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This entry was published on 2014-09-22
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Annual audit of authority
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 5, TITLE 11
§ 1276-a. Annual audit of authority. The comptroller shall conduct an
annual audit of the books and records of the authority and its
subsidiary corporations. Such audit shall include a complete and
thorough examination of such authority's receipts, disbursements,
revenues and expenses during the prior fiscal year in accordance with
the categories or classifications established by such authority for its
own operating and capital outlay purposes; assets and liabilities at the
end of its last fiscal year including the status of reserve,
depreciation, special or other funds and including the receipts and
payments of these funds; schedule of bonds and notes outstanding at the
end of its fiscal year and their redemption dates, together with a
statement of the amounts redeemed and incurred during such fiscal year;
operations, debt service and capital construction during the prior
fiscal year.

The comptroller, upon completion of such audit, shall within sixty
days thereafter, report to the governor and the legislature his
findings, conclusions and recommendations thereof.