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

---

A9504-2011 Actions

• Mar 7, 2012: referred to local governments

A9504-2011 Text

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

                                    9504

                            I N  ASSEMBLY

                                March 7, 2012
                                 ___________

  Introduced  by  M.  of  A.  D. MILLER, MONTESANO, MURRAY, KATZ, BURLING,
    CORWIN -- Multi-Sponsored by -- M. of A. CERETTO, FINCH --  read  once
    and referred to the Committee on Local Governments

  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.
                                                             LBD14533-01-2