In addition to information provided in Official Statements, the New York State Division of the Budget makes financial information about New York State available for informational purposes to investors. The Division of the Budget is committed to providing investors with complete, accurate, and timely disclosure of financial information and other developments relating to the State.
When the State or its Public Authorities issue bonds, the issuer undertakes a secondary market disclosure obligation, in addition to the information contained in the Official Statement relating to the bond offering, by contractually agreeing to (i) annually update certain financial information contained in the Official Statement, and (ii) provide timely notice of material events, if any.
Below are a few of the informational documents that the Division of the Budget makes available to investors.
Annual Information Statement (AIS)
The Annual Information Statement is the State’s principal means for disclosing information regarding the financial condition of the State of New York. The AIS is updated on a quarterly schedule and is supplemented from time to time between updates as events may warrant.
Annual Update/Material Event Notices
The Annual Update is prepared pursuant to an agreement to annually update certain financial information contained in the Official Statements used in connection with the issuance of bonds. In addition, Material Event Notices may be filed upon the occurrence of certain specified events to update investors in the secondary market.
For more information on the State’s financial position, please visit the New York State Division of the Budget’s website.