§ 99-D — City university stabilization account

New York § 99-D

• Jurisdiction: New York
• Law STF: State Finance
• Art. 6: Funds of the State

Text

* § 99-d. City university stabilization account. 1. There is hereby\nestablished in the joint custody of the state comptroller and the\ncommissioner of taxation and finance an account to be known as the city\nuniversity stabilization account.\n 2. Such account shall consist of any and all unexpended and\nunencumbered moneys in the fiduciary fund appropriated for the city\nuniversity of New York senior colleges, net of reductions for\ndeficiencies in tuition and fee collections as determined by the\ndirector of the budget, available as of the last day of the city\nuniversity fiscal year as reduced pursuant to section six thousand two\nhundred twenty-one of the education law to reflect any aggregate amount\nestablished by the director of the budget less than the amount\nappropriated. Such moneys shall be transferred by the state comptroller\ninto the stabilization account on or before the next fifteenth day of\nSeptember succeeding the last day of the city university fiscal year.\n 3. Moneys of the account shall only be available to the city\nuniversity of New York and following appropriation by the legislature,\nshall be credited to the senior colleges and/or central administration\nstabilization subaccounts from which the savings were achieved.\nNotwithstanding section forty of this chapter, section six thousand two\nhundred twenty-one of the education law or any other law to the\ncontrary, all appropriations made from this account to the city\nuniversity of New York shall remain in full force and effect for two\nyears from the effective date of the chapter in which the appropriations\nwere made. Moneys shall be paid out of the account on the audit and\nwarrant of the state comptroller on vouchers certified or approved by\nthe chancellor of the city university of New York or his or her\ndesignee.\n * NB There are 2 § 99-d's\n