New York Laws
Title 9 - New York City Transit Authority
1208 - Revenue and Accounts.

§ 1208. Revenue and accounts. 1. The authority shall establish and
maintain a system of accounts to show at all times the cost of the
several classes of property used in operation and the sources of funds
used in the acquisition of such property; the several classes of
operating revenue and other income; maintenance expenses, interest, and
all other charges. To the extent consistent with this title, such
accounts shall be kept in accordance with the appropriate uniform system
of accounts prescribed by the public service commission and shall be
published monthly in the city record.

2. The moneys of the authority shall be deposited daily in banks to be
designated by the authority. Deposits may be secured by obligations of
or guaranteed by the United States, the state, or any municipal
corporation of the state or in such other manner as the authority may
provide, and all banks and trust companies are authorized to give such
security for such deposits. The comptroller shall have the power from
time to time, to examine the accounts, books and any other records or
papers relating to the financial condition of the authority, which
examination shall not preclude examination of such matters by any other
authorized officer or body.

3. Payments or withdrawals of moneys of the authority shall be made by
checks drawn and signed by a member or an officer of the authority, duly
authorized by resolution of the board.

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