Assembly Bill A10223

2011-2012 Legislative Session

Requires municipalities to submit a multi-year financial plan to the comptroller

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2011-A10223 (ACTIVE) - Details

Current Committee:
Assembly Local Governments
Law Section:
General Municipal Law
Laws Affected:
Add ยง40, Gen Muni L
Versions Introduced in Other Legislative Sessions:
2013-2014: A1446
2015-2016: A1780
2017-2018: A1478
2019-2020: A3428
2021-2022: A6721
2023-2024: A2951

2011-A10223 (ACTIVE) - Summary

Requires municipalities to submit a multi-year financial plan to the comptroller.

2011-A10223 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  10223

                          I N  A S S E M B L Y

                              May 15, 2012
                               ___________

Introduced  by  M.  of  A.  ZEBROWSKI  --  read once and referred to the
  Committee on Local Governments

AN ACT to amend the general municipal  law,  in  relation  to  requiring
  municipalities  to  submit  a  multi-year  financial plan to the comp-
  troller

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The  general  municipal  law  is  amended by adding a new
section 40 to read as follows:
  S 40. MULTI-YEAR FINANCIAL PLAN. EXCEPT IF ALREADY  REQUIRED  BY  LAW,
EVERY  CITY,  COUNTY  AND  EVERY TOWN AND VILLAGE WITH ANNUAL BUDGETS IN
EXCESS OF TEN MILLION  DOLLARS  SHALL  ANNUALLY  PREPARE  AND  SUBMIT  A
MULTI-YEAR  FINANCIAL PLAN TO THE COMPTROLLER. SUCH MULTI-YEAR FINANCIAL
PLANS SHALL BE FILED WITH THE COMPTROLLER BY THE CHIEF FINANCIAL OFFICER
OF THE MUNICIPALITY NO LATER THAN ONE  HUNDRED  TWENTY  DAYS  AFTER  THE
ADOPTION  OF  THE  MUNICIPALITY'S  BUDGET. THE MULTI-YEAR FINANCIAL PLAN
SHALL COVER THE PROPOSED BUDGET, THE NEXT SUCCEEDING FISCAL YEAR AND THE
TWO FISCAL YEARS THEREAFTER. THE  MULTI-YEAR  FINANCIAL  PLAN  SHALL  AT
MINIMUM  INCLUDE  PROJECTED EMPLOYMENT LEVELS, PROJECTED ANNUAL EXPENDI-
TURES FOR PERSONAL SERVICE, FRINGE BENEFITS, NON-PERSONAL  SERVICES  AND
DEBT  SERVICE; APPROPRIATE RESERVE FUND AMOUNTS; ESTIMATED ANNUAL REVEN-
UES INCLUDING PROJECTED PROPERTY TAX RATES, THE  VALUE  OF  THE  TAXABLE
REAL  PROPERTY  AND  RESULTING  TAX LEVY, ANNUAL GROWTH IN SALES TAX AND
NON-PROPERTY TAX REVENUES, AND THE  PROPOSED  USE  OF  ONE-TIME  REVENUE
SOURCES.  THE  FINANCIAL  PLAN  SHALL ALSO IDENTIFY ACTIONS NECESSARY TO
ACHIEVE AND MAINTAIN LONG-TERM  FISCAL  STABILITY,  INCLUDING,  BUT  NOT
LIMITED  TO,  IMPROVED  MANAGEMENT PRACTICES, INITIATIVES TO MINIMIZE OR
REDUCE OPERATING EXPENSES, AND POTENTIAL SHARED SERVICES AGREEMENTS WITH
OTHER MUNICIPALITIES. THE COMPTROLLER MAY, UPON WRITTEN REQUEST  FROM  A
MUNICIPALITY, GRANT AN EXTENSION OF UP TO THIRTY DAYS.
  S 2. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15765-01-2

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