New York Consolidated Laws, Public Authorities Law - PBA § 3956. County fiscal year two thousand five budget modification and four-year financial plan

1. Not later than October first, two thousand five, the county executive, upon approval by the legislature, shall submit to the authority a budget modification and financial plan consistent with the financial plan requirements contained in section thirty-eight hundred fifty-seven of this article which may reflect a declaration of need as provided for in section thirty-nine hundred sixty-one of this title;  provided, however, in county fiscal year two thousand five such declaration of need shall not exceed one hundred twenty-five million dollars in ECFSA assistance as defined in paragraph (a) of subdivision twelve of section thirty-nine hundred fifty-one of this title.  The plan shall cover the county's two thousand five fiscal year and the three subsequent fiscal years.

2. Not later than fifteen days after such submission, the authority shall approve or disapprove the financial plan.

3. In the event the authority shall disapprove such financial plan based on disapproval of certain actions or assumptions, the authority shall promptly thereafter notify the county executive and legislature of its reasons.  Within fifteen days from the receipt of such notification the county executive, upon the approval of the legislature, shall modify the financial plan.  If the county fails to make such modifications, the authority shall adopt a resolution so finding.