§ 1276-B — Authority budget and financial plan

§ 1276-b. Authority budget and financial plan. 1. In addition to the\nrequirements of section twenty-eight hundred two of this chapter, each\nauthority budget and plan shall be posted on its website and shall: (a)\npresent information relating to the authority and each of its agencies\nin a clear and consistent manner and format; (b) be prepared in\naccordance with generally accepted accounting principles, except as\notherwise consented to by the comptroller upon good cause shown; (c) be\nbased on reasonable assumptions and methods of estimation; (d) include\nestimates of projected operating revenues and expenses; (e) identify any\nplanned transaction that would shift resources, from any source, from\none fiscal year to another, and the amount of any reserves; and (f)\ncontain a summary in plain English of the principal information in the\nbudget and conclusions to be drawn from it.\n 2. Supporting documentation. The authority shall prepare and make\navailable for public inspection on its website information that details\nthe sources of data and the assumptions and methods of estimation used\nto calculate all operating and capital budget projections, consistent\nwith generally accepted budgetary practices.\n 3. The authority shall establish at least annually the quarterly\nrevenue and expense targets for the authority, and for each subsidiary\nor other authority created by the authority itself and for which it\nreports financial data.\n 4. Monitoring the budget and financial plan. The authority shall\nprepare and make available for public inspection on its website: (a)\nwithin sixty days of the release of the adopted budget and any updates\nto the budget (except updates released within ninety days of the close\nof the fiscal year), monthly projections for the current fiscal year of\nall revenues and expenses, staffing for the authority and each of its\nagencies, and utilization for each of the authority's agencies that\noperate transportation systems, including bridges and tunnels; (b)\nwithin sixty days after the close of each quarter, a comparison of\nactual revenues and expenses, actual staffing and actual utilization to\nplanned or projected levels for each of the authority's agencies that\noperate transportation systems, including bridges and tunnels, with an\nexplanation of each material variance and its budgetary impact; and (c)\nwithin ninety days after the close of each quarter, the status of each\ngap-closing initiative with a projected value greater than one million\ndollars in any given fiscal year; the status of capital projects by\ncapital element, including but not limited to commitments, expenditures\nand completions; and an explanation of material variances from the plan,\ncost overruns and delays.\n 5. Strategic operation plan. Financial information required to be\nsubmitted by the authority pursuant to paragraphs d and e of subdivision\none of section twelve hundred sixty-nine-c of this title shall be\npresented in a format consistent with the budget and plan, in\ndownloadable, searchable format.\n 6. The authority shall publish all data pertaining to each authority's\nbudget and financial plans as required by this section in a common,\nmachine readable format on the authority's website as defined by\nexecutive order number ninety-five of two thousand thirteen, "Using\nTechnology to Promote Transparency, Improve Government Performance and\nEnhance Citizen Engagement" or any successor order. Such data shall\ninclude, but not be limited to:\n (a) estimates of projected operating revenues and expenses, including\nmonthly projections for the current fiscal year of all revenues and\nexpenses;\n (b) quarterly revenue and expense targets;\n (c) staffing for the authority and each of its agencies;\n (d) a comparison of actual revenues and expenses, actual staffing and\nactual utilization to planned or projected levels for each of the\nauthority's agencies that operate transportation systems;\n (e) the status of each gap-closing initiative with a projected value\ngreater than one million dollars in any given fiscal year; and\n (f) the status of capital projects by capital element, including but\nnot limited to commitments, expenditures and completions; and material\nvariances from the plan, cost overruns and delays.\n 7. The data required to be published pursuant to this section shall be\nmade in a single tabular data file in a common, machine readable format\nand shall be accessible on the authority's website and the website\ndata.ny.gov or such other successor website maintained by, or on behalf\nof, the state, as deemed appropriate by the New York state office of\ninformation technology services under executive order number ninety-five\nof two thousand thirteen, or any successor agency or order.\n