New York Laws
Title 6 - The New York City School Construction Authority Act
1736 - Funding of the Authority.

§ 1736. Funding of the authority. 1. Each year the authority shall
prepare and the board shall adopt an itemized estimate of the sum of
money it deems necessary from the city board to cover the authority's
operating expenses for the ensuing fiscal year. Such estimate shall take
into account any prior year's surplus and shall be delivered to the city
board for review at least ten business days prior to the date for
submission of the city board's annual estimate pursuant to section
twenty-five hundred seventy-six of the education law and shall be
included as part of such city board estimate. Upon appropriation of the
city's expense budget for such ensuing fiscal year, the amount of the
authority's estimate shall be paid to the authority by the city in
twelve equal payments, each payable on the first day of each month of
the fiscal year. The authority shall not be required to present any
vouchers for such payments, but shall issue quarterly reports not later
than thirty days after the end of each quarter comparing actual
expenditures to estimated expenditures and analyzing any significant
variances. The authority shall develop procedures to ensure that it
operates at all times within the amounts payable to it pursuant to this
section, after taking into account funds available to the authority for
such purpose from sources other than the city. Expenditures of the
authority from funds paid to it by the city shall be subject to audit by
the comptroller, who may recommend procedures designed to improve the
authority's accounting and expenditure control expenditures. In the
event the authority's cash flow projections require that funds be
advanced more rapidly during a fiscal year than would occur pursuant to
the payment dates set forth in this section, the authority shall advise
the city board, the director of management and budget and the
comptroller of such requirement. Such officials shall, in consultation
with the authority, develop a schedule of advance payments to the
authority designed to cover projected cash shortfalls during a fiscal
year and to provide the authority with cash balances at all times
sufficient to permit prompt payment of the authority's creditors.

2. The authority shall present vouchers for payment of costs incurred
for projects the detailed scope of which approval has been obtained and
for activities for which no such scope approval is required as provided
in section twenty-five hundred ninety-p of the education law to the
comptroller, which vouchers shall contain the following information:
the amounts to be paid; the payees; the project or purpose for which the
costs were incurred; a statement that the amounts to be paid are within
city capital budget appropriations available therefor; and, with respect
to projects for which scope approval has been obtained, a statement that
the amounts to be paid are in accordance with such approved project
scope. The authority shall not be required to furnish any additional
information prior to payment of a voucher pursuant to this subdivision,
and the comptroller is hereby authorized and directed to take such
actions as may be necessary to make such payment.

3. The authority shall not be deemed a "covered organization" as
defined in the New York state financial emergency act for the city of
New York.