2006 New York Code - Maintenance Of Records.

 
    * § 476. Maintenance of records. In connection with each contract, the
  commissioner  and  the  municipality  shall keep adequate records of the
  amount of the payment by the state, the amount of federal assistance, if
  any, received by the municipality for the project,  and  of  all  moneys
  expended  by the municipality for such project. Such records required to
  be kept by the commissioner shall establish the basis for recalculations
  of the state financial assistance as required herein.  The  commissioner
  shall have authority to carry out, or to cause to be carried out, audits
  of  such  contracts  and  records  pursuant  to  rules  and  regulations
  promulgated by the commissioner.
    * NB Not effective due to defeat of the  Transportation  Bond  Act  of
  2000