§ 2 — Definitions

New York § 2

• Jurisdiction: New York
• Law YFA: Yonkers financial emergency act 103/84

Text

§ 2. Definitions. As used in this act, the following words and terms\nshall have the following meanings unless the context shall indicate\nanother or different meaning or intent.\n 1. "Available funds" means at any date the amounts in the fund which\nare then available, as determined by the board, to be applied to the\npurposes stated in paragraph (iii) of subdivision four of section ten of\nthis act after provision has been made for the application of amounts in\nthe fund for the purposes stated in paragraphs (i) and (ii) of\nsubdivision four of section ten of this act.\n 2. "Board" means the governmental agency created by section six of\nthis act.\n 3. "City" means the city of Yonkers.\n 4. "City manager" means the city manager of the city of Yonkers.\n 5. "Comptroller" means the comptroller of the state of New York.\n 6. "Covered organization" means any governmental agency, public\nauthority or public benefit corporation which receives or may receive\nmoneys directly, indirectly or contingently, (other than moneys received\nfor the sale of goods or the rendering of services or the loan of moneys\nto the city) from the city, and in any event includes, without\nlimitation, the board of education of the city school district of the\ncity of Yonkers.\n Notwithstanding the foregoing, the board, by order made on its own\nmotion or on application of a covered organization may specifically\nexempt the organization from inclusion as a covered organization after a\nfinding by the board that an exemption does not materially affect the\nability of the city to adopt and maintain a budget pursuant to the\nprovisions of this act; provided that at the time of and during the\nperiod of the exemption there is supplied to the board, an annual audit\nby an independent certified public accounting firm (or by a public\naccountant licensed by the state of New York to conduct such audits) of\nthe organization's financial statements performed in accordance with\ngenerally accepted auditing standards and a report thereon by the\nauditor which includes an opinion that the audited financial statements\nhave been prepared in accordance with generally accepted accounting\nprinciples and any other information as the auditor deems appropriate;\nprovided further however, that the board may terminate the exemption\nafter a determination that the circumstances upon which the exemption\nwas granted are no longer applicable.\n In no event however, shall the term "covered organization" mean or\ninclude any governmental agency which is (i) a state public authority as\ndefined in section two hundred one of the civil service law, or (ii) a\ngovernmental agency, authority, commission or instrumentality created by\ncompact or agreement between the state of New York and another state or\nstates, or (iii) a subsidiary corporation of an agency described in (i)\nor (ii) hereof.\n 7. "Emergency period" means the period of time from the effective date\nof this act until the date when the board determines that (a) the\noperating and capital funds of the city shall have been in balance for\nthree fiscal years in accordance with the accounting methods prescribed\nfor the city's budget by the state comptroller pursuant to section\nthirty-six of the general municipal law, (b) the amount of all loans\nmade by the state to the city to fund the operating deficit incurred by\nthe city in its fiscal year ending June thirtieth, nineteen hundred\neighty-four or any fiscal year thereafter has been repaid in full, and\n(c) the city has presented a financial plan that projects operating and\ncapital fund balance for the four years covered by such plan in\naccordance with the accounting methods prescribed for the city's budget\nby the state comptroller pursuant to section thirty-six of the general\nmunicipal law.\n 8. "Financial plan" means the financial plan of the city and the\ncovered organizations to be developed pursuant to section nine of this\nact, as from time to time modified.\n 9. "Fund" means the emergency financial control board fund for the\ncity of Yonkers established pursuant to subdivision one of section ten\nof this act.\n 10. "Revenues" mean all taxes, federal and state aid, rents, fees,\ncharges, payments, all proceeds from borrowings and other income and\nreceipts paid or payable to or for the account of the city or any of the\ncovered organizations, subject to the requirements imposed by the\nspecial fiscal act.\n 11. "Special fiscal act" means the special local finance and budget\nact of the city of Yonkers, as enacted by chapter four hundred\neighty-eight of the laws of nineteen hundred seventy-six.\n 12. "Mayor" means the mayor of the city of Yonkers.\n