N.Y. Comp. Codes R. & Regs. tit. 9 § 1647-3.2
Current through Register Vol. 46, No. 25, June 18, 2024
The amount set aside for painting and decorating reserves at the end of each calendar quarter shall be equal to one quarter of the average annual estimate of painting and decorating expenses less the actual painting and decorating expense incurred during each quarter. However, with respect to a given fiscal year, the amount set aside for any portion of such fiscal year shall not exceed the prorated average annual estimate less the actual expense for such portion of the year. The average annual estimate of painting and decorating expense shall be in accordance with the operating budget, as approved by the division.
N.Y. Comp. Codes R. & Regs. Tit. 9 § 1647-3.2