R89-74 AUTHORIZING THE EXECUTION OF A DOWNSTATE OPERATING ASSISTANCE AGREEMENT FOR MASS TRANSIT FOR FY '90

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PRELIMINARY REVIEW The preliminary review should include a review of the following : 1 . Chapter 111 2/3, Article II of the Downstate Public Transportation Act as Amended. The Auditor should review the entire Act with special emphasi s on the fol l owi ng secti ons : Sec. 662 .03 - Operating Deficit Sec. 662 . 04 - Eligible Operating Expenses Sec . 665. - Ap 1 i cati on for Grants art� cipant s a su mit to t e epartment at time of making application for grant, - Forms OP-1 thru 7 . Sec 666. - Allocation of Funds e epartment s a noti y each participant' s chief official no later than the first day of the fiscal year of i ts projected al l ocati ons for that fi scal year. Sec. 667 ( b) - Quarterly Re orts ac participan s a ave days before the end of each quarter to file with the Department on Forms OP-5 a report of the projected eligible operating expenses to be incurred in the next quarter and 30 days before the third and fourth quarters of any fiscal year a statement of actual eligible operating expenses incurred in the proceding quarters. Within 45 days of receipt by the Department of such quarterly report, the Treasurer shall order paid from the Downstate Public Tranporation Fund to each participant an amount equal to 40� of participant' s eligible operating expenses , provided however, that any such payment for the third and fourth quarters of any fiscal year shall be adjusted to reflect actual eligible operating expenses for preceding quarter of such fiscal year. Sec. 667( c) - Annual Audits o a er an ays o 1 owi ng the 1 ast day of the fi scal year each participant shall provide the Department with an audit prepared by a Certified Public Accountant covering that Fiscal Year. Any discrepancy between the grants paid, shall be reconcile� by appropriate payment or credit. 2 . Grant Program Agreement for the fiscal year being audited. 3. I11 i noi s Department of Transportati on , Rul es for State Operating Assistance to Downstate Areas, it e , . Administrative Code 653.