reglab/statecodes huggingface dataset:
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 156 - The New York Achieving A Better Life Experience Savings Account Act › Section 156.6 - Program implementation and management

Current through Register Vol. 46, No. 28, July 10, 2024
The Comptroller shall implement and manage the NY ABLE
				  Program through the use of third party vendors to administer accounts,
				  financial organizations to serve as managers and depositories for the program
				  and such consultants, outside counsel and other third party vendors that the
				  Comptroller deems necessary and proper. Such vendors shall be procured in
				  accordance with provisions of the State Finance Law governing State contracts,
				  as modified by chapter 149 of the Laws of 2016. In procuring financial
				  organizations to serve as program manager(s) and depository(ies), the
				  Comptroller shall, at a minimum, consider and evaluate the following
				  factors:
(a) financial stability and
				integrity of the financial organization;
(b) the safety of the investment instrument
				being offered;
(c) the ability of
				the investment instrument to track increasing costs of obtaining care for
				individuals with disabilities;
(d)
				the ability of the financial organization to satisfy recordkeeping and
				reporting requirements;
(e) the
				financial organization's plan for promoting the program and the investment it
				is willing to make to promote the program;
(f) the fees, if any, proposed to be charged
				to persons for opening or maintaining accounts;
(g) the minimum initial deposit and minimum
				contributions that the financial organization will require;
(h) the ability of banking organizations to
				accept electronic withdrawals, including payroll deduction plans; and
(i) other benefits to the State or its
				residents included in the proposal, including fees payable to the State to
				cover expenses of operation of the program.
Other factors, including programs and practices to prevent
				  fraud and unauthorized transactions will be included in any procurement and
				  resulting contract with a program manager.
The Comptroller shall select from among bidding financial
				  organizations those that demonstrate the most advantageous combination, both to
				  potential participants and to the State, of the above-enumerated factors to
				  serve as managers and depositories of the program.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 156 - The New York Achieving A Better Life Experience Savings Account Act › Section 156.7 - Fees

Current through Register Vol. 46, No. 28, July 10, 2024
The Comptroller may collect fees from account owners and
				  financial organizations serving as account depositaries and managers of the
				  Program to cover expenses of operating and administering the Program as are
				  deemed necessary in his or her discretion.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 156 - The New York Achieving A Better Life Experience Savings Account Act › Section 156.8 - NY ABLE Account Advisory Council

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Membership. The NY ABLE Account Advisory
				Council shall consist of the following persons or their designees:
(1) Ex Officio members, as follows:
(i.) The Comptroller;
(ii.) The Commissioner of the Office of
				Mental Health;
(iii.) The
				Commissioner of the Office for People With Developmental
				Disabilities;
(iv.) The
				Commissioner of the Department of Health;
(v.) The Superintendent of the Department of
				Financial Services;
(vi.) The
				Commissioner of the Department of Taxation and Finance; and
(vii.) The Commissioner of the Office of
				Temporary and Disability Assistance;
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 156 - The New York Achieving A Better Life Experience Savings Account Act › Section 156.9 - No State guaranty.

Current through Register Vol. 46, No. 28, July 10, 2024
ANY ABLE account is not insured by the State and neither the
				  principal deposited, the payment of interest nor investment or other return is
				  guaranteed by the State. The NY ABLE account savings agreement, the program
				  disclosure booklet an d every contract, application and similar document that
				  may be used in connection with a contribution to an account shall clearly
				  indicate that the account is not insured or guaranteed by the State.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 201 - Accounting, Reporting And Supervision Requirements For Public Authorities › Section 201.1 - Purpose, definitions and scope of part

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Purpose. The purpose of this Part is to
				set forth the accounting, reporting and supervision requirements for all public
				authorities and other public corporations covered by this Part. The following
				terms are defined as follows for the purposes of this Part:
(1) Affiliate or affiliated with shall mean a
				corporate body or company controlling, controlled by, or under common control
				with another corporate body.
(2)
				Subsidiary shall mean a corporate body or company:
(i) having more than half of its voting
				shares owned or held by a public authority or other public corporation covered
				by this Part; or
(ii) having a
				majority of its directors, trustees or members in common with the directors,
				trustees or members of a public authority or other public corporation covered
				by this Part or as designees of a public authority or other public corporation
				covered by this Part.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 201 - Accounting, Reporting And Supervision Requirements For Public Authorities › Section 201.3 - Investment guidelines for public authorities

