As used in this act, the following words and terms shall have the following meanings unless the context shall indicate another or different meaning or intent.
1."Available funds" means at any date the amounts in the fund which are then available, as determined by the board, to be applied to the purposes stated in paragraph (iii) of subdivision four of section ten of this act after provision has been made for the application of amounts in the fund for the purposes stated in paragraphs (i) and (ii) of subdivision four of section ten of this act.2."Board" means the governmental agency created by section six of this act.3."City" means the city of Yonkers.4."City manager" means the city manager of the city of Yonkers.5."Comptroller" means the comptroller of the state of New York.6."Covered organization" means any governmental agency, public authority or public benefit corporation which receives or may receive moneys directly, indirectly or contingently, (other than moneys received for the sale of goods or the rendering of services or the loan of moneys to the city) from the city, and in any event includes, without limitation, the board of education of the city school district of the city of Yonkers. Notwithstanding the foregoing, the board, by order made on its own motion or on application of a covered organization may specifically exempt the organization from inclusion as a covered organization after a finding by the board that an exemption does not materially affect the ability of the city to adopt and maintain a budget pursuant to the provisions of this act; provided that at the time of and during the period of the exemption there is supplied to the board, an annual audit by an independent certified public accounting firm (or by a public accountant licensed by the state of New York to conduct such audits) of the organization's financial statements performed in accordance with generally accepted auditing standards and a report thereon by the auditor which includes an opinion that the audited financial statements have been prepared in accordance with generally accepted accounting principles and any other information as the auditor deems appropriate; provided further however, that the board may terminate the exemption after a determination that the circumstances upon which the exemption was granted are no longer applicable.
In no event however, shall the term "covered organization" mean or include any governmental agency which is (i) a state public authority as defined in section two hundred one of the civil service law, or (ii) a governmental agency, authority, commission or instrumentality created by compact or agreement between the state of New York and another state or states, or (iii) a subsidiary corporation of an agency described in (i) or (ii) hereof.
7."Emergency period" means the period of time from the effective date of this act until the date when the board determines that (a) the operating and capital funds of the city shall have been in balance for three fiscal years in accordance with the accounting methods prescribed for the city's budget by the state comptroller pursuant to section thirty-six of the general municipal law, (b) the amount of all loans made by the state to the city to fund the operating deficit incurred by the city in its fiscal year ending June thirtieth, nineteen hundred eighty-four or any fiscal year thereafter has been repaid in full, and (c) the city has presented a financial plan that projects operating and capital fund balance for the four years covered by such plan in accordance with the accounting methods prescribed for the city's budget by the state comptroller pursuant to section thirty-six of the general municipal law.8."Financial plan" means the financial plan of the city and the covered organizations to be developed pursuant to section nine of this act, as from time to time modified.9."Fund" means the emergency financial control board fund for the city of Yonkers established pursuant to subdivision one of section ten of this act.10."Revenues" mean all taxes, federal and state aid, rents, fees, charges, payments, all proceeds from borrowings and other income and receipts paid or payable to or for the account of the city or any of the covered organizations, subject to the requirements imposed by the special fiscal act.11."Special fiscal act" means the special local finance and budget act of the city of Yonkers, as enacted by chapter four hundred eighty-eight of the laws of nineteen hundred seventy-six.12."Mayor" means the mayor of the city of Yonkers.N.Y. Yonkers Financial Emergency Act § 2