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The New York State Authorities Budget Office has released a report that identifies more than 200 state and local authorities that have not filed a budget, annual or audit report as of Jan. 27 for the most recent reporting period as required by Public Authorities Law.
As a result, the authorities are considered out of compliance with state law.
An ABO press release issued Monday said releasing the list constitutes an official warning to the directors and management of these authorities, and failure to correct the delinquency and submit the necessary reports will lead to additional enforcement action by the ABO.
Enforcement action, according to the ABO press release, could include a written public censure or a recommendation that the directors of the authority and its management be removed.
Among the local authorities on the list is the Little Falls Urban Renewal Agency, which according to the ABO failed to submit its 2011 budget and annual reports. The budget report, according to the list, was due for submission on Nov. 1, while the list indicated the annual report was due March 31.
Little Falls URA Programs Coordinator Virginia Curry said in an e-mail Wednesday the agency recently made submissions to the ABO and is in the process of adopting a budget.
“The reports must be filed through the electronic Public Authorities Reporting Information System, which can be a rather slow process,” said Curry during a telephone interview Wednesday afternoon. “This is a process that we must go through every year in order to be certified, and we are going through that process now. We are also working on adopting a budget, which we will do in April.”
“The URA has made the necessary submissions and will continue to do so to remain in compliance,” said Mayor Robert Peters during a telephone interview Wednesday afternoon. “The city has worked hard to resolve previous issues in the URA, and does not want to do anything to jeopardize the work that has been completed. This is something we will continue to monitor and make sure is corrected.”
The St. Johnsville Urban Renewal Agency was also listed for not submitting its budget report due to the ABO on April 1, 2011, and its annual and audit reports due to the ABO on Aug. 31, 2011.
The St. Johnsville URA was censured by the ABO last year for lax financial reporting. The agency tried to file reports electronically, but were rejected because it does not have a website. URA officials were told the agency’s reports would continue to be rejected by the ABO until they list a website.
Other local agencies on the ABO’s delinquent list released Monday include the Fulton County Economic Development Corporation, Griffiss Local Development Corporation, Johnstown Economic Development Corporation, Upper Mohawk Valley Memorial Auditorium Authority, Upper Mohawk Valley Regional Water Finance Authority and the City of Utica Industrial Development Agency.
According to the ABO release, public authorities are required to file an annual report and audit report within 90 days of the end of the fiscal year. State authorities, according to the release, are required to submit a budget report 90 days prior to the start of the fiscal year and local authorities, according to the release, must submit a budget report 60 days prior to the start of the fiscal year.
The New York State Authorities Budget Office has released a report that identifies more than 200 state and local authorities that have not filed a budget, annual or audit report as of Jan. 27 for the most recent reporting period as required by Public Authorities Law.
As a result, the authorities are considered out of compliance with state law.
An ABO press release issued Monday said releasing the list constitutes an official warning to the directors and management of these authorities, and failure to correct the delinquency and submit the necessary reports will lead to additional enforcement action by the ABO.
Enforcement action, according to the ABO press release, could include a written public censure or a recommendation that the directors of the authority and its management be removed.
Among the local authorities on the list is the Little Falls Urban Renewal Agency, which according to the ABO failed to submit its 2011 budget and annual reports. The budget report, according to the list, was due for submission on Nov. 1, while the list indicated the annual report was due March 31.
Little Falls URA Programs Coordinator Virginia Curry said in an e-mail Wednesday the agency recently made submissions to the ABO and is in the process of adopting a budget.
“The reports must be filed through the electronic Public Authorities Reporting Information System, which can be a rather slow process,” said Curry during a telephone interview Wednesday afternoon. “This is a process that we must go through every year in order to be certified, and we are going through that process now. We are also working on adopting a budget, which we will do in April.”
“The URA has made the necessary submissions and will continue to do so to remain in compliance,” said Mayor Robert Peters during a telephone interview Wednesday afternoon. “The city has worked hard to resolve previous issues in the URA, and does not want to do anything to jeopardize the work that has been completed. This is something we will continue to monitor and make sure is corrected.”
The St. Johnsville Urban Renewal Agency was also listed for not submitting its budget report due to the ABO on April 1, 2011, and its annual and audit reports due to the ABO on Aug. 31, 2011.
The St. Johnsville URA was censured by the ABO last year for lax financial reporting. The agency tried to file reports electronically, but were rejected because it does not have a website. URA officials were told the agency’s reports would continue to be rejected by the ABO until they list a website.
Other local agencies on the ABO’s delinquent list released Monday include the Fulton County Economic Development Corporation, Griffiss Local Development Corporation, Johnstown Economic Development Corporation, Upper Mohawk Valley Memorial Auditorium Authority, Upper Mohawk Valley Regional Water Finance Authority and the City of Utica Industrial Development Agency.
According to the ABO release, public authorities are required to file an annual report and audit report within 90 days of the end of the fiscal year. State authorities, according to the release, are required to submit a budget report 90 days prior to the start of the fiscal year and local authorities, according to the release, must submit a budget report 60 days prior to the start of the fiscal year.
