection  on  its  website:  (a)   within  sixty  days of the release of the adopted budget and any updates   to the budget (except updates released within ninety days of  the  close   of  the fiscal year), monthly projections for the current fiscal year of   all revenues and expenses, staffing for the authority and  each  of  its   agencies,  and  utilization  for  each  of the authority's agencies that   operate transportation  systems,  including  bridges  and  tunnels;  (b)   within  sixty  days  after  the  close  of each quarter, a comparison of   actual revenues and expenses, actual staffing and actual utilization  to   planned  or  projected  levels for each of the authority's agencies that   operate transportation systems, including bridges and tunnels,  with  an   explanation  of each material variance and its budgetary impact; and (c)   within ninety days after the close of each quarter, the status  of  each   gap-closing  initiative  with a projected value greater than one million   dollars in any given fiscal year; the  status  of  capital  projects  by   capital  element, including but not limited to commitments, expenditures   and completions; and an explanation of material variances from the plan,   cost overruns and delays.5. Strategic operation plan.  Financial  information  required  to  be   submitted by the authority pursuant to paragraphs d and e of subdivision   one  of  section  twelve  hundred  sixty-nine-c  of  this title shall be   presented  in  a  format  consistent  with  the  budget  and  plan,   in   downloadable, searchable format.