N.Y. Public Authorities Law § 1208: Revenue and accounts

§ 1208. Revenue and accounts. 1. The authority shall establish and

maintain a system of accounts to show at all times the cost of the

several classes of property used in operation and the sources of funds

used in the acquisition of such property; the several classes of

operating revenue and other income; maintenance expenses, interest, and

all other charges. To the extent consistent with this title, such

accounts shall be kept in accordance with the appropriate uniform system

of accounts prescribed by the public service commission and shall be

published monthly in the city record.

2. The moneys of the authority shall be deposited daily in banks to be

designated by the authority. Deposits may be secured by obligations of

or guaranteed by the United States, the state, or any municipal

corporation of the state or in such other manner as the authority may

provide, and all banks and trust companies are authorized to give such

security for such deposits. The comptroller shall have the power from

time to time, to examine the accounts, books and any other records or

papers relating to the financial condition of the authority, which

examination shall not preclude examination of such matters by any other

authorized officer or body.

3. Payments or withdrawals of moneys of the authority shall be made by

checks drawn and signed by a member or an officer of the authority, duly

authorized by resolution of the board.