Welcome to your daily briefing on government developments in New York. Today we're covering 5 key stories including updates on new york government headlines, background & context. Let's dive in.
2 stories
The Empire State Purchasing Group now lists bids, RFPs, and state government contracts on the BidNet Direct platform.
NY procurement and contracting professionals can access a centralized hub for state solicitations.
FindRFP offers a centralized database of New York bids, RFPs, and government contracts from state and local governments, available with a free trial.
Government professionals in NY can streamline their procurement research and identify new contracting opportunities through this aggregated resource.
Reach professionals in this market
3 stories
Most state open-meeting laws require posted notice with sufficient specificity for the public to know what is being decided. Generic "discussion of personnel matters" or "old business" descriptions routinely fail challenge, voiding any vote taken on items not specifically noticed.
A voided action requires a re-vote at a properly noticed meeting — including any contract execution that depended on it. Counterparties to voided contracts have leverage they did not have before the defect surfaced.
Before incurring any cost on a federal grant, the question is whether 2 CFR 200 (Uniform Guidance) treats the cost as allowable, allocable, and reasonable. "Reasonable" is the most-litigated of the three; auditors will second-guess it after the fact using a prudent-person standard.
Disallowed costs must be repaid, with interest, and in serious cases trigger pass-through audits of other grants. The standard does not distinguish between intent and oversight.
MSRB Rule 15c2-12 requires issuers to file notice of certain events within 10 business days. The list runs to 16 categories now, including some (insolvency of obligated person, modifications to rights of bondholders, financial obligations material to investors) that are easily missed without a tracking process.
A pattern of late or missed event filings can trigger SEC enforcement and impair the issuer's future market access. The reputational cost outlasts the immediate penalty.
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