Business Council Releases Statement on Executive Order 38 Implementation
Executive Order imposes overhead and executive limits on entities with service contracts and grants with state agencies
ALBANY, NY (05/16/2012)(readMedia)-- The proposed regulations are designed to implement Executive Order 38, issued by Governor Cuomo in January 2012 to limit excessive compensation and administrative expenses at service providers that receive state funds or state-authorized payments of federal funds.
"These draft regulations help focus the Executive Order's implementation on areas where concerns have been raised about excess compensation and overhead," said Heather Briccetti, president and CEO of The Business Council of New York State, Inc. "While we continue to review this proposal, we appreciate this effort to clarify the Executive Order's applicability and compliance requirements. It is an important initiative and will help assure that state funds are well spent."