N.Y. Public Authorities Law § 2800: Annual reports by authorities

§ 2800. Annual reports by authorities. 1. State authorities. (a) For

the purpose of furnishing the state with systematic information

regarding the status and the activities of public authorities, every

state authority continued or created by this chapter or any other

chapter of the laws of the state of New York shall submit to the

governor, the chairman and ranking minority member of the senate finance

committee, the chairman and ranking minority member of the assembly ways

and means committee, the state comptroller, and the authorities budget

office, within ninety days after the end of its fiscal year, a complete

and detailed report or reports setting forth: (1) its operations and

accomplishments; (2) its financial reports, including (i) audited

financials in accordance with all applicable regulations and following

generally accepted accounting principles as defined in subdivision ten

of section two of the state finance law, (ii) grant and subsidy

programs, (iii) operating and financial risks, (iv) current ratings, if

any, of its bonds issued by recognized municipal bond rating agencies

and notice of changes in such ratings, and (v) long-term liabilities,

including leases and employee benefit plans; (3) its mission statement

and measurements including its most recent measurement report; (4) a

schedule of its bonds and notes outstanding at the end of its fiscal

year, together with a statement of the amounts redeemed and incurred

during such fiscal year as part of a schedule of debt issuance that

includes the date of issuance, term, amount, interest rate and means of

repayment. Additionally, the debt schedule shall also include all

refinancings, calls, refundings, defeasements and interest rate exchange

or other such agreements, and for any debt issued during the reporting

year, the schedule shall also include a detailed list of costs of

issuance for such debt; (5) a compensation schedule, in addition to the

report described in section twenty-eight hundred six of this title, that

shall include, by position, title and name of the person holding such

position or title, the salary, compensation, allowance and/or benefits

provided to any officer, director or employee in a decision making or

managerial position of such authority whose salary is in excess of one

hundred thousand dollars; (5-a) biographical information, not including

confidential personal information, for all directors and officers and

employees for whom salary reporting is required under subparagraph five

of this paragraph; (6) the projects undertaken by such authority during

the past year; (7) a listing and description, in addition to the report

required by paragraph a of subdivision three of section twenty-eight

hundred ninety-six of this article of all real property of such

authority having an estimated fair market value in excess of fifteen

thousand dollars that the authority acquires or disposes of during such

period. The report shall contain the price received or paid by the

authority and the name of the purchaser or seller for all such property

sold or bought by the authority during such period; (8) such authority's

code of ethics; (9) an assessment of the effectiveness of its internal

control structure and procedures; (10) a copy of the legislation that

forms the statutory basis of the authority; (11) a description of the

authority and its board structure, including (i) names of committees and

committee members, (ii) lists of board meetings and attendance, (iii)

descriptions of major authority units, subsidiaries, and (iv) number of

employees; (12) its charter, if any, and by-laws; (13) a listing of

material changes in operations and programs during the reporting year;

(14) at a minimum a four-year financial plan, including (i) a current

and projected capital budget, and (ii) an operating budget report,

including an actual versus estimated budget, with an analysis and

measurement of financial and operating performance; (15) its board

performance evaluations; provided, however, that such evaluations shall

not be subject to disclosure under article six of the public officers

law; (16) a description of the total amounts of assets, services or both

assets and services bought or sold without competitive bidding,

including (i) the nature of those assets and services, (ii) the names of

the counterparties, and (iii) where the contract price for assets

purchased exceeds fair market value, or where the contract price for

assets sold is less than fair market value, a detailed explanation of

the justification for making the purchase or sale without competitive

bidding, and a certification by the chief executive officer and chief

financial officer of the public authority that they have reviewed the

terms of such purchase or sale and determined that it complies with

applicable law and procurement guidelines; and (17) a description of any

material pending litigation in which the authority is involved as a

party during the reporting year, except that no hospital need disclose

information about pending malpractice claims beyond the existence of

such claims.

(b) Each state authority shall make accessible to the public, via its

official or shared internet web site, documentation pertaining to its

mission, current activities, most recent annual financial reports,

current year budget and its most recent independent audit report unless

such information is covered by subdivision two of section eighty-seven

of the public officers law.

(c) The authorities budget office shall make accessible to the public,

via its official or shared internet web site, documentation pertaining

to each authority's mission, current activities, most recent annual

financial reports, current year budget and its most recent independent

audit report unless such information is covered by subdivision two of

section eighty-seven of the public officers law.

