§ 1086. Audit of authority; annual report. In conformity with the provisions of section five of article ten of the constitution, the accounts of the authority shall be subject to the supervision of the state comptroller and such state comptroller and his legally authorized representatives are hereby authorized and empowered from time to time to examine the accounts and the books of the authority, including its receipts, disbursements, contracts, leases, sinking funds, investments and any other matters relating to its financial standing. The authority shall annually submit to the governor and to the legislature and also to the board of supervisors of Suffolk county a detailed report pursuant to the provisions of section twenty-eight hundred of this chapter. Notwithstanding the ninety day period set forth in paragraph (a) of subdivision two of section twenty-eight hundred of this chapter, the authority shall submit such detailed report within one hundred and twenty days after the end of its fiscal year.

Terms Used In N.Y. Public Authorities Law 1086

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.