N.Y. Comp. Codes R. & Regs. tit. 14, § 577.5 – Financial reports.

(a) Each hospital shall maintain records, and shall prepare and submit to the commissioner financial and statistical reports in accordance with the requirements of the commissioner.
(b) All reports required to be prepared and submitted to the commissioner:
1. (1) shall be prepared in accordance with generally accepted accounting principles, unless otherwise required by the commissioner;
2. (2) shall be certified by an officer or administrator of the hospital; and
3. (3) shall be subject to audit pursuant to section 577.6 of this Part.
(c) Reports required to be submitted by subdivision (a) of this section shall be submitted within 120 days after the close of the hospital fiscal year.
(d) If a hospital fails to file the required reports on the date such reports are due, or fails to file corrected or additional reports within 30 days after notification by the commissioner that reports filed by the hospital were inaccurate, incomplete or incorrect, the commissioner may withhold payments to the hospital for a period beginning on the first day of the calendar month in which the required reports were due and continuing until the last day of the calendar month in which the required reports are filed.
(e) Each new hospital which has no previous cost experience or operating experience shall prepare and submit to the commissioner financial and statistical information in accordance with the requirements of the commissioner. Such reports shall include:
1. (1) A budget report is required to be prepared and submitted to the commissioner. Such report shall include:
  1. (i) a detailed financial plan, revenues and expenses and if requested by the commissioner, a line item budget with regard to staffing, personnel and detailed nonpersonal service costs including capital; and
  2. (ii) a detailed phase-in plan of routine and ancillary services, staffing levels and utilization by major program areas.
2. (2) Such budget report shall be compiled and submitted 90 days prior to the issuance of an operating certificate and shall cover the first 12 months of operation, unless otherwise specified by the commissioner.
(f) If information contained in reports filed with the commissioner is inaccurate, incomplete or incorrect, the hospital shall immediately file with the commissioner corrected reports which comply with the requirements of subdivision (b) of this section.