2. Local authorities. (a) Every local authority, continued or created

by this chapter or any other chapter of the laws of the state of New

York shall submit to the chief executive officer, the chief fiscal

officer, the chairperson of the legislative body of the local government

or local governments and the authorities budget office, within ninety

days after the end of its fiscal year, a complete and detailed report or

reports setting forth: (1) its operations and accomplishments; (2) its

financial reports, including (i) audited financials in accordance with

all applicable regulations and following generally accepted accounting

principles as defined in subdivision ten of section two of the state

finance law, (ii) grants and subsidy programs, (iii) operating and

financial risks, (iv) current ratings if any, of its bonds issued by

recognized municipal bond rating agencies and notice of changes in such

ratings, and (v) long-term liabilities, including leases and employee

benefit plans; (3) its mission statement and measurements including its

most recent measurement report; (4) a schedule of its bonds and notes

outstanding at the end of its fiscal year, together with a statement of

the amounts redeemed and incurred during such fiscal year as part of a

schedule of debt issuance that includes the date of issuance, term,

amount, interest rate and means of repayment. Additionally, the debt

schedule shall also include all refinancings, calls, refundings,

defeasements and interest rate exchange or other such agreements, and

for any debt issued during the reporting year, the schedule shall also

include a detailed list of costs of issuance for such debt; (5) a

compensation schedule in addition to the report described in section

twenty-eight hundred six of this title that shall include, by position,

title and name of the person holding such position or title, the salary,

compensation, allowance and/or benefits provided to any officer,

director or employee in a decision making or managerial position of such

authority whose salary is in excess of one hundred thousand dollars;

(5-a) biographical information, not including confidential personal

information, for all directors and officers and employees for whom

salary reporting is required under subparagraph five of this paragraph;

(6) the projects undertaken by such authority during the past year; (7)

a listing and description, in addition to the report required by

paragraph a of subdivision three of section twenty-eight hundred

ninety-six of this article of all real property of such authority having

an estimated fair market value in excess of fifteen thousand dollars

that the authority acquires or disposes of during such period. The

report shall contain the price received or paid by the authority and the

name of the purchaser or seller for all such property sold or bought by

the authority during such period; (8) such authority's code of ethics;

(9) an assessment of the effectiveness of its internal control structure

and procedures; (10) a copy of the legislation that forms the statutory

basis of the authority; (11) a description of the authority and its

board structure, including (i) names of committees and committee

members, (ii) lists of board meetings and attendance, (iii) descriptions

of major authority units, subsidiaries, (iv) number of employees, and

(v) organizational chart; (12) its charter, if any, and by-laws; (13) a

listing of material changes in operations and programs during the

reporting year; (14) at a minimum a four-year financial plan, including

(i) a current and projected capital budget, and (ii) an operating budget

report, including an actual versus estimated budget, with an analysis

and measurement of financial and operating performance; (15) its board

performance evaluations provided, however, that such evaluations shall

not be subject to disclosure under article six of the public officers

law; (16) a description of the total amounts of assets, services or both

assets and services bought or sold without competitive bidding,

including (i) the nature of those assets and services, (ii) the names of

the counterparties, and (iii) where the contract price for assets

purchased exceeds fair market value, or where the contract price for

assets sold is less than fair market value, a detailed explanation of

the justification for making the purchase or sale without competitive

bidding, and a certification by the chief executive officer and chief

financial officer of the public authority that they have reviewed the

terms of such purchase or sale and determined that it complies with

applicable law and procurement guidelines; and (17) a description of any

material pending litigation in which the authority is involved as a

party during the reporting year, except that no provider of medical

services need disclose information about pending malpractice claims

beyond the existence of such claims.

(b) Each local authority shall make accessible to the public, via its

official or shared internet web site, documentation pertaining to its

mission, current activities, most recent annual financial reports,

current year budget and its most recent independent audit report unless

such information is covered by subdivision two of section eighty-seven

of the public officers law.

3. Every financial report submitted under this section shall be

approved by the board and shall be certified in writing by the chief

executive officer and the chief financial officer of such authority that

based on the officer's knowledge (a) the information provided therein is

accurate, correct and does not contain any untrue statement of material

fact; (b) does not omit any material fact which, if omitted, would cause

the financial statements to be misleading in light of the circumstances

under which such statements are made; and (c) fairly presents in all

material respects the financial condition and results of operations of

the authority as of, and for, the periods presented in the financial

statements.

4. The authorities budget office may, upon application of any

authority, waive any requirements of this section upon a showing that

the authority meets the criteria for such a waiver established by

regulations of the authorities budget office. Such regulations shall

provide for consideration of: (a) the number of employees of the

authority; (b) the annual budget of the authority; (c) the ability of

the authority to prepare the required reports using existing staff; and

(d) such other factors as the authorities budget office deems to reflect

the relevance of the required disclosures to evaluation of an

authority's effective operation, and the burden such disclosures place

on an authority. Each waiver granted pursuant to this subdivision shall

be disclosed in the reports of such office issued pursuant to section

seven of this chapter.