N.Y. Public Authorities Law § 1276-b: Authority budget and financial plan

§ 1276-b. Authority budget and financial plan. 1. In addition to the

requirements of section twenty-eight hundred two of this chapter, each

authority budget and plan shall be posted on its website and shall: (a)

present information relating to the authority and each of its agencies

in a clear and consistent manner and format; (b) be prepared in

accordance with generally accepted accounting principles, except as

otherwise consented to by the comptroller upon good cause shown; (c) be

based on reasonable assumptions and methods of estimation; (d) include

estimates of projected operating revenues and expenses; (e) identify any

planned transaction that would shift resources, from any source, from

one fiscal year to another, and the amount of any reserves; and (f)

contain a summary in plain English of the principal information in the

budget and conclusions to be drawn from it.

2. Supporting documentation. The authority shall prepare and make

available for public inspection on its website information that details

the sources of data and the assumptions and methods of estimation used

to calculate all operating and capital budget projections, consistent

with generally accepted budgetary practices.

3. The authority shall establish at least annually the quarterly

revenue and expense targets for the authority, and for each subsidiary

or other authority created by the authority itself and for which it

reports financial data.

4. Monitoring the budget and financial plan. The authority shall

prepare and make available for public inspection on its website: (a)

within sixty days of the release of the adopted budget and any updates

to the budget (except updates released within ninety days of the close

of the fiscal year), monthly projections for the current fiscal year of

all revenues and expenses, staffing for the authority and each of its

agencies, and utilization for each of the authority's agencies that

operate transportation systems, including bridges and tunnels; (b)

within sixty days after the close of each quarter, a comparison of

actual revenues and expenses, actual staffing and actual utilization to

planned or projected levels for each of the authority's agencies that

operate transportation systems, including bridges and tunnels, with an

explanation of each material variance and its budgetary impact; and (c)

within ninety days after the close of each quarter, the status of each

gap-closing initiative with a projected value greater than one million

dollars in any given fiscal year; the status of capital projects by

capital element, including but not limited to commitments, expenditures

and completions; and an explanation of material variances from the plan,

cost overruns and delays.

5. Strategic operation plan. Financial information required to be

submitted by the authority pursuant to paragraphs d and e of subdivision

one of section twelve hundred sixty-nine-c of this title shall be

presented in a format consistent with the budget and plan, in

downloadable, searchable format.

6. The authority shall publish all data pertaining to each authority's

budget and financial plans as required by this section in a common,

machine readable format on the authority's website as defined by

executive order number ninety-five of two thousand thirteen, "Using

Technology to Promote Transparency, Improve Government Performance and

Enhance Citizen Engagement" or any successor order. Such data shall

include, but not be limited to:

(a) estimates of projected operating revenues and expenses, including

monthly projections for the current fiscal year of all revenues and

expenses;

(b) quarterly revenue and expense targets;

(c) staffing for the authority and each of its agencies;

(d) a comparison of actual revenues and expenses, actual staffing and

actual utilization to planned or projected levels for each of the

authority's agencies that operate transportation systems;

(e) the status of each gap-closing initiative with a projected value

greater than one million dollars in any given fiscal year; and

(f) the status of capital projects by capital element, including but

not limited to commitments, expenditures and completions; and material

variances from the plan, cost overruns and delays.

7. The data required to be published pursuant to this section shall be

made in a single tabular data file in a common, machine readable format

and shall be accessible on the authority's website and the website

data.ny.gov or such other successor website maintained by, or on behalf

of, the state, as deemed appropriate by the New York state office of

information technology services under executive order number ninety-five

of two thousand thirteen, or any successor agency or order.