New York Laws
Title 1 - Nassau County Interim Finance Authority
3668 - Monitoring and Review.

§ 3668. Monitoring and review. Except as otherwise provided in section
thirty-six hundred sixty-nine of this title, the authority shall:

1. conduct meetings at least annually;

2. conduct audits of the Nassau county industrial development agency
established pursuant to section nine hundred twenty-two of the general
municipal law, the Nassau county off-track betting corporation
established pursuant to article five of the racing, pari-mutuel wagering
and breeding law, and the Nassau university medical center established
pursuant to section three thousand four hundred two of this chapter;
provided, however, that such audits shall to be completed no later than
December thirty-first, two thousand twenty-two, and shall continue on a
biennial basis for subsequent years thereafter. The authority shall make
its audit findings publicly available on its website and provide copies
of its respective reports to the governor, temporary president of the
senate, speaker of the assembly, and authorities budget office;

3. investigate, within the county and covered organizations, potential
violations of the provisions of this chapter, fiscal mismanagement or
systemic negligence; provided further that the authority shall provide
an annual report to the governor, temporary president of the senate,
speaker of the assembly, and authorities budget office detailing such
investigations;

4. obtain from the county all information required pursuant to this
section, and such other financial statements and projections, budgetary
data and information, and management reports and materials as the
authority deems necessary or desirable to accomplish the purposes of
this title;

5. recommend to the county and the covered organizations such measures
relating to their operation, management, efficiency and productivity as
the authority deems appropriate to reduce costs and improve services so
as to advance the purposes of this title;

6. consult with the county in the preparation of the budget of the
county;

7. with respect to any county borrowing proposed to be issued after
July first, two thousand, review the terms of and comment, within thirty
days after notification by the county of a proposed borrowing, on the
prudence of each proposed issuance of bonds or notes to be issued by the
county and no such borrowing shall be made unless first reviewed and
commented upon by the authority. The authority shall provide such
comments within thirty days after notification by the county of a
proposed borrowing to the county executive, the comptroller, the
legislature, the director of the budget and the state comptroller;

8. determine whether to make transitional state aid available, and on
what schedule, based upon the county's compliance with the requirements
of sections thirty-six hundred sixty-six and thirty-six hundred
sixty-seven of this title, as applicable, and the requirements, if any,
of the appropriations bills authorizing such transitional state aid; and

9. perform such audits and reviews of the county and any agency
thereof and any covered organizations as it deems necessary.