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Senate Bill S5736

2009-2010 Legislative Session

Provides that audits of service award programs in certain political subdivisions may be obtained from the chief fiscal officer of such political subdivision

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Sponsored By

Archive: Last Bill Status - In Senate Committee Local Government Committee

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2009-S5736 (ACTIVE) - Details

Current Committee:
Senate Local Government
Law Section:
General Municipal Law
Laws Affected:
Amd ยง219-a, Gen Muni L
Versions Introduced in 2011-2012 Legislative Session:
S6435

2009-S5736 (ACTIVE) - Summary

Provides that audits of service award programs in certain political subdivisions may be obtained from the chief fiscal officer of such political subdivision.

2009-S5736 (ACTIVE) - Sponsor Memo

2009-S5736 (ACTIVE) - Bill Text download pdf 

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

                                  5736

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                              June 2, 2009
                               ___________

Introduced  by  Sen.  DeFRANCISCO -- read twice and ordered printed, and
  when printed to be committed to the Committee on Local Government

AN ACT to amend the general municipal law,  in  relation  to  audits  of
  certain service award programs

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

  Section 1. Subdivision 3 of section 219-a  of  the  general  municipal
law,  as  amended by chapter 458 of the laws of 2008, is amended to read
as follows:
  3. The sponsor or designated program  administrator  shall  obtain  an
annual  audit of its records by an independent certified public account-
ant or an independent public accountant, PROVIDED  THAT  FOR  A  SERVICE
AWARD  PROGRAM FOR A POLITICAL SUBDIVISION IN WHICH FIFTY OR FEWER FIRE-
FIGHTERS PARTICIPATE IN SUCH PROGRAM, SUCH AUDIT MAY  BE  OBTAINED  FROM
THE CHIEF FISCAL OFFICER OF SUCH POLITICAL SUBDIVISION. Such audit shall
examine the program's financial conditions, actuarial assumptions, fidu-
ciary  investment  and control, and asset allocations, including whether
current assets are adequate to fund future liabilities. A  copy  of  the
audit  shall  be presented to the program sponsor and to the state comp-
troller by such accountant. Copies of  the  audit  shall  also  be  made
available for public inspection and copying. The audit must be completed
within two hundred seventy days of the program sponsor's fiscal year.
  S 2. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14075-01-9

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