N.Y. Transp. Law § 426

§ 426. Maintenance of records. In connection with each contract, the\ncommissioner and the municipality shall keep adequate records of the\namount of the payment by the state, the amount of federal assistance, if\nany, received by the municipality for the project, and of all moneys\nexpended by the municipality for such project. Such records shall be\nkept by the commissioner and shall establish the basis for\nrecalculations of the state payment as required herein. The commissioner\nshall have authority to carry out, or to cause to be carried out, audits\nof such contracts and records pursuant to rules and regulations\npromulgated by the commissioner.\n