New York Laws
Title 3 - Erie County Fiscal Stability Authority
3957 - County Financial Plans.

(a) The county executive shall submit to the authority a certificate
stating that the budget submitted to the authority is consistent with
the financial plan submitted therewith and that operation within the
budget is feasible.
(b) Not more than twenty days after submission of a financial plan or
more than fifteen days after submission of a financial plan
modification, the authority shall determine whether the financial plan
or financial plan modification is complete and complies with the
provisions of this section and the other requirements of this title, and
shall submit its recommendations with respect to the financial plan or
financial plan modification in accordance with the provisions of this
subdivision.
(c) Upon the approval by the county of a budget in accordance with the
provisions of the county charter, the county executive shall submit such
approved budget and financial plan to the authority accompanied by
expenditure, revenue and cash flow projections on a quarterly basis and
certify to the authority that such budget is consistent with the
financial plan to be submitted to the authority.
(d) If the authority determines that the financial plan or financial
plan modification provided pursuant to paragraph (c) or (f) of this
subdivision is complete and complies with the standards set forth in
this subdivision, the authority shall make a certification to the county
setting forth revenue estimates agreed to by the authority in accordance
with such determination.
(e) The authority shall, in the event it disagrees with elements of
the financial plan provided pursuant to paragraph (c) or (f) of this
subdivision provide notice thereof to the county, with copies to the
director of the budget, the state comptroller, the chair of the state
assembly ways and means committee and the chair of the state senate
finance committee, if, in the judgment of the authority, such plan: (i)
is incomplete; (ii) fails to contain projections of revenues and
expenditures that are based on reasonable and appropriate assumptions
and methods of estimations; (iii) fails to provide that operations of
the county and the covered organizations will be conducted within the
cash resources available; or (iv) fails to comply with the provisions of
this title or other requirements of law.
(f) After the initial adoption of an approved financial plan, the
revenue estimates certified by the authority and the financial plan
shall be regularly reexamined by the authority in consultation with the
county and the covered organizations and the county executive shall
provide a modified financial plan in such detail and within such time
periods as the authority may require. In the event of reductions in such
revenue estimates, or in the event the county or a covered organization
shall expend funds at a rate that would exceed the aggregate expenditure
limitation for the county or covered organization prior to the
expiration of the fiscal year, the county executive shall submit a
financial plan modification to effect such adjustments in revenue
estimates and reductions in total expenditures as may be necessary to
conform to such revised revenue estimates or aggregate expenditure
limitations.
(g) If, within a time period specified by the authority, the county
fails to make such modifications after reductions in revenue estimates,
or to provide a modified plan in detail and within such time period
required by the authority, the authority shall adopt a resolution so
finding.
(h) The county shall amend its budget or shall submit a financial plan
modification for the approval of the authority such that the county's
budget and the approved financial plan shall be consistent. In no event
shall the county operate under a budget that is inconsistent with an
approved financial plan.
3. The financial plan shall be in such form and shall contain such
information for each year during which the financial plan is in effect
as the authority may specify, and shall include the county and all the
covered organizations, and shall, in such detail as the authority from
time to time may prescribe, include (a) statements of all estimated
revenues and of all expenditures and cash flow projections of the county
and each covered organization, and (b) an accounting of the expenditure
of efficiency incentive grants available to the county for each year of
the plan.
4. The financial plan shall include any information which the
authority may request to satisfy itself that: (a) projected employment
levels, collective bargaining agreements and other actions relating to
employee costs, capital construction and such other matters as the
authority may specify are consistent with the provisions made for such
obligations in the financial plan; (b) the county and the covered
organizations are taking whatever action is necessary with respect to
programs mandated by state and federal law to ensure that expenditures
for such programs are limited to and covered by the expenditures stated
in the financial plan; (c) adequate reserves are provided to maintain
essential programs in the event revenues have been overestimated or
expenditures underestimated for any period; and (d) the county has
adequate cash resources to meet its obligations. In addition, except to
the extent such reporting requirements may be modified pursuant to
agreement between the authority and the county, for each fiscal year
occurring during a control period, or while bonds, notes or other
obligations issued pursuant to this title are outstanding, the county
executive shall prepare a quarterly report of summarized budget data
depicting overall trends, by major category within funds, of actual
revenues and budget expenditures for the entire budget rather than
individual line items, as well as updated quarterly cash flow
projections of receipts and disbursements. Such reports shall compare
revenue estimates and appropriations as set forth in such budget and in
the quarterly revenue and expenditure projections submitted therewith,
with the actual revenues and expenditures made to date. Such reports
shall also compare actual receipts and disbursements with the estimates
contained in the cash flow projections, together with variances and
their explanation. All quarterly reports shall be accompanied by
recommendations from the county executive to the legislature setting
forth any remedial action necessary to resolve any unfavorable budget
variance including the overestimation of revenues and the
underestimation of appropriations. These reports shall be completed
within thirty days after the end of each quarter and shall be submitted
to the legislature, the authority, the director of the budget, the chair
of the state senate finance committee, the chair of the state assembly
ways and means committee and the state comptroller. For each fiscal year
occurring during a control or advisory period or while bonds, notes or
other obligations issued pursuant to this title are outstanding, the
county executive shall submit a proposed budget or revision thereto to
the authority concurrent with submission to the legislature, and shall
submit the adopted budget to the authority immediately upon its
adoption.
5. For each financial plan and financial plan modification to be
prepared and submitted by the county executive to the authority pursuant

to the provisions of this section, the covered organizations shall
submit to the county such information with respect to their projected
expenditures, revenues and cash flows for each of the years covered by
such financial plan or modification as the county executive shall
determine.