2012 New York Consolidated Laws
PBA - Public Authorities
Article 9 - GENERAL PROVISIONS
Title 1 - (2800 - 2806) REPORTS BY PUBLIC AUTHORITIES
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.