§ 11 — General fiscal requirements relating to the corporation

New York § 11

• Jurisdiction: New York
• Law FDC: Facilities Development Corporation Act 359/68

Text

§ 11. General fiscal requirements relating to the corporation. 1. The\nchairman of the corporation shall annually, at such time as the governor\nmay request, prepare and submit to the governor and the director of the\nbudget, on behalf of the directors of the corporation, an itemized\nbudget request and any additional information required setting forth\nfinancial needs by programs for the administration of the corporation\nduring the next succeeding state fiscal year including information as to\nthe payment or provision for payment of obligations of the corporation\nexpected to be required during such year under the terms of all leases,\nsubleases and agreements expected to be undertaken by the corporation.\nThe governor shall annually submit his recommended budget for the\nadministration of the corporation to the legislature. The legislature\nshall act on such request and make appropriations for all administrative\nexpenses of the corporation.\n 2. The comptroller, or his legally authorized representative, is\nhereby authorized and empowered from time to time to examine the books\nand accounts of the corporation, including its receipts and\ndisbursements and any other matters relating to its financial standing.\nSuch an examination shall be conducted by the comptroller at least once\nevery five years; the comptroller is authorized, however, to accept from\nthe corporation, in lieu of such examination, an external examination of\nits books and accounts made at the request of the corporation.\n