§ 1269-E — Financial and operational reports

New York § 1269-E

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 11: Metropolitan Commuter Transportation Authority
• Art. 5: Public Utility Authorities

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§ 1269-e. Financial and operational reports. The authority shall\nsubmit to the governor, the temporary president of the senate and the\nspeaker of the assembly, no later than thirty days following the\nsubmission of the annual independent audit report pursuant to section\ntwenty-eight hundred two of this chapter, a complete detailed report or\nreports setting forth, to the extent such matters are not fully\naddressed in the annual independent audit report, the following:\n 1. its financial reports, including:\n a. audited financials in accordance with all applicable regulations\nand following generally accepted accounting principles as defined in\nsubdivision ten of section two of the state finance law;\n b. grant and subsidy programs;\n c. operating and financial risks;\n d. current ratings of its bonds issued by recognized municipal bond\nrating agencies and notice changes in such ratings; and\n e. long-term liabilities, including leases and employee benefit plans;\nand\n 2. an assessment of the effectiveness of its internal control\nstructure and procedures, including:\n a. descriptions of the authority and its major units and subsidiaries;\n b. the number of employees, and minority and women employees, for\neach;\n c. an organizational chart;\n d. its charter, if any and by-laws;\n e. the extent of participation by minority and women owned enterprises\nin authority contracts and services in accordance with article fifteen-A\nof the executive law; and\n f. a listing of material changes in internal operations and programs\nduring the reporting year.\n