Meeting_Body
MEASURE M INDEPENDENT TAXPAYER OVERSIGHT COMMITTEE
SEPTEMBER 10, 2025
Subject
SUBJECT: CONSOLIDATED AUDIT FOR FISCAL YEARS 2026-2030
Action
ACTION: APPROVE RECOMMENDATION
Heading
RECOMMENDATION
Title
APPROVE:
A. the Scope of Services (Attachment A) for the upