§ 8. Functions of the board. 1. In carrying out the purposes of this\nact, the board shall perform the following functions:\n a. As set forth in section nine of this act, the board shall (i)\nconsult with the city and the covered organizations in the preparation\nof the financial plan, and certify to the city the revenue estimates\napproved therein, (ii) prescribe the form of the financial plan and the\nsupporting information required in connection therewith, and (iii)\nexercise the rights of approval, disapproval and modification with\nrespect to the financial plan, including but not limited to the revenue\nestimates contained therein.\n b. As set forth in section ten of this act, the board shall establish\nand adopt procedures with respect to the deposit of revenues of the city\nand the covered organizations in the fund and the disbursement of moneys\nfrom the fund.\n c. The board shall, from time to time and to the extent it deems\nnecessary or desirable in order to accomplish the purposes of this act,\n(i) review the operations, management, efficiency and productivity of\nsuch city operations and of such covered organizations or portions\nthereof as the board may determine, and make reports thereon; (ii) audit\ncompliance with the financial plan in such areas as the board may\ndetermine; (iii) recommend to the city and the covered organizations\nsuch measures relating to their operations, management, efficiency and\nproductivity as it deems appropriate to reduce costs and improve\nservices so as to advance the purposes of this act; and (iv) obtain\ninformation on the financial condition and needs of the city and the\ncovered organizations. Nothing herein shall diminish the powers of the\ncomptroller otherwise provided by law and the board may request the\nassistance of the comptroller in the performance of the above functions.\n d. The board shall (i) receive from the city and the covered\norganizations and from the comptroller, and review, such financial\nstatements and projections, budgetary data and information, and\nmanagement reports and materials as the board deems necessary or\ndesirable to accomplish the purposes of this act, and (ii) inspect, copy\nand audit such books and records of the city and the covered\norganizations as the board deems necessary or desirable to accomplish\nthe purposes of this act.\n e. All contracts entered into by the city or any covered organization\nmust be consistent with the provisions of this act and must comply with\nthe requirements of the financial plan as approved by the board. With\nrespect to all contracts or other obligations to be entered into by the\ncity or any covered organization after May first, nineteen hundred\neighty-four, requiring the payment of funds or the incurring of costs by\nthe city or any covered organization:\n (i) Within twenty days from May 2, 1984, the city manager shall\npresent to the board proposed regulations respecting the categories and\ntypes of contracts and other obligations required to be reviewed by the\nboard pursuant to this subdivision. Within thirty days from May 2, 1984,\nthe board shall approve or modify and approve such proposed regulations\nor promulgate its own in the event that such proposed regulations are\nnot submitted to it within the twenty days as provided for herein. Such\nregulation may thereafter be modified by the board from time to time on\nnot less than thirty days notice to the city manager on or before\nDecember 31, 1991 and thereafter to the mayor and the city manager, or\nmayor, respectively, may from time to time propose modifications to the\nboard. Unless expressly disapproved or modified by the board within\nthirty days from the date of submission by the city manager or mayor,\nany such proposed regulations or modifications shall be deemed approved\nby the board;\n (ii) Prior to entering into any contract or other obligation subject\nto review of the board under its regulations, the city or any covered\norgan
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