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Every public authority referred to in
				section
				201.1(b) 
				of this Part shall comply with the investment guideline requirements set forth
				in subdivision (c) of this section.
(b) Every public authority referred to in
				section
				201.1(b) 
				of this Part shall require its independent auditor to review the public
				authority's investment policies and practices to determine whether:
(1) the public authority complied with
				applicable laws, regulations and the State Comptroller's investment guideline
				requirements set forth in this section;
(2) the public authority complied with its
				own investment policies;
(3)
				investment assets were adequately safeguarded;
(4) adequate accounts and records were
				maintained which accurately reflect all transactions, including a report on the
				disposition of public authority investment assets; and
(5) a system of adequate internal controls
				was maintained.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 201 - Accounting, Reporting And Supervision Requirements For Public Authorities › Section 201.4 - Submission of required documents and reports; waivers

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The documents and reports required by
				this Part shall be submitted by a public authority in an electronic format
				prescribed by the Office of Budget and Policy Analysis of the Office of the
				State Comptroller, within 90 days after the close of the public authority's
				fiscal year, to an internet address or an e-mail address specified by the
				Office of Budget and Policy Analysis.
(b) Questions relating to the applicability
				or interpretation of this Part should be submitted to the Office of Budget and
				Policy Analysis.
(c) A public
				authority may apply for a waiver of any requirement set forth in this Part. A
				request submitted in an electronic format shall be submitted to an internet
				address or an e-mail address specified by the Office of Budget and Policy
				Analysis of the Office of the State Comptroller. A request submitted in a
				non-electronic format should be addressed to the Office of Budget and Policy
				Analysis, Office of the State Comptroller, 110 State Street, Albany, NY 12236-
				0001. A request for a waiver from a reporting requirement should be submitted
				not later than the date on which the report is due. No waiver from a
				requirement established by law shall be granted. A waiver from a requirement
				established solely by this Part may be granted for reasonable cause unless such
				a waiver would interfere with the fulfillment of a duty of the State
				Comptroller. The Office of Budget and Policy Analysis shall transmit a written
				determination, in electronic format, of a waiver request to the public
				authority requesting the waiver. A determination approving a waiver shall
				specify:
(1) the scope of the
				waiver;
(2) the reason therefor;
				and
(3) the new reporting date, if
				the waiver involves the postponement of a reporting date otherwise required by
				this Part.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 202 - Budget And Financial And Strategic Operation Plan Format, Supporting Documentation And Monitoring-metropolitan Transportation Authority › Section 202.1 - Purpose and applicability of part

Current through Register Vol. 46, No. 28, July 10, 2024
This Part shall apply to the Metropolitan Transportation
				  Authority, created pursuant to title 11 of article 5 of the Public Authorities
				  Law (section 1260 et seq.). The purpose of this Part is to set forth specific
				  requirements in connection with the format of, the preparation and maintenance
				  of supporting documentation for, and the monitoring of, the annual budgets and
				  financial plans, and the format of certain financial information in strategic
				  operation plans, of the Metropolitan Transportation Authority. All requirements
				  of this Part shall apply immediately upon the effective date of this Part,
				  except as otherwise consented to by the Comptroller at the request of the
				  Metropolitan Transportation Authority upon good cause shown.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 202 - Budget And Financial And Strategic Operation Plan Format, Supporting Documentation And Monitoring-metropolitan Transportation Authority › Section 202.2 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
For purposes of the Part:
(a) MTA shall mean the Metropolitan
				Transportation Authority, created by title 11 of article 5 of the Public
				Authorities Law (section 1260 et seq.), as amended.
(b) MTA affiliates shall mean the Triborough
				Bridge and Tunnel Authority, and the New York City Transit Authority and its
				subsidiary, the Manhattan and Bronx Surface Transit Operating
				Authority.
(c) MTA subsidiaries
				shall mean the Long Island Rail Road Company, the Metro- North Commuter
				Railroad Company, the Staten Island Rapid Transit Operating Authority, the
				Metropolitan Suburban Bus Authority, the MTA Capital Construction Company and
				the First Mutual Transportation Assurance Company, together with all other
				subsidiary corporations formed by the MTA in accordance with the provisions of
				section 1266 (5)  of the Public
				Authorities Law.
(d) MTA
				Headquarters shall mean the budgetary component within the MTA that provides
				for certain centralized functions, such as budgeting, cash management, finance
				and legal services.
(e) MTA
				agencies shall mean MTA headquarters, MTA affiliates and MTA
				subsidiaries.
(f) Budget shall mean
				the preliminary, proposed final and final operating budgets of the MTA and each
				of the MTA Agencies.
(g) Plan shall
				mean the financial plan for the MTA and each of the MTA agencies, and any
				updates.
(h) Gap shall mean the
				difference between projected revenues and expenses for any given fiscal year
				before a proposed fare increase or other proposed management actions that
				increase revenues or reduce costs.
(i) Gap-closing program shall mean any
				combination of management actions that reduce costs or increase revenues that
				lower a gap in any given fiscal year.
(j) Utilization shall mean subway, bus,
				railroad and paratransit ridership, and bridge and tunnel crossings.
(k) Reimbursable shall mean costs and
				expenses that are funded by capital funds.
(l) Capital Program Review Board shall mean
				the Metropolitan Transportation Authority Capital Program Review Board created
				by section 1269-a  of the Public Authorities
				Law.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 202 - Budget And Financial And Strategic Operation Plan Format, Supporting Documentation And Monitoring-metropolitan Transportation Authority › Section 202.3 - Budget and plan format

