§ 8. Functions of the board. 1. In carrying out the purposes of this
act, the board shall perform the following functions:

a. As set forth in section nine of this act, the board shall (i)
consult with the city and the covered organizations in the preparation
of the financial plan, and certify to the city the revenue estimates
approved therein, (ii) prescribe the form of the financial plan and the
supporting information required in connection therewith, and (iii)
exercise the rights of approval, disapproval and modification with
respect to the financial plan, including but not limited to the revenue
estimates contained therein.

b. As set forth in section ten of this act, the board shall establish
and adopt procedures with respect to the deposit of revenues of the city
and the covered organizations in the fund and the disbursement of moneys
from the fund.

c. The board shall, from time to time and to the extent it deems
necessary or desirable in order to accomplish the purposes of this act,
(i) review the operations, management, efficiency and productivity of
such city operations and of such covered organizations or portions
thereof as the board may determine, and make reports thereon; (ii) audit
compliance with the financial plan in such areas as the board may
determine; (iii) recommend to the city and the covered organizations
such measures relating to their operations, management, efficiency and
productivity as it deems appropriate to reduce costs and improve
services so as to advance the purposes of this act; and (iv) obtain
information on the financial condition and needs of the city and the
covered organizations. Nothing herein shall diminish the powers of the
comptroller otherwise provided by law and the board may request the
assistance of the comptroller in the performance of the above functions.

d. The board shall (i) receive from the city and the covered
organizations and from the comptroller, and review, such financial
statements and projections, budgetary data and information, and
management reports and materials as the board deems necessary or
desirable to accomplish the purposes of this act, and (ii) inspect, copy
and audit such books and records of the city and the covered
organizations as the board deems necessary or desirable to accomplish
the purposes of this act.

e. All contracts entered into by the city or any covered organization
must be consistent with the provisions of this act and must comply with
the requirements of the financial plan as approved by the board. With
respect to all contracts or other obligations to be entered into by the
city or any covered organization after May first, nineteen hundred
eighty-four, requiring the payment of funds or the incurring of costs by
the city or any covered organization:

(i) Within twenty days from May 2, 1984, the city manager shall
present to the board proposed regulations respecting the categories and
types of contracts and other obligations required to be reviewed by the
board pursuant to this subdivision. Within thirty days from May 2, 1984,
the board shall approve or modify and approve such proposed regulations
or promulgate its own in the event that such proposed regulations are
not submitted to it within the twenty days as provided for herein. Such
regulation may thereafter be modified by the board from time to time on
not less than thirty days notice to the city manager on or before
December 31, 1991 and thereafter to the mayor and the city manager, or
mayor, respectively, may from time to time propose modifications to the
board. Unless expressly disapproved or modified by the board within
thirty days from the date of submission by the city manager or mayor,
any such proposed regulations or modifications shall be deemed approved
by the board;

(ii) Prior to entering into any contract or other obligation subject
to review of the board under its regulations, the city or any covered
organization shall submit a copy of such contract or other obligation to
the board accompanied by an analysis of the projected costs of such
contract or other obligation and a certification that performance
thereof will be in accordance with the financial plan, all in such form
and with such additional information as the board may prescribe. The
board shall promptly review the terms of such contract or other
obligation and the supporting information in order to determine
compliance with the financial plan;

(iii) The board shall, by order, disapprove any contract or other
obligation reviewed by it only after enactment of a resolution
determining that, in its judgment, the performance of such contract or
other obligation would be inconsistent with the financial plan, and upon
such order the city or covered organization shall not enter into such
contract or other obligation;

(iv) If the board approves the terms of a reviewed contract or other
obligation, the city or covered organization may enter into such
contract or other obligation upon the terms submitted to the board.
Failure of the board to notify the city or covered organization within
thirty days (or such additional time, not exceeding thirty days, as the
board shall have notified the city or covered organization that it
requires to complete its review and analysis) after submission to it of
a contract or other obligation that such contract or other obligation
has been disapproved shall be deemed to constitute board approval
thereof.

f. The board shall review the terms of each proposed long-term and
short-term borrowing by the city and any covered organization to be
effected during the emergency period after May first, nineteen hundred
eighty-four, and no such borrowing shall be made unless it complies with
the provisions of the special fiscal act and is approved by the board.
The board shall consult and coordinate with the comptroller with respect
to the borrowings of the city and any covered organization and shall
receive reports from the comptroller on his review of borrowings by the
city. No covered organization shall be prohibited from issuing bonds or
notes to pay outstanding bonds or notes.

