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| Sunday, May 17, 03:12:46pm | [ Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, 2, [3], 4, 5, 6, 7, 8, 9, 10 ] |
| Subject: Sound Transit financially healthy, says audit reportsSOUND TRANSIT is financially healthy, according to audits conducted by the Washington State Auditor and Deloitte & Touche. | |
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Date Posted: Tuesday, May 06, 06:52:37am In reply to: Newspapers reporting result--March 7 2003 SMH 's message, "Noteholders have tickets to ride" on Thursday, March 06, 08:38:56am http://www.seattlepress.com/article-10204.html Sound Transit financially healthy, says audit reports Dec 31, 1969 -- SOUND TRANSIT is financially healthy, according to audits conducted by the Washington State Auditor and Deloitte & Touche. Deloitte & Touche audited Sound Transit’s management of federal grants and other public funds in 2002 while the Washington State Auditor audited the agency’s 2001 financial management systems. "I can’t stress how unusual it is to audit programs of this scale and complexity and not have any findings," Deloitte & Touche auditor Laurie Tish told members of the Sound Transit Audit and Reporting Subcommittee. The annual audits are among numerous accountability and oversight measures at Sound Transit. Additional practices and structures for ensuring effective management of the public’s resources are summarized at the Sound Transit website. The Deloitte & Touche audit satisfied legal requirements for receiving federal funding, focusing on financial reporting and in-progress construction projects. The U.S. Department of Transportation’s Office of the Inspector General conducted its own separate audit of Deloitte & Touche’s work. The state audit addressed Sound Transit’s accountability for public resources, including purchases of goods and services, accounts receivable, payroll, cash receipting and travel. It also addressed compliance with legal requirements, including contracting and adherence to laws related to debt limitations, bond covenants, interlocal agreements and other issues. The state audit further found no problems with Sound Transit’s adherence to subarea equity, the agency’s operating framework that requires revenues generated in each of five geographic subareas to be used for the benefit of that subarea. Deloitte & Touche is working on a separate report on subarea equity compliance, scheduled to be completed next month. Sound Transit release, May 1 [ Next Thread | Previous Thread | Next Message | Previous Message ] |
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| Another four years of MetcardMay 26 2003 ERG One Link 2007 money allocated/cost ballpark/400m |  | Monday, May 26, 02:03:26am |