Current through Register Vol. 46, No. 28, July 10, 2024
Each budget and plan shall:
(a) be prepared so that information relating
				to the MTA and each of the MTA agencies is presented in a 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 other operating funding sources
				(including but not limited to fares, tolls, taxes and governmental
				subsidies);
(e) include estimates
				of projected reimbursable and nonreimbursable personal service operating
				expenses, including but not limited to salary and wage costs, overtime, health
				insurance and pension costs;
(f)
				include estimates of projected reimbursable and nonreimbursable nonpersonal
				service operating expenses, including but not limited to power, fuel, public
				liability, insurance, materials and supplies, contract services and
				depreciation;
(g) include estimates
				of projected debt service to finance the capital program approved by the
				Capital Program Review Board or any amendment proposed by the MTA to the
				approved capital program;
(h)
				include estimates of projected debt service to finance capital needs that
				extend beyond the approved capital program or any amendment proposed by the MTA
				to the approved capital program;
(i) include estimates of projected debt
				service for all other capital projects, such as projects for the Triborough
				Bridge and Tunnel Authority, to be funded during the plan period in whole or in
				part by borrowings;
(j) identify
				any planned transactions that would shift resources, from any source, from one
				year to another, and the amount of any reserves;
(k) except in the case of the Triborough
				Bridge and Tunnel Authority, include a corresponding cash budget and plan, and
				identify all cash adjustments, in excess of $500,000, including but not limited
				to debt service, taxes and government subsidies; and
(l) be accompanied by a certification by the
				executive director of the MTA to the effect that, to the best of his or her
				knowledge and belief after reasonable inquiry, the budget or plan, as the case
				may be, is based on reasonable assumptions and methods of estimation and that
				the requirements of sections 202.3 and
				202.4  of
				this Part have been satisfied.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 202 - Budget And Financial And Strategic Operation Plan Format, Supporting Documentation And Monitoring-metropolitan Transportation Authority › Section 202.4 - Supporting documentation

Current through Register Vol. 46, No. 28, July 10, 2024
The MTA shall prepare working papers that detail the
				  assumptions and methods of estimation used to calculate all operating and
				  capital budget projections, consistent with prudent budgetary practices. The
				  working papers shall be completed contemporaneously with the release of its
				  budgets and plans and shall include a statement supporting the reasonableness
				  of each estimate, and the underlying information on which the estimate is
				  based, such as actual results from prior years, inflationary trends and
				  economic data, assumptions regarding the cost of future collective bargaining
				  agreements, utilization, demographic and other pertinent data. The MTA also
				  shall prepare and make available for public inspection with the release of its
				  budgets and plans:
(a) a
				reconciliation that identifies all changes in estimates, in excess of $500,000,
				from the projections in the previous budget or plan (the reconciliation shall
				identify changes in operating revenues and receipts, expenses and
				disbursements, gap-closing programs, collective bargaining costs, staffing
				levels and other changes as may be necessary);
(b) a projection of the number of employees
				to be employed by the MTA and each of the MTA agencies covered in the plan,
				including:
(1) whether the sources of funding
				such employees' salaries and benefits are reimbursable or
				nonreimbursable;
(2) numbers of
				full-time and full-time equivalents; and
(3) functional classification (e.g.,
				operating, maintenance, administrative);
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 202 - Budget And Financial And Strategic Operation Plan Format, Supporting Documentation And Monitoring-metropolitan Transportation Authority › Section 202.5 - Monitoring the budget and plan

