§ 1. Internal Controls.
154 words·~1 min read·
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Section 1. Internal Controls. Pursuant to Article six of the
Legislative Law as enacted by the New York State Governmental
Accountability, Audit and Internal Control Act of 1999, the following
guidelines for a System of Internal Controls are hereby established.
a. All financial transactions shall be executed in accordance with the
general or specific authorization of the Speaker or his or her
designated representative.
b. All financial transactions shall be recorded in conformity with
generally accepted accounting principles or other applicable criteria in
a manner to maintain accountability for assets.
c. Access to assets shall be permitted only in accordance with the
authorization of the Speaker or his or her designated representative.
d. The recorded accountability for assets shall be compared with the
existing assets at reasonable intervals and appropriate action shall be
taken with respect to any differences.
e. The System of Internal Controls shall provide reasonable assurance
that the foregoing are accomplished.