2023 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.
6. The authority shall publish all data pertaining to each authority's
budget  and  financial  plans  as  required by this section in a common,
machine readable  format  on  the  authority's  website  as  defined  by
executive  order  number  ninety-five  of  two thousand thirteen, "Using
Technology to Promote Transparency, Improve Government  Performance  and
Enhance  Citizen  Engagement"  or  any  successor order. Such data shall
include, but not be limited to:
(a) estimates of projected operating revenues and expenses,  including
monthly  projections  for  the  current  fiscal year of all revenues and
expenses;
(b) quarterly revenue and expense targets;
(c) staffing for the authority and each of its agencies;
(d) 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;
(e)  the  status of each gap-closing initiative with a projected value
greater than one million dollars in any given fiscal year; and
(f) the status of capital projects by capital element,  including  but
not  limited  to commitments, expenditures and completions; and material
variances from the plan, cost overruns and delays.
7. The data required to be published pursuant to this section shall be
made in a single tabular data file in a common, machine readable  format
and  shall  be  accessible  on  the  authority's website and the website
data.ny.gov or such other successor website maintained by, or on  behalf
of,  the  state,  as  deemed appropriate by the New York state office of
information technology services under executive order number ninety-five
of two thousand thirteen, or any successor agency or order.