g. The board shall receive quarterly reports from the comptroller
setting forth the debt service requirements on all bonds and notes of
the city and covered organizations for the following quarter.

h. The board shall issue, to the appropriate official of the city and
the covered organization, such orders as it deems necessary to
accomplish the purposes of this act, including but not limited to,
timely and satisfactory implementation of an approved financial plan.
Any order so issued shall be binding upon the official to whom it was
issued and failure to comply with such order shall subject the official
to the penalties described in section twelve of this act.

i. The board shall coordinate with the comptroller with respect to the
performance of its review and monitoring of the revenues and
expenditures of the city and covered organizations.

2. In carrying out its functions under this act, including making its
determination whether to approve or disapprove a financial plan or
financial plan modification of the city, the board shall ensure
compliance by the city with the requirements imposed by the special
fiscal act, and all the requirements of such act shall apply to a
financial plan of the city. Nothing contained in this act shall be
construed to amend, repeal, be inconsistent with, less stringent or less
restrictive than the special fiscal act. If any inconsistencies or
conflicts between this act and the special fiscal act shall result from
the operations of the board or otherwise, the provisions of the special
fiscal act shall control as provided in subdivision (F) of section
fourteen of the special fiscal act.

3. a. Notwithstanding the provisions or limitations of any law,
general, special or local, including the charter of the city of Yonkers,
an impasse panel, arbitrator, collective bargaining board, fact finding
or similar type of panel, body or individual which is authorized to
recommend or award an increase in wages or fringe benefits to any
employee of the city or covered organization shall, in addition to
considering any standard or factor required to be considered by
applicable law, also take into consideration and accord substantial
weight to the financial ability of the city or covered organization to
pay the cost of such increase in wages or fringe benefits.

b. Any determination pursuant to article eight of the labor law or any
agreement or stipulation entered into in lieu thereof which provides for
an increase in wages or fringe benefits of any employee of the city or
covered organization shall, in addition to considering any standard or
factor required to be considered by applicable law, also take into
consideration and accord substantial weight to the financial ability of
the city or covered organization to pay the cost of such increase in
wages or fringe benefits.

c. Any party to a proceeding before a panel, body or individual as
described in paragraph a or b of this subdivision may commence a special
proceeding in the appellate division, second department, supreme court,
state of New York, to review the determination as to the city or covered
organization's financial ability to pay. Such proceeding shall be
commenced not later than thirty days after the final determination has
been made by the panel, body or individual. Such proceeding shall have
preference over all other cases in such appellate division, other than
cases relating to the election law.

d. The court shall make a de novo review of the record solely for the
purpose of determining whether an award of an increase in wages or
fringe benefits was within the city's or covered organization's
financial ability to pay. The court's findings as to such issue shall be
based upon a preponderance of all the evidence set forth in the record.
Unless the parties stipulate otherwise, arguments or submission shall be
had within fifteen days after commencement of the special proceeding and
the court shall render its decision within fifteen days thereafter. All
questions, other than the question relating to the determination, shall
be reviewed by the appellate division in the same proceeding in the
manner provided by article seventy-five or seventy-eight of the civil
practice law and rules as may be appropriate, notwithstanding that the
issue would otherwise have been cognizable in the first instance before
a special or trial term of the supreme court. If an appeal shall
otherwise lie from such determination of the appellate division to the
court of appeals, notice of such appeal shall be filed within thirty
days after the entry of the final order or judgment of the appellate
division if such appeal is of right or within ten days after entry of an
order granting leave to appeal, and such appeal shall have preference
over all other appeals other than appeals relating to the election law.

e. At any stage of any proceeding under paragraph a, b or c hereof or
any appeal from an order or judgment therefrom the board may intervene
as a party on the issue of the financial ability of the city or covered
organization to pay the cost of an increase in wages or fringe benefits.

f. For the purposes of this subdivision, financial ability to pay
shall mean the financial ability of the city or covered organization to
pay the cost of any increase in wages or fringe benefits without
requiring an increase in the level of city taxes as approved in the
financial plan of the city in effect at the time of the commencement of
a proceeding under paragraph a or b hereof.