Section 1276-B. Authority budget and financial plan

1. In addition to the
  requirements of section twenty-eight hundred two of this  chapter,  each
  authority  budget and plan shall be posted on its website and shall: (a)
  present information relating to the authority and each of  its  agencies
  in  a  clear  and  consistent  manner  and  format;  (b)  be prepared in
  accordance with generally  accepted  accounting  principles,  except  as
  otherwise  consented to by the comptroller upon good cause shown; (c) be
  based on reasonable assumptions and methods of estimation;  (d)  include
  estimates of projected operating revenues and expenses; (e) identify any
  planned  transaction  that  would shift resources, from any source, from
  one fiscal year to another, and the amount  of  any  reserves;  and  (f)
  contain  a  summary in plain English of the principal information in the
  budget and conclusions to be drawn from it.
    2. Supporting documentation. The  authority  shall  prepare  and  make
  available  for public inspection on its website information that details
  the sources of data and the assumptions and methods of  estimation  used
  to  calculate  all  operating and capital budget projections, consistent
  with generally accepted budgetary practices.
    3. The authority shall  establish  at  least  annually  the  quarterly
  revenue  and  expense targets for the authority, and for each subsidiary
  or other authority created by the authority  itself  and  for  which  it
  reports financial data.
    4.  Monitoring  the  budget  and  financial  plan. The authority shall
  prepare and make available for public inspection  on  its  website:  (a)
  within  sixty  days of the release of the adopted budget and any updates
  to the budget (except updates released within ninety days of  the  close
  of  the fiscal year), monthly projections for the current fiscal year of
  all revenues and expenses, staffing for the authority and  each  of  its
  agencies,  and  utilization  for  each  of the authority's agencies that
  operate transportation  systems,  including  bridges  and  tunnels;  (b)
  within  sixty  days  after  the  close  of each quarter, a comparison of
  actual revenues and expenses, actual staffing and actual utilization  to
  planned  or  projected  levels for each of the authority's agencies that
  operate transportation systems, including bridges and tunnels,  with  an
  explanation  of each material variance and its budgetary impact; and (c)
  within ninety days after the close of each quarter, the status  of  each
  gap-closing  initiative  with a projected value greater than one million
  dollars in any given fiscal year; the  status  of  capital  projects  by
  capital  element, including but not limited to commitments, expenditures
  and completions; and an explanation of material variances from the plan,
  cost overruns and delays.
    5. Strategic operation plan.  Financial  information  required  to  be
  submitted by the authority pursuant to paragraphs d and e of subdivision
  one  of  section  twelve  hundred  sixty-nine-c  of  this title shall be
  presented  in  a  format  consistent  with  the  budget  and  plan,   in
  downloadable, searchable format.