N.Y. Comp. Codes R. & Regs. tit. 9 § 1646-2.3

Current through Register Vol. 46, No. 25, June 18, 2024

Section 1646-2.3 - Instructions in use of development cost budget

(a) Approval by commissioner. Upon receipt of written advice from the division of approval of a development cost budget or bond sale budget for a project, the amounts reflected in column (4) of such budget shall become controlling with respect to development cost expenditures and shall be recorded for control purposes in the development cost analysis ledger, in column (2) of the Analysis of Expenditures and Budget Control Statement, form DH 213, and in column (2) of the Certificate of Purposes, form DH-216, thereafter submitted. Such amounts shall not be altered without the written approval of the division.

(b) Overruns. The following procedure is established in reference to development cost expenditures in excess of development cost budget amounts, as approved by the commissioner.

(1) Restricted items. Expenditures for restricted items are limited to the amounts approved by the division. Restricted items include land acquisition, architectural, engineering, and construction contracts, legal services and expenses, appraisals, negotiation costs, etc., where the local agency is required to obtain the prior written approval of the division before entering into a commitment or making an expenditure.

(2) Other items. Approval is hereby given to exceed by not more than 20 per cent the amount budgeted for any item other than a restricted item, provided that the total expenditures for a group of development cost accounts (viz: 1410, 1420, etc. groups) shall not thereby exceed the amount provided therefor in the approved budget without the prior written approval of the division.

(3) Similar provisions set forth in subdivision (d) of section 1646-3.2 apply with respect to overruns on amounts requested on approved certificates of purposes.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 1646-2.3