Municipal Assistance Corporation for the City of New York (MAC) was established through State legislation on June 10,1975 in order to address the New York City governments severe fiscal crisis


As you asking here I am telling responsibilities of Municipal assistance corporation new york,

Maintain the integrity of the Corporation’s fiscal health to protect the interest of the bond
holders and the City of Troy.
• Seek to reduce annual debt service costs, without extending the life of the debt.
• Seek to improve or maintain credit ratings.
• Produce and update four-year financial plans.
• Review annual budgets to ensure that revenues are available and sufficient to meet timely
semi-annual debt service payments and operating expenses.
• Provide independent auditors accurate financial records and information to ensure an
understanding of the Corporation’s activities.
• Provide annual financial statements in accordance with the Corporation’s General Bond
Resolution, with prescribed accounting principles, and in compliance with the reporting
requirements of the Office of the State Comptroller.
• Hold Annual board meetings to review and adopt certain documents in accordance with the
Public Authorities Law.
• Post Board-adopted documents on the Corporation’s webpage for public viewin


Board of Directors

Patrick T. Morphy, Chairman
Kenneth J. Baer
Francis M. Pitts
Daniel J. Hogarty, Jr.

Address
Offices of SaxBST LLP
26 Computer Drive West, Albany, New York 12205
Contact: Jewel Douglas 212-417-5067