NY Vill L § 17-1729 (2021)
2021 New York Laws VIL - Village Article 17 - Provisions Applicable to a Village Embracing the Entire Territory of a Town 17-1729 - Change in Fiscal Years.

§  17-1729  Change  in  fiscal  years. 1. The board of trustees of any   village in which a majority of the electors has approved  a  proposition   submitted  to the voters in accordance with subdivision three of section   17-1708 or of any village in which a proposition has been  submitted  to   the  voters  in  accordance  with  subdivision one of section 17-1703-a,   hereof, may, by resolution, adopt a fiscal  year  for  such  village  to   commence  on the first day of January and end on the thirty-first day of   December. If the  board  of  trustees  shall  so  adopt  a  fiscal  year   commencing  on  the  first  day  of  January  as  aforesaid,  all of the   provisions of article five,  sections  17-1722  and  17-1722-a  of  this   chapter  and  of  the real property tax law fixing times or dates within   which or by which certain acts shall be performed  in  relation  to  the   preparation  of  the  assessment roll, the preparation of the budget and   the levy and collection  of  taxes  and  special  assessments  shall  be   changed to the times and dates applying to the town which is coterminous   with  such village and the board of review of such town shall constitute   the board of review of such village.2. A certified copy of a resolution adopting a new fiscal  year  shall   be  filed within ten days in the office of the state department of audit   and control at Albany, New York.3. Whenever the fiscal year of a village is changed by action  of  the   board of trustees taken pursuant to subdivision one of this section, the   current  fiscal  year  shall  be  automatically  extended to include the   interim period between the last day of the current fiscal year  and  the   first  day  of  the  new fiscal year, unless the board of trustees shall   elect to treat such  interim  period  as  a  separate  fiscal  year,  as   provided in subdivision five of this section.4. The board of trustees may raise all or part of the amount necessary   to pay the obligations and other expenses of the village for the interim   period by the issuance of obligations pursuant to the local finance law;   provided, however, that revenues and other income resulting from special   assessments  for capital projects or from operation of revenue producing   undertakings, enterprises and utilities, including but  not  limited  to   water  supply,  sewerage,  electric, steam or gas, for which obligations   may become due during the interim period shall be applicable to  payment   of  obligations  and  expenses  therefor  as provided by law and to that   extent bonds or notes shall not be issued therefor.5. The board of trustees may treat such interim period as  a  separate   fiscal  year,  in  which  case all the provisions of article five of the   village law and of the real property tax law relative to the preparation   of a budget and the assessment, levy and collection of taxes shall apply   to such interim period; provided, however, that the amount to be  raised   by  tax  on  real estate in any such interim period shall not exceed the   limitations prescribed by article eight of the constitution, divided  by   twelve  and multiplied by the number of months contained in such interim   period.