N.Y. Public Authorities Law § 1276-a: Annual audit of authority

§ 1276-a. Annual audit of authority. The comptroller shall conduct an

annual audit of the books and records of the authority and its

subsidiary corporations. Such audit shall include a complete and

thorough examination of such authority's receipts, disbursements,

revenues and expenses during the prior fiscal year in accordance with

the categories or classifications established by such authority for its

own operating and capital outlay purposes; assets and liabilities at the

end of its last fiscal year including the status of reserve,

depreciation, special or other funds and including the receipts and

payments of these funds; schedule of bonds and notes outstanding at the

end of its fiscal year and their redemption dates, together with a

statement of the amounts redeemed and incurred during such fiscal year;

operations, debt service and capital construction during the prior

fiscal year.

The comptroller, upon completion of such audit, shall within sixty

days thereafter, report to the governor and the legislature his

findings, conclusions and recommendations thereof.