N.Y. State Finance Law 17 – Reports on financed equipment acquisitions
§ 17. Reports on financed equipment acquisitions. Within thirty days following the close of each calendar quarter, beginning with the calendar quarter ending on December thirty-first, nineteen hundred eighty-eight, the director of the budget shall, to the extent practicable, provide a report to the chairs of the senate finance committee and the assembly ways and means committee showing expenditures for lease purchase and installment purchase payments made by or on behalf of any state department and agency or any unit of the state university or city university of New York for financed equipment acquisitions during the preceding calendar quarter. Such reports shall be organized by agency, program, fund, and appropriation. State departments and agencies and units of the state university and the city university of New York, the state comptroller, and the commissioner of the office of general services shall assist the director in obtaining the information necessary to produce such reports.
Terms Used In N.Y. State Finance Law 17
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC