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The New York State Authorities Budget Office last week released a report that identified more than 200 state and local authorities that did not file a budget, annual or audit report as of Jan. 27 for the most recent reporting period as required by Public Authorities Law.
Among the local authorities included on the delinquent list was the Little Falls Urban Renewal Agency, which according to the ABO failed to submit its 2011 budget and annual reports.
Mayor Robert Peters on Friday said he took exception to the URA’s inclusion on the list.
“After a review of all the URA’s submissions and reports, I can honestly sit here and say everything that is required has been submitted to the state, with the exception of the audit report,” said Peters during an interview in the mayor’s conference room at City Hall. “The reports may not have been submitted in time to prevent the URA from falling on this list, but they have been submitted.”
Additionally, the mayor said the only reason why the URA’s 2011 audit report has not been submitted to the ABO is because the audit has not taken place yet.
“The city is yet to complete its audit, so there is no way to submit the report until that takes place,” said Peters. “The same goes for the 2012 budget, the discussions for which are taking place now. The reports will be submitted once the audit has been completed and once the budget has been approved. It’s difficult to submit reports when the information needed for them is not available.”
Peters added he does not want to see the URA fall out of compliance with the state.
“We’ve worked too hard to bring the agency into compliance to jeopardize it,” he said.
The ABO press release 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, including a written public censure or a recommendation that the directors of the authority and its management be removed.
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.
Other local agencies on the delinquent list included the St. Johnsville Urban Renewal Agency, 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.
The New York State Authorities Budget Office last week released a report that identified more than 200 state and local authorities that did not file a budget, annual or audit report as of Jan. 27 for the most recent reporting period as required by Public Authorities Law.
Among the local authorities included on the delinquent list was the Little Falls Urban Renewal Agency, which according to the ABO failed to submit its 2011 budget and annual reports.
Mayor Robert Peters on Friday said he took exception to the URA’s inclusion on the list.
“After a review of all the URA’s submissions and reports, I can honestly sit here and say everything that is required has been submitted to the state, with the exception of the audit report,” said Peters during an interview in the mayor’s conference room at City Hall. “The reports may not have been submitted in time to prevent the URA from falling on this list, but they have been submitted.”
Additionally, the mayor said the only reason why the URA’s 2011 audit report has not been submitted to the ABO is because the audit has not taken place yet.
“The city is yet to complete its audit, so there is no way to submit the report until that takes place,” said Peters. “The same goes for the 2012 budget, the discussions for which are taking place now. The reports will be submitted once the audit has been completed and once the budget has been approved. It’s difficult to submit reports when the information needed for them is not available.”
Peters added he does not want to see the URA fall out of compliance with the state.
“We’ve worked too hard to bring the agency into compliance to jeopardize it,” he said.
The ABO press release 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, including a written public censure or a recommendation that the directors of the authority and its management be removed.
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.
Other local agencies on the delinquent list included the St. Johnsville Urban Renewal Agency, 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.
