N.Y. Pub. Auth. Law § 1829

Current through 2024 NY Law Chapter 457

Section 1829 - Submission of certain financial information

1. The authority shall submit to the governor, the chairman of the senate finance committee, the chairman of the assembly ways and means committee and the director of the budget, annually sixty days prior to the commencement of its fiscal year, (a) a copy of its strategic plan, for its next five fiscal years, adopted in accordance with the requirements of subdivision thirteen-a of section eighteen hundred four of this title; and (b) in such form or forms as may be prescribed by the director of the budget, financial information on its operations and loans setting forth its estimated income and moneys to be otherwise available, its expenditures and its loan activity for the next fiscal year and the current fiscal year of the authority, the actual moneys, income, expenditures and loan activity for the last completed fiscal year of the authority, (c) proposed changes, if any, in its charges and fees in respect of project applications and loans and (d) information regarding the manner in which, and the extent to which, the authority's activities during the last completed fiscal year and during the first half of the current fiscal year have served to further the goals and objectives and achieve the operational targets set forth in the strategic plan adopted pursuant to subdivision thirteen-a of section eighteen hundred four of this title.

2. The annual report submitted by the authority pursuant to the provisions of section twenty-eight hundred of this chapter shall set forth, in addition to the items enumerated in such section,

(a) a schedule of its loans which shall indicate the local development corporation through which financial assistance has been granted by the authority and the project occupant or business enterprise described in section eighteen hundred twenty-seven of this chapter for each assisted project, and information on the number of jobs projected to be created and the number projected to be retained by each of such assisted projects; and, based on the latest information available to the authority, the number of jobs actually created to date and the number actually retained to date by each of such assisted projects; and

(b) a listing of all bond counsel, accountants and other private consultants engaged by the authority on a contract basis and a statement of the total amount paid and yet to be paid under each such contract; and

(c) a schedule of all disbursements and commitments provided by the authority from funds the authority administers on behalf of the federal government including:

(i) grants, loans and loan guarantees for all projects undertaken by the fund;

(ii) administrative and operating expenses charged to the fund;

(iii) transfers of moneys from the fund to other fund accounts of the authority; and

(iv) any and all other information that may be requested by the director of the budget, chair of the senate finance committee and chair of the assembly ways and means committee; and

(d) a schedule of all receipts and receivables received by the authority into the funds the authority administers on behalf of the federal government including:

(i) transfer of moneys to the fund from other fund accounts of the authority;

(ii) income received by the fund from loans, loan guarantees, charges and all other sources; and

(iii) any and all other information that may be requested by the director of the budget, chair of the senate finance committee and chair of the assembly ways and means committee.

N.Y. Pub. Auth. Law § 1829