N.Y. Comp. Codes R. & Regs. tit. 9 § 1640-4.1

Current through Register Vol. 46, No. 25, June 18, 2024
Section 1640-4.1 - General

The term indeterminate expenditure refers to those expenditures made by a local agency with respect to a planned or proposed project prior to the date of the duly executed and approved contract for State aid for that project. This date has previously been defined as marking the beginning of the development period. Funds advanced or to be advanced by the State may not be used to meet indeterminate expenditures, and the local agency must look to other sources for its funds. Such other sources may, however, upon execution and approval of the contract for State aid and after audit, review, and approval of the expenditures by the division, be reimbursed, out of loan funds advanced or to be advanced by the State, for such expenditures as are approved by the division as being eligible charges to the development cost of the project.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 1640-4.1