Current through Register Vol. 46, No. 28, July 10, 2024
The MTA shall prepare and make available for public
				  inspection one or more reports on the following:
(a) Within 60 days of the release of the
				adopted budget and any updates to the budget (except any updates released
				within 90 days of the close of the current fiscal year):
(1) monthly projections for the current
				fiscal year of all revenues and expenses, in a format consistent with the
				budget and plan;
(2) monthly
				projections for the current fiscal year of all receipts and disbursements, in a
				format consistent with the budget and plan;
(3) monthly projections for the current
				fiscal year of staffing for the MTA and each of the MTA agencies, in a format
				consistent with section
				202.4(b) 
				of this Part; and
(4) monthly
				projections for the current fiscal year of utilization for each of the MTA
				agencies that operate transportation systems, including bridges and
				tunnels.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 202 - Budget And Financial And Strategic Operation Plan Format, Supporting Documentation And Monitoring-metropolitan Transportation Authority › Section 202.6 - Strategic operation plan

Current through Register Vol. 46, No. 28, July 10, 2024
Financial information required to be submitted by the MTA
				  pursuant to paragraphs (d) and (e) of subdivision (1) of section 1269-d  of the Public Authorities Law for
				  operating resources and costs shall be presented in a format consistent with
				  the budget and plan.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 203 - Budget And Financial Plan Format, Supporting Documentation And Monitoring-public Authorities › Section 203.1 - Purpose

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Purpose.
The purpose of this Part is to set forth specific
				  requirements in connection with the submission and format of, the preparation
				  of supporting documentation for, and the monitoring of, annual budgets and
				  financial plans of the public authorities covered by this Part. All
				  requirements of this Part apply immediately upon the effective date of this
				  Part, except as otherwise consented to by the State Comptroller at the request
				  of individual public authorities, upon good cause shown.
The following terms are defined as follows for the purposes
				  of this Part:
(1) Affiliate or
				affiliated with shall mean a corporate body or company controlling, controlled
				by, or under common control with another corporate body.
(2) Subsidiary shall mean a corporate body or
				company:
(i) having more than half of its
				voting shares owned or held by a public authority or other public corporation
				covered by this Part; or
(ii)
				having a majority of its directors, trustees or members in common with the
				directors, trustees or members of a public authority or other public
				corporation covered by this Part or as designees of a public authority or other
				public corporation covered by this Part.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 203 - Budget And Financial Plan Format, Supporting Documentation And Monitoring-public Authorities › Section 203.2 - Applicability

Current through Register Vol. 46, No. 28, July 10, 2024
Except as provided in the next sentence, this Part shall
				  apply to every authority, commission or public benefit corporation identified
				  as a ''public authority'' in section
				  203.1  of this Part, unless a waiver
				  is granted by the State Comptroller upon good cause shown. The Metropolitan
				  Transportation Authority and its Agencies shall continue to be governed by Part
				  202 of this Title with the exception that sections
				  203.4(a)-(e),
				  203.6(d)-(g), and
				  203.8(b) and (c) 
				  of this Part shall also apply to the Metropolitan Transportation Authority and
				  its agencies; provided, however, that with respect to the Metropolitan
				  Transportation Authority and its agencies, the definitions set forth in Part
				  202 of this Chapter shall be used for purposes of determining compliance with
				  the applicable provisions of this Part.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 203 - Budget And Financial Plan Format, Supporting Documentation And Monitoring-public Authorities › Section 203.3 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
For purposes of this Part:
(a) Board shall mean the governing board,
				members of the public authority, board of directors, board of trustees or
				trustees or other similar governing body as described in the laws, articles of
				incorporation or corporate by-laws creating and/or governing the
				authority.
(b) Budget shall mean
				the proposed and approved budgets, and any amendments or modifications thereto,
				of the public authority. The budget shall include all the organizations,
				programs, activities, and functions of the public authority that comprise its
				accounting entity in accordance with accounting principles generally accepted
				in the United States of America.
(c) Chief financial officer shall mean the
				treasurer, chief fiscal officer or other executive level officer directly
				responsible for overseeing the financial activities of the public
				authority.
(d) Chief operating
				officer shall mean the executive director or other executive level officer
				responsible for overseeing the day-to-day activities of the public
				authority.
(e) Debt shall mean
				bonds, notes, contractual financing arrangements, or other evidences of
				indebtedness issued by the public authority for any purpose.
(f) Financial plan shall mean the budget for
				the current fiscal year and revenue and expenditure projections, in a format
				consistent with the budget, for at least the three following years.
(g) Gap shall mean the difference between
				projected revenues and other financing sources and expenditures and other
				financing uses for any given fiscal year before proposed management actions
				that would increase revenues or reduce costs.
(h) Gap-closing program shall mean any
				combination of management actions that reduce costs or increase revenues that
				lower a gap in any given fiscal year.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 203 - Budget And Financial Plan Format, Supporting Documentation And Monitoring-public Authorities › Section 203.4 - Submission of budgets and financial plans

Current through Register Vol. 46, No. 28, July 10, 2024
(a) All public authorities shall prepare an
				annual budget and financial plan in accordance with this Part.
(b) The budget and financial plan, and all
				amendments or modifications thereto, shall be approved by the Board.
(c) All proposed budgets and financial plans
				shall be made available for public inspection at least 30 days before approval
				by the board, and not less than 60 days before the commencement of the next
				fiscal year.
(d) All approved
				budgets and financial plans shall be made available for public inspection,
				whenever practicable, not less than seven days before the commencement of the
				next fiscal year, and shall be submitted to the State Comptroller within seven
				days of approval by the board, in an electronic format prescribed by the State
				Comptroller.
(e) For purposes of
				making budgets and financial plans available for public inspection under
				subdivisions (c) and (d) of this section, the public authority shall make the
				budgets and financial plans available for a period of not less than 45 days in
				not less than five convenient public places throughout the area of jurisdiction
				of the authority and notify the State Comptroller of such locations. The public
				authority shall also post the budgets and financial plans on its website, if
				any.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 203 - Budget And Financial Plan Format, Supporting Documentation And Monitoring-public Authorities › Section 203.5 - Budget and financial plan format

Current through Register Vol. 46, No. 28, July 10, 2024
Each budget and financial plan shall:
(a) be prepared in accordance with accounting
				principles generally accepted in the United States of America on a modified
				accrual basis. When an organization, program, activity or function that is
				reportable under such principles is not included in the budget, the budget
				shall clearly disclose this exclusion and the associated
				justification;
(b) be based on
				reasonable assumptions and methods of estimation;
(c) be organized in a manner consistent with
				the authority's programmatic and functional activities;
(d) include detailed estimates of projected
				operating revenues and other sources of funding;
(e) include detailed estimates of personal
				service expenses related to employees (e.g., salary and wage costs, overtime,
				health insurance and pension costs) and personal service contracts with outside
				contractors;
(f) include detailed
				estimates of non-personal service operating expenses (e.g., materials and
				supplies, contracts, and rentals);
(g) include estimates of projected debt
				service expenditures; and
(h)
				include a corresponding cash budget and financial plan, and identify all
				material cash adjustments.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 203 - Budget And Financial Plan Format, Supporting Documentation And Monitoring-public Authorities › Section 203.6 - Budget and financial plan presentation

Current through Register Vol. 46, No. 28, July 10, 2024
Each budget or financial plan shall be accompanied by:
(a) an explanation of the public authority's
				relationship with the unit or units of government, if any, on whose behalf or
				benefit the authority was established;
(b) a description of the budget process,
				including the dates of key budget decisions;
(c) a description of the principal budget
				assumptions, including sources of revenues, staffing and future collective
				bargaining costs, and programmatic goals;
(d) a self-assessment of budgetary
				risks;
(e) a revised forecast of
				the current year's budget;
(f) a
				reconciliation that identifies all changes in estimates from the projections in
				the previously approved budget or plan;
(g) a statement of the last completed fiscal
				year's actual financial performance in categories consistent with the proposed
				budget or financial plan;
(h) a
				projection of the number of employees, including sources of funding, the
				numbers of full-time and full-time equivalents, and functional
				classifications;
(i) a statement of
				each revenue-enhancement and cost-reduction initiative that represents a
				component of any gap-closing program and the annual impact on revenues,
				expenses and staffing;
(j) a
				statement of the source and amount of any material non-recurring resource that
				is planned for use in any given fiscal year;
(k) a statement of any transactions that
				shift material resources from one year to another and the amount of any
				reserves;
(l) a statement of
				borrowed debt projected to be outstanding at the end of each fiscal year
				covered by the budget or financial plan; the planned use or purpose of debt
				issuances; scheduled debt service payments for both issued and proposed debt;
				the principal amount of proposed debt and assumed interest rate(s); debt
				service for each issuance as a percentage of total pledged revenues, listed by
				type or category of pledged revenues; cumulative debt service as a percentage
				of available revenues; and amount of debt that can be issued until legal limits
				are met; and
(m) a statement of the
				annual projected capital cost broken down by category and sources of funding,
				and for each capital project, estimates of the annual commitment, total project
				cost, expected date of completion and the annual cost for operating and
				maintaining those capital projects or capital categories that, when placed into
				service, are expected to have a material impact on the operating
				budget.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 203 - Budget And Financial Plan Format, Supporting Documentation And Monitoring-public Authorities › Section 203.7 - Supporting documentation

