N.Y. State Finance Law 7 – Duties of department of taxation and finance
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§ 7. Duties of department of taxation and finance. The commissioner of taxation and finance shall receive all moneys paid into the treasury of the state, pay all warrants drawn by the comptroller on the treasury in a timely manner, make no payment out of the treasury except on the warrant of the comptroller, and annually report to the legislature an exact statement of the balance in the treasury, at the close of the preceding fiscal year, with a summary of the receipts into and payments from the treasury during such year.
Terms Used In N.Y. State Finance Law 7
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.