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NY A01560
Bill
Status
1/9/2013
Primary Sponsor
Brian Kolb
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AI Summary
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Extends New York State's fiscal year from July 1-June 30 to May 1-April 30, beginning May 1, 2014, with a transition year from April 1, 2013 to April 30, 2014
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Moves school district budget elections from May to June and budget revotes from June to July to align with the new fiscal year calendar
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Changes city school district fiscal year from July 1-June 30 to August 1-July 31
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Requires the state comptroller to advise budget leadership within seven days of receiving financial plans on achieving a balanced budget using generally accepted accounting principles (GAAP) by April 30, 2015
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Grants the governor authority to make pro rata spending reductions if the governor and legislature do not enact measures to close identified budget gaps within 30 days, excluding legislative and judicial branch appropriations
Legislative Description
Changes the fiscal year to begin on the first of May; requires the use of generally accepted accounting principles in the state fiscal plan.
Last Action
held for consideration in ways and means
6/17/2014