§ 1208 — Deposit of funds; report to court; annual audit 1

§ 1208. Deposit of funds; report to court; annual audit\n 1. All moneys collected shall be deposited by the public administrator\nin a state or national bank, savings bank, savings and loan association\nor trust company and shall, in case of the insolvency or voluntary or\ninvoluntary liquidation of the depositary be entitled to equal priority\nof payment with that given by law to deposits of moneys by the state\nsuperintendent of financial services.\n 2. The public administrator or chief fiscal officer of a county\nappointed administrator of an estate shall file monthly with the\nsurrogate of the county where appointed a statement of such of his\naccounts as have been closed or finally settled in such form as the\nsurrogate may prescribe. Each public administrator or chief fiscal\nofficer of a county appointed administrator of an estate shall file\nevery six months with the surrogate of the county where appointed all\nestate accounts that are unsettled, stating the date the estate was\nopened, the gross assets of the estate and a list of current charges and\ndisbursements of the estate.\n 3. Each public administrator shall conduct an annual audit of his\noffice by an independent certified public accountant and such a report\nbased on such audit shall be filed with the surrogate of the county\nwhere appointed, the attorney general of the state of New York and the\ncomptroller of the state of New York. The audit shall be conducted in\ncompliance with generally accepted government audit standards, and shall\ninclude a review of the performance of the office with respect to the\nguidelines and uniform fee schedules established by the administrative\nboard. The costs of such annual audit and report shall be included\nannually in the budget of the county of appointment; provided however\nthat any expenses of the public administrator's office permitted\npursuant to section 1106 of this act may be used to pay the costs of\nsuch audit.\n