senate Bill S2482

Amended

Directs the metropolitan transportation authority to contract with a certified public accounting firm for the conducting of an independent forensic audit

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Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 17 / Jan / 2013
    • REFERRED TO TRANSPORTATION
  • 21 / May / 2013
    • REPORTED AND COMMITTED TO FINANCE
  • 12 / Jun / 2013
    • COMMITTEE DISCHARGED AND COMMITTED TO RULES
  • 12 / Jun / 2013
    • ORDERED TO THIRD READING CAL.1318
  • 13 / Jun / 2013
    • PASSED SENATE
  • 13 / Jun / 2013
    • DELIVERED TO ASSEMBLY
  • 13 / Jun / 2013
    • REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
  • 08 / Jan / 2014
    • DIED IN ASSEMBLY
  • 08 / Jan / 2014
    • RETURNED TO SENATE
  • 08 / Jan / 2014
    • REFERRED TO TRANSPORTATION
  • 10 / Feb / 2014
    • AMEND AND RECOMMIT TO TRANSPORTATION
  • 10 / Feb / 2014
    • PRINT NUMBER 2482A
  • 17 / Jun / 2014
    • COMMITTEE DISCHARGED AND COMMITTED TO RULES
  • 17 / Jun / 2014
    • ORDERED TO THIRD READING CAL.1430
  • 17 / Jun / 2014
    • PASSED SENATE
  • 17 / Jun / 2014
    • DELIVERED TO ASSEMBLY
  • 17 / Jun / 2014
    • REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

Summary

Directs the metropolitan transportation authority to contract with a certified public accounting firm for the conducting of an independent forensic audit of such authority.

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Bill Details

See Assembly Version of this Bill:
A2282
Versions:
S2482
S2482A
Legislative Cycle:
2013-2014
Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Add ยง1265-c, Pub Auth L
Versions Introduced in 2011-2012 Legislative Cycle:
S4637A, A7856A

Sponsor Memo

BILL NUMBER:S2482

TITLE OF BILL:
An act
to amend the public authorities law, in relation to directing the
metropolitan transportation authority
to contract for the provision of an
independent forensic audit of such authority; and providing for the
repeal of such provisions upon the expiration thereof

PURPOSE:
Directs the Metropolitan Transportation Authority to contract with a
certified public accounting firm for the conducting of an independent
forensic audit.

SUMMARY OF PROVISIONS:

Section one amends the public authorities law by adding a new section
1265-c.

Section two is the effective date.

JUSTIFICATION:
This bill is necessary to give the legislature and the taxpayers of
New York the ability to know how and where money is being spent for
the operations of the Metropolitan Transportation Authority (MTA).
While the MTA has been cutting services, raising fares and tolls, it
has also been getting additional revenue from the MTA payroll tax.
This measure would require the MTA to conduct a full independent
forensic audit of the authority to bring accountability to the MTA.
This audit will give the legislature and the public the ability to
know where funds are being spent. It will also be a blueprint to
implement future cost saving measures within the MTA. This bill will
ensure that revenue is being spent wisely and will also reveal ways
that the MTA can cut costs without harming the public's
transportation needs. The independent forensic audit, conducted by a
public accounting firm, must report its findings of the audit on or
before January 1, 2016.

LEGISLATIVE HISTORY:
2012: S.4637 - Referred to Finance/A.4856 Referred to Corporations
2011: Passed Senate/Referred to Corporations

FISCAL IMPLICATIONS: None to the State.

EFFECTIVE DATE:
This act shall take effect immediately, and shall expire and be deemed
repealed January 2, 2016.

view bill text
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  2482

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            January 17, 2013
                               ___________

Introduced  by  Sen.  LANZA  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Transportation

AN ACT to amend the public authorities law, in relation to directing the
  metropolitan transportation authority to contract for the provision of
  an independent forensic audit of such authority; and providing for the
  repeal of such provisions upon the expiration thereof

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The  public  authorities  law  is amended by adding a new
section 1265-c to read as follows:
  S 1265-C. INDEPENDENT FORENSIC AUDIT.  1.  NOTWITHSTANDING  ANY  OTHER
PROVISION  OF  LAW, THE AUTHORITY SHALL, WITHIN SIXTY DAYS OF THE EFFEC-
TIVE DATE OF THIS SECTION AND AT ITS OWN EXPENSE, CONTRACT WITH A CERTI-
FIED PUBLIC ACCOUNTING FIRM FOR THE PROVISION OF AN INDEPENDENT, COMPRE-
HENSIVE, FORENSIC AUDIT OF THE AUTHORITY. SUCH AUDIT SHALL BE  PERFORMED
IN  ACCORDANCE  WITH  GENERALLY  ACCEPTED GOVERNMENT AUDITING STANDARDS.
SUCH AUDIT SHALL BE INDEPENDENT OF AND IN ADDITION  TO  THE  INDEPENDENT
AUDIT  OF  THE  AUTHORITY  CONDUCTED  PURSUANT  TO  SECTION TWENTY-EIGHT
HUNDRED TWO OF THIS CHAPTER.
  2. THE CERTIFIED INDEPENDENT  PUBLIC  ACCOUNTING  FIRM  PROVIDING  THE
AUTHORITY'S  INDEPENDENT, COMPREHENSIVE, FORENSIC AUDIT SHALL BE PROHIB-
ITED FROM PROVIDING AUDIT SERVICES IF THE LEAD (OR  COORDINATING)  AUDIT
PARTNER  (HAVING  PRIMARY  RESPONSIBILITY  FOR  THE AUDIT), OR THE AUDIT
PARTNER  RESPONSIBLE  FOR  REVIEWING  THE  AUDIT,  HAS  PERFORMED  AUDIT
SERVICES  FOR  THE AUTHORITY WITHIN ANY OF THE TEN PREVIOUS FISCAL YEARS
OF THE AUTHORITY.
  3. THE CERTIFIED INDEPENDENT  ACCOUNTING  FIRM  PERFORMING  THE  AUDIT
PURSUANT TO THIS SECTION SHALL BE PROHIBITED FROM PERFORMING ANY NON-AU-
DIT SERVICES FOR THE AUTHORITY CONTEMPORANEOUSLY WITH THE AUDIT.
  4.  IT  SHALL  BE  PROHIBITED  FOR  THE  CERTIFIED  INDEPENDENT PUBLIC
ACCOUNTING FIRM TO PERFORM FOR THE AUTHORITY ANY AUDIT  SERVICE  IF  THE

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04030-01-3

S. 2482                             2

CHIEF  EXECUTIVE  OFFICER,  COMPTROLLER,  CHIEF FINANCIAL OFFICER, CHIEF
ACCOUNTING OFFICER OR ANY OTHER PERSON SERVING IN AN EQUIVALENT POSITION
IN THE AUTHORITY WAS AN EMPLOYEE, CONSULTANT OR  INDEPENDENT  CONTRACTOR
OF THAT CERTIFIED INDEPENDENT PUBLIC ACCOUNTING FIRM AND PARTICIPATED IN
ANY CAPACITY IN THE AUDIT OF THE AUTHORITY AT ANY TIME IN THE PAST.
  5.  THE  CERTIFIED  INDEPENDENT  PUBLIC  ACCOUNTING FIRM CONTRACTED TO
PERFORM THE INDEPENDENT COMPREHENSIVE, FORENSIC AUDIT OF  THE  AUTHORITY
SHALL,  ON  OR  BEFORE  JANUARY  FIRST, TWO THOUSAND SIXTEEN, REPORT ITS
FINDINGS, CONCLUSIONS AND RECOMMENDATIONS TO  THE  GOVERNOR,  THE  STATE
COMPTROLLER,  THE  TEMPORARY PRESIDENT OF THE SENATE, THE SPEAKER OF THE
ASSEMBLY, THE CHAIR AND RANKING MINORITY MEMBER OF  THE  SENATE  FINANCE
COMMITTEE,  THE  CHAIR  AND RANKING MINORITY MEMBER OF THE ASSEMBLY WAYS
AND MEANS COMMITTEE, THE CHAIRS AND  RANKING  MINORITY  MEMBERS  OF  THE
SENATE  AND  THE  ASSEMBLY  CORPORATIONS,  AUTHORITIES  AND  COMMISSIONS
COMMITTEES, AND THE CHAIRS AND RANKING MINORITY MEMBERS  OF  THE  SENATE
AND THE ASSEMBLY TRANSPORTATION COMMITTEES.
  S  2.  This act shall take effect immediately, and shall expire and be
deemed repealed January 2, 2016.

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