File #: 2018-0037   
Type: Informational Report Status: Agenda Ready
File created: 2/6/2018 In control: Finance, Budget and Audit Committee
On agenda: 5/16/2018 Final action:
Title: RECEIVE AND FILE the Los Angeles County Metropolitan Transportation Authority's (Metro) basic financial statements and component financial statement audits completed by Crowe Horwath LLP (Crowe) for the fiscal year ended June 30, 2017.
Sponsors: Finance, Budget and Audit Committee
Indexes: Audit, Evaluation and assessment, Financial Audit, Informational Report, Low Carbon Transit Operations Program, Project, Prop 1b - Highway and Port Safety and Air Quality Bond Act, Service Authority For Freeway Emergencies, Transit authorities, Transportation Development Act of 1971, Transportation Infrastructure Finance and Innovation Act of 1998
Attachments: 1. Attachment A - Management Letter, 2. Attachment B - SAS 114, 3. Attachment C - Single Audit Report, 4. Attachment D - FY17 90154 NTD, 5. Attachment E - FY17 TDA OPS, 6. Attachment F - FY17 TDA Prop 1B, 7. Attachment G - STA FY17, 8. Attachment H - FY17 FR_CPC, 9. Attachment I - SAFE FY17, 10. Attachment J - LCTOP, 11. Attachment K - Single Audit 2015, 12. Attachment L - Single Audit 2016
Date Action ByActionResultAction DetailsMeeting DetailsAudio
No records to display.
Meeting_Body

FINANCE, BUDGET AND AUDIT COMMITTEE
MAY 16, 2018


Subject
SUBJECT: BASIC FINANCIAL STATEMENTS AND COMPONENT
AUDITS

Action
ACTION: RECEIVE AND FILE

Heading
RECOMMENDATION

Title
RECEIVE AND FILE the Los Angeles County Metropolitan Transportation Authority's (Metro) basic financial statements and component financial statement audits completed by Crowe Horwath LLP (Crowe) for the fiscal year ended June 30, 2017.

Issue
ISSUE

Metro is required to be audited annually by independent certified public accountants. The resulting reports include Metro's basic financial statements and following component audits for the year ended June 30, 2017:
> Comprehensive Annual Financial Report for the Los Angeles County Metropolitan Transportation Authority for the year ended June 30, 2017;
> Independent auditors' SAS 114 letter covering required communications;
> Los Angeles County Metropolitan Transportation Authority Single Audit Report Fiscal year ended June 30, 2017;
> Independent Accountants' Report on Applying Agreed-Upon Procedures on the Los Angeles County Metropolitan Transportation Authority's Federal Funding Allocation Data for the Transportation Operating Agency (ID# 90154) for the fiscal year ended June 30, 2017;
> Independent Auditors' Report on Internal Control over Financial Reporting and on Compliance with the California Code of Regulations (Section 6667) and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards and Report on 50% Expenditure Limitation Schedule for the Los Angeles County Metropolitan Transportation Authority Transportation Development Act Operations Agency for the year ended June 30, 2017;
> Independent Auditors' Report on Internal Control over Financial Reporting and on Compliance with the California Code of Regulations (Section 6640-6662) and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Stan...

Click here for full text