NYS PUBLIC AUTHORITY BOARD GOVERNANCE TRAINING
The NYS Authorities Budget Office sponsors regional training offered by the City University of New York School of Professional Studies for board of director members of state and local public authorities ("directors"). The purpose of the training is to assist directors to better function in their oversight role and to perform their duties in a manner that confirms to the highest standards of responsible governance. Participation in this training enables directors to satisfy New York State Public Authorities Law Article 9, Title 2 (established with "The Public Authorities Accountability Act of 2005"), which requires them to complete training their legal, ethical and fiduciary responsibilities. The training will also address changes outlined in the Public Authorities Reform Act of 2009 and priorities identified by the ABO.
Board Oversight and Responsibilities: This session provides directors with an overview of their governance duties and responsibilities. One of the key themes emphasized is that directors should be independent and work to fulfill the mission of the authority. The session also covers the structure of effective boards, the board's relationship with management, and evaluating board effectiveness.
Audits and Audit Committee Responsibilities: This session provides a comprehensive introduction to Audit Committees as new legislation in New York State requires authority boards to establish them.
Budgeting for Public Authorities: This session provides directors with an overview of what is necessary to oversee the budgeting process, including setting goals, allocating resources, and performance measurement.
Overseeing Tax-Exempt Debt Issuance: This session provides those directors who are not bond financing professionals with an overview of the different types of tax-exempt debt, a description, with emphasis on what directors need to know, of how bond offerings are structured, and suggested policies.
Understanding Authority Financial Statements: This session provides board members who are not financial professionals with a detailed overview of how to read and understand the balance sheet, income and cash flow statements of a public authority.
These seminars are conducted by experienced instructors who are knowledgeable about the challenges and opportunities that public authority leaders face. Directors completing the session entitled "Board Oversight and Responsibilities" and two additional sessions will be reported to the Authority Budget Office as having satisfied the initial training requirement described in the Public Authorities Law. Enrollment is limited to board members and executive directors (or their designees) of state and local public authorities. Prospective attendees are requested submit a Registration Form early, as space is limited.
Authorities interesting in sponsoring additional training in their locality should Contact SPS
Customized Training
Customized sessions on for individual institutions can be conducted. Contact SPS for more information.
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