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S00298 Summary:

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S00298 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                           298
 
                               2015-2016 Regular Sessions
 
                    IN SENATE
 
                                       (Prefiled)
 
                                     January 7, 2015
                                       ___________
 
        Introduced  by  Sen. MARTINS -- read twice and ordered printed, and when
          printed to be committed to the Committee on Local Government
 
        AN ACT to amend the general municipal  law,  in  relation  to  alternate
          viewers of audits provided to the federal clearinghouse
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. The general municipal  law  is  amended  by  adding  a  new
     2  section 40 to read as follows:
     3    §  40. Audits to federal clearinghouse. 1. Local governmental entities
     4  expending federal funds that are required to file a single audit to  the
     5  federal  clearinghouse  shall designate all relevant state agencies that
     6  acted as a pass-through entity for federal funds, as designated  viewers
     7  in compliance with the Single Audit Act of 1984 and the relevant federal
     8  circular guidelines.
     9    2.  For  purposes  of  this  section: (a) "single audit" shall mean an
    10  audit required for recipients of federal financial assistance  equal  to
    11  or  in  excess  of  five hundred thousand dollars in any fiscal year and
    12  includes the municipality's financial statements and the amount  of  the
    13  federal financial assistance.
    14    (b) "Local governmental entity" shall mean a municipal corporation, as
    15  defined in section two of this chapter, or special district.
    16    §  2. This act shall take effect upon the enactment of updates made to
    17  Circular No. A-133 by the Federal Office of Management &  Budget  adding
    18  the  ability  to  designate  a viewer to a single audit filing; provided
    19  that the federal clearinghouse shall notify the legislative bill  draft-
    20  ing  commission upon the occurrence of the updates to Circular No. A-133
    21  in order that the commission may maintain an accurate and  timely  data-
    22  base of the official text of the laws of the state of New York in furth-
    23  erance  of  effectuating the provisions of section 44 of the legislative
    24  law and section 70-b of the public officers law.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02196-01-5