2006 New York Code - Deposit Of Funds; Report To Court; Annual Audit

 
  § 1208. Deposit of funds; report to court; annual audit
    1. All moneys collected shall be deposited by the public administrator
  in  a state or national bank, savings bank, savings and loan association
  or trust company and shall, in case of the insolvency  or  voluntary  or
  involuntary  liquidation of the depositary be entitled to equal priority
  of payment with that given by law to deposits of  moneys  by  the  state
  superintendent of banks.
    2.    The  public  administrator  or  chief fiscal officer of a county
  appointed administrator  of  an  estate  shall  file  monthly  with  the
  surrogate  of  the  county  where  appointed  a statement of such of his
  accounts as have been closed or finally settled  in  such  form  as  the
  surrogate  may  prescribe.  Each  public  administrator  or chief fiscal
  officer of a county appointed administrator  of  an  estate  shall  file
  every  six  months  with the surrogate of the county where appointed all
  estate accounts that are unsettled, stating  the  date  the  estate  was
  opened, the gross assets of the estate and a list of current charges and
  disbursements of the estate.
    3.  Each  public  administrator  shall  conduct an annual audit of his
  office by an independent certified public accountant and such  a  report
  based  on  such  audit  shall  be filed with the surrogate of the county
  where appointed, the attorney general of the state of New York  and  the
  comptroller  of  the  state of New York. The audit shall be conducted in
  compliance with generally accepted government audit standards, and shall
  include a review of the performance of the office with  respect  to  the
  guidelines  and  uniform fee schedules established by the administrative
  board. The costs of such annual  audit  and  report  shall  be  included
  annually  in  the  budget of the county of appointment; provided however
  that  any  expenses  of  the  public  administrator's  office  permitted
  pursuant  to  section  1106  of this act may be used to pay the costs of
  such audit.