Current through Register Vol. 46, No. 28, July 10, 2024
The public authority shall prepare working papers that detail
				  the assumptions and methods of estimation used to calculate all operating and
				  capital budget projections, consistent with prudent budgetary practices. The
				  working papers shall be completed contemporaneously with the release of the
				  budget or plan and shall include a statement supporting the reasonableness of
				  each estimate, and the underlying information on which the estimate is based,
				  such as actual results from prior years, inflationary trends and economic data,
				  assumptions regarding the cost of future collective bargaining agreements,
				  utilization, demographic and other pertinent data.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 203 - Budget And Financial Plan Format, Supporting Documentation And Monitoring-public Authorities › Section 203.8 - Reporting

Current through Register Vol. 46, No. 28, July 10, 2024
The chief financial officer shall:
(a) provide to the board a written mid-year
				update on the budget and associated financial plan and should present at least
				quarterly updates to the board on the status of actual revenues and expenses
				compared to annual budget targets. The mid-year report shall explain and
				quantify material variances that are due to timing or have a budgetary impact,
				and include an assessment of the annual impact. The report also shall include
				the status of capital projects, including but not limited to, commitments,
				expenditures and completions, and an explanation of material cost overruns and
				delays;
(b) report publicly not
				later than 90 days after the close of each fiscal year on actual versus
				budgeted results; and
(c) inform
				the State Comptroller in writing at any point during the fiscal year when the
				chief financial officer learns of the potential financial impact of any adverse
				development that would materially affect the budget or financial
				plan.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 203 - Budget And Financial Plan Format, Supporting Documentation And Monitoring-public Authorities › Section 203.9 - Certification

Current through Register Vol. 46, No. 28, July 10, 2024
Included in each budget and financial plan shall be a
				  certification by the chief operating officer to the effect that, to the best of
				  his or her knowledge and belief after reasonable inquiry, the budget or plan,
				  as the case may be, is based on reasonable assumptions and methods of
				  estimation and that these regulations have been satisfied. The certification
				  shall be presented to the board and shall be released to the public along with
				  the budget or financial plan, as the case may be.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 204 - Accounting And Reporting For Public Authorities That Issue State-supported Debt › Section 204.1 - Purpose

Current through Register Vol. 46, No. 28, July 10, 2024
The purpose of this Part is to set forth requirements in
				  connection with the preparation, submission, and formatting of data relating to
				  the accounting and reporting of debt (as defined below) for State financial
				  reporting purposes.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 204 - Accounting And Reporting For Public Authorities That Issue State-supported Debt › Section 204.2 - Applicability

Current through Register Vol. 46, No. 28, July 10, 2024
This Part shall apply to every issuer of debt (as defined
				  below) other than the State Comptroller. All requirements of this Part apply
				  immediately upon the effective date of this Part, except as otherwise consented
				  to by the State Comptroller upon timely request and for good cause shown. The
				  requirements of this Part shall only be satisfied by a submission in accordance
				  with section
				  204.7 
				  of this Part.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 204 - Accounting And Reporting For Public Authorities That Issue State-supported Debt › Section 204.4 - Submission of documents and information after the issuance of debt

Current through Register Vol. 46, No. 28, July 10, 2024
Within 15 days after the date of issuance, the issuer of debt
				  shall furnish to the State Comptroller the following information:
(a) a copy of the official statement for the
				debt issuance in electronic document form;
(b) a schedule of sources and uses of
				proceeds associated with the debt that clearly sets forth:
(1) any market premium or market
				discount;
(2) the amount of debt
				proceeds to be used to pay issuance costs excluding underwriters' discount and
				State bond issuance fees;
(3) the
				amount of proceeds to be used to pay State bond issuance fees;
(4) the amount of proceeds to be used to pay
				the underwriters' discount;
(5) the
				amount of proceeds to be deposited to the project proceeds account;
(6) the amount of proceeds to be deposited to
				a reserve fund that could be used to pay debt service; and
(7) the amount of proceeds to be deposited to
				an account that will be used to make debt service payments;
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 204 - Accounting And Reporting For Public Authorities That Issue State-supported Debt › Section 204.5 - Submission of required information after the end of each state fiscal year quarter

Current through Register Vol. 46, No. 28, July 10, 2024
Within 25 days after the completion of each State fiscal year
				  quarter, each issuer of debt will submit to the State Comptroller, in
				  electronic format, the following information for all debt the issuer is
				  statutorily authorized to issue as of the end of that State fiscal year
				  quarter, in each case, discretely presented for each separate statutory
				  authorization:
(a) the amount of debt
				authorized to be issued;
(b) the
				cumulative amount of debt that has been issued;
(c) the total par amount of bonds
				outstanding;
(d) the balance of
				unspent State-reported debt proceeds retained;
(e) the amount of State-reported debt
				proceeds disbursed during the calendar quarter;
(f) the balance of each State-reported debt
				service account.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 204 - Accounting And Reporting For Public Authorities That Issue State-supported Debt › Section 204.6 - Submission of required information after the end of each state fiscal year

Current through Register Vol. 46, No. 28, July 10, 2024
Each issuer of debt shall within 45 days of the end of the
				  State fiscal year submit to the State Comptroller, in electronic format, the
				  following additional information for each of its outstanding debt issues (as of
				  and for the State fiscal year just ended), in each case, discretely presented
				  for each separate statutory authorization:
(a) the amount of accrued interest on each
				State-reported debt issue;
(b) all
				changes occurring during the past twelve months to the balance of unearned debt
				accretion for State-reported debt;
(c) the amount of debt service paid during
				the prior 12 months from investment earnings administered by the issuer of
				State-reported debt;
(d) a schedule
				of future minimum debt service based upon rates in effect at the end of the
				State fiscal year, discretely presenting the principal, interest, swap
				agreement receipts and swap agreement payments by payment date;
(e) a schedule of future minimum debt service
				based upon rates in effect at the end of the State fiscal year, discretely
				presenting the principal, interest, swap agreement receipts and swap agreement
				payments by payment date for debt related to the State University of New York
				(other than community colleges);
(f) a schedule of future minimum debt service
				based upon rates in effect at the end of the State fiscal year, discretely
				presenting the principal, interest, swap agreement receipts and swap agreement
				payments by payment for debt related to senior colleges of the City University
				of New York;
(g) the highest and
				lowest fixed rate of interest applicable to all State-reported debt
				outstanding;
(h) information
				relating to any arbitrage rebate liability applicable to all State-reported
				debt:
(1) the actual amount of arbitrage
				rebate liability paid during the year;
(2) the actual or estimated amount of
				arbitrage rebate liability due within one year;
(3) the actual or estimated amount of
				arbitrage rebate liability due beyond one year;
(4) any changes in estimated rebate
				liabilities during the year;
(5)
				the amount of any arbitrage rebate refunded during the year; and
(6) the amount of any arbitrage rebate refund
				anticipated.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 204 - Accounting And Reporting For Public Authorities That Issue State-supported Debt › Section 204.7 - Requirements applicable to submission of all information and other general provisions

Current through Register Vol. 46, No. 28, July 10, 2024
The following provisions are applicable to all documents,
				  data, and information required to be submitted to the State Comptroller
				  pursuant to this Part:
(a) All
				required information must be submitted in an electronic format prescribed by
				the Bureau of Financial Reporting, Office of the State Comptroller, to an
				internet or e-mail address specified by the Bureau of Financial
				Reporting.
(b) A public authority
				may apply for a waiver of any requirement set forth in this Part. A request
				submitted in an electronic format shall be submitted to an internet or e-mail
				address specified by the Bureau of Financial Reporting of the Office of the
				State Comptroller. A request submitted in a non-electronic format should be
				addressed to the Bureau of Financial Reporting, Office of the State
				Comptroller, 110 State Street, Albany, NY 12236-0001. A request from a
				reporting requirement should be submitted not later than the date on which the
				report is due. No waiver from a requirement established by law shall be
				granted. A waiver from a requirement established solely by this Part may be
				granted for reasonable cause unless such a waiver would interfere with the
				fulfillment of a duty of the State Comptroller. The Bureau of Financial
				Reporting shall transmit a written determination, in electronic format, of a
				waiver request to the public authority requesting the waiver. A determination
				approving a waiver shall specify:
(1) the
				scope of the waiver;
(2) the reason
				therefor; and
(3) the new reporting
				date, if the waiver involved the postponement of a reporting date otherwise
				required by this Part.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 205 - Security For Deposits Of Monies Of The New York State Thruway Authority › Section 205.1 - Security for deposits

Current through Register Vol. 46, No. 28, July 10, 2024
All deposits of monies of the New York State Thruway
				  Authority, from whatever source derived, shall be secured by obligations of the
				  United States or of the State of New York of a market value equal at all times
				  to the amount of the deposit.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 205 - Security For Deposits Of Monies Of The New York State Thruway Authority › Section 205.2 - Effective date

Current through Register Vol. 46, No. 28, July 10, 2024
This regulation shall take effect immediately and shall be
				  filed in the Department of Audit and Control, and a duplicate original copy
				  hereof shall be filed in the Department of State.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 206 - Comptroller Approval Of Contracts Made By State Authorities › Section 206.1 - Purpose

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The purpose of
				this Part is to set forth:
(1) the standards
				for the Comptroller's determination of State authority contracts and contract
				amendments subject to the Comptroller's approval;
(2) the criteria for the Comptroller's
				approval of such contracts and contract amendments;
(3) the responsibilities of State authorities
				with respect to the filing of exempt contracts and exempt contract amendments,
				certain eligible contracts and certain eligible contract amendments as defined
				in this Part; and
(4) the
				procedural requirements for overall compliance with section 2879-a  of the Public Authorities
				Law.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 206 - Comptroller Approval Of Contracts Made By State Authorities › Section 206.2 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
For purposes of this Part:
(a) Competitive procurement shall mean a
				procurement where a State authority has:
(1)
(i) published notice of the contract
				opportunity consistent with any statutory publication requirement including,
				but not limited to, article 4-c of the Economic Development Law, or, where
				there is no express statutory requirement for published notice, in the
				procurement opportunities newsletter or another newspaper, journal or
				periodical which is reasonably designed to give notice of the contract
				opportunity to all offerers capable of providing the requisite product, service
				or work to be performed; and further that such notice, wherever published, is
				reasonably designed to solicit bids, proposals or offers from all qualified
				offerers in response thereto; or
(ii) provided notice of the contract
				opportunity by soliciting bids, proposals or offers through some other method
				expressly authorized by statute, where such statute has deemed such other
				method to be competitive; and
(iii)
				awarded on the basis of a balanced and fair evaluation and selection method
				developed before the receipt of offers or bids; that is rational, objective and
				utilized a quantified scoring system, which evaluated all relevant factors such
				as cost (revenue), technical merits, or qualifications, and was applied equally
				to all qualified offerers.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 206 - Comptroller Approval Of Contracts Made By State Authorities › Section 206.3 - Annual reporting requirement for eligible contracts and eligible contract amendments

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				No later than 30 days before the end of the State authority's fiscal year,
				every State authority shall submit to the Office of the State Comptroller a
				report, in such form as prescribed by the Comptroller, which includes a
				description of every eligible contract and eligible contract amendment which
				the State authority reasonably anticipates entering into in the following
				fiscal year; provided, however, that the following eligible contract amendments
				shall not be included in such reports:
(1)
				construction contract change orders that do not exceed $100,000; and
(2) agreements to extend the duration of a
				contract for which there is no change in contract amount.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter V - Public Authorities › Part 206 - Comptroller Approval Of Contracts Made By State Authorities › Section 206.4 - Determination of eligible contracts and eligible contract amendments subject to the comptroller's approval

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
(1) The
				Comptroller shall periodically determine which eligible contracts and eligible
				contract amendments shall be subject to the Comptroller's approval.
(2) Once the Comptroller has determined that
				any eligible contract, eligible contract amendment, category of eligible
				contracts or category of eligible contract amendments shall be subject to
				approval by the Comptroller, the Comptroller shall provide written notice of
				such determination to the affected State authorities as soon as
				practicable.
(3) Such written
				notice shall include instructions for submitting any such contracts or contract
				amendments and the period of time during which the State authority is required
				to submit the contracts and/or contract amendments.
(4) Where a State authority that is subject
				to the publication requirements contained in article 4-c of the Economic
				Development Law believes that an eligible contract, described in a written
				notice provided by the Comptroller pursuant to this section, is exempt from
				such requirements under paragraph (a) of subdivision 1 of section 144  of the Economic Development Law, the
				State authority must obtain the Comptroller's approval for such
				exemption.