N.Y. Comp. Codes R. & Regs. tit. 9 § 1648-3.6

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

Section 1648-3.6 - Forecast of cash requirement

(a) Each subsidy requisition submitted to anticipate a debt service payment, or other requirements for cash, other than for an operating deficit shall include, in an original and two copies, a forecast of cash requirements. No standard form is prescribed for the forecast of cash requirements, inasmuch as individual situations will vary widely. A typical forecast of cash requirements is, however, shown as Exhibit 2 of Appendix S-13. A study of the exhibited form will show that each forecast will consist of two parts, viz: a section in which the cash available as of the debt service date is built up from the administration fund bank balance as of the close of the most recent calendar quarter and the estimated net revenue, from the latter date to the debt service date, after deducting from the estimated expenses for the period, the charges for debt service and other major items accrued for the period, and a section listing the requirements for cash for debt service and other major expenditures falling due near the debt service date.

(b) The forecast of a cash requirements is supplemented, in a requisition for subsidy for debt service, by sheet 1 of the subsidy schedule (see Exhibit 3 of Appendix S-13) in order to indicate that the subsidy requested is within the amounts of the maximum State subsidy and the value of the tax exemption subsidy, respectively. The amount requested must, of course, also be within the anticipated deficit reflected in the approved operating budget.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 1648-3.6