Provides that audits of service award programs in certain political subdivisions may be obtained from the chief fiscal officer of such political subdivision.
Ayes (8): Martins, Ball, Little, McDonald, Ritchie, Stewart-Cousins, Oppenheimer, Klein
Ayes (59): Adams, Addabbo, Alesi, Avella, Ball, Bonacic, Breslin, Carlucci, DeFrancisco, Diaz, Dilan, Duane, Farley, Flanagan, Fuschillo, Gallivan, Gianaris, Golden, Griffo, Grisanti, Hannon, Hassell-Thomps, Johnson, Kennedy, Klein, Lanza, Larkin, LaValle, Libous, Little, Marcellino, Martins, Maziarz, McDonald, Montgomery, Nozzolio, O'Mara, Oppenheimer, Parker, Peralta, Perkins, Ranzenhofer, Ritchie, Rivera, Robach, Saland, Sampson, Savino, Serrano, Seward, Skelos, Smith, Squadron, Stavisky, Stewart-Cousin, Storobin, Valesky, Young, Zeldin
Excused (3): Espaillat, Huntley, Krueger
TITLE OF BILL: An act to amend the general municipal law, in relation to audits of certain service award programs
PURPOSE: The purpose of this bill is to allow service award programs for a political subdivision in which fifty or fewer firefighters participate to have the audit done by the chief fiscal officer of such political subdivision.
SUMMARY OF PROVISIONS: Section one amends the General Municipal Law to provide that for a service award program for a political subdivision in which fifty or fewer firefighters participate in such programs, such audit may be obtained from the chief fiscal officer of such political subdivision.
Section two sets forth the enacting clause.
JUSTIFICATION: The requirement to obtain an annual audit by an independent certified public accountant for a small municipality that has less than fifty participants is very costly and not affordable to our taxpayers. This amendment would not do away with an audit but the municipality would be able to have the audit done by the Town Board which would assist in reducing the tax burden.
LEGISLATIVE HISTORY: S.5736 (2010)
FISCAL IMPLICATIONS: None.
EFFECTIVE DATE: This act will take effect immediately.
STATE OF NEW YORK ________________________________________________________________________ 6435 IN SENATE February 9, 2012 ___________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. LBD14533-01-2