N.Y. Public Authorities Law § 3668: Monitoring and review

§ 3668. Monitoring and review. Except as otherwise provided in section

thirty-six hundred sixty-nine of this title, the authority shall:

1. conduct meetings at least annually;

2. conduct audits of the Nassau county industrial development agency

established pursuant to section nine hundred twenty-two of the general

municipal law, the Nassau county off-track betting corporation

established pursuant to article five of the racing, pari-mutuel wagering

and breeding law, and the Nassau university medical center established

pursuant to section three thousand four hundred two of this chapter;

provided, however, that such audits shall to be completed no later than

December thirty-first, two thousand twenty-two, and shall continue on a

biennial basis for subsequent years thereafter. The authority shall make

its audit findings publicly available on its website and provide copies

of its respective reports to the governor, temporary president of the

senate, speaker of the assembly, and authorities budget office;

3. investigate, within the county and covered organizations, potential

violations of the provisions of this chapter, fiscal mismanagement or

systemic negligence; provided further that the authority shall provide

an annual report to the governor, temporary president of the senate,

speaker of the assembly, and authorities budget office detailing such

investigations;

4. obtain from the county or the Nassau health care corporation all

information required pursuant to this section, and such other financial

statements and projections, budgetary data and information, and

management reports and materials as the authority deems necessary or

desirable to accomplish the purposes of this title;

5. recommend to the county and the covered organizations such measures

relating to their operation, management, efficiency and productivity as

the authority deems appropriate to reduce costs and improve services so

as to advance the purposes of this title;

6. consult with the county in the preparation of the budget of the

county, and consult with the Nassau health care corporation in the

preparation of the budget of the Nassau health care corporation;

7. with respect to any county or Nassau health care corporation

borrowing proposed to be issued after July first, two thousand, review

the terms of and comment, within thirty days after notification by the

county or the Nassau health care corporation of a proposed borrowing, on

the prudence of each proposed issuance of bonds or notes to be issued by

the county or the Nassau health care corporation and no such borrowing

shall be made unless first reviewed and commented upon by the authority.

The authority shall provide such comments within thirty days after

notification by the county or the Nassau health care corporation of a

proposed borrowing to the county executive, the comptroller, the

legislature, the director of the budget and the state comptroller;

8. determine whether to make transitional state aid available, and on

what schedule, based upon the county's compliance with the requirements

of sections thirty-six hundred sixty-six and thirty-six hundred

sixty-seven of this title, as applicable, and the requirements, if any,

of the appropriations bills authorizing such transitional state aid; and

9. perform such audits and reviews of the county and any agency

thereof and any covered organizations as it deems necessary.