New York Codes, Rules and Regulations
Title 18 - DEPARTMENT OF SOCIAL SERVICES
Chapter XX - Youth Facilities Project Guarantee Fund
Part 1002 - Terms And Conditions For Guarantee Of A Loan Of A Lending Institution
Section 1002.4 - Reports

(a) When required by article 10-A of the Social Services Law an applicant-borrower shall register or shall continue to be registered as a charitable organization with the New York State Board of Social Welfare and shall file such annual and other reports as required by law and the rules of the New York State Board of Social Welfare. In addition, such applicant-borrower shall from time to time agree to make and shall make such reports as required by the fund.

(b) Any applicant-borrower which is an organization not registered or required to register pursuant to article 10-A of the Social Services Law shall agree to file and shall from time to time file such reports as may be required by the fund; and, also, within three months of the close of the organization's fiscal year, the organization shall file with the fund a balance sheet disclosing the organization's assets, liabilities and its fund-balances, and a statement of the organization's income and expenses for the fiscal year. The financial report shall be certified by the president and chief fiscal officer of the organization and such report shall have a statement by an independent public accountant that in the opinion of such accountant the balance sheet and statement of income and expenses fairly represent the financial operations and financial position of the organization.

(c) Within 15 days of filing with the Federal Internal Revenue Service an applicant-borrower shall deliver to the fund a duplicate copy of Federal form 990-A entitled "Return of Organization Exempt from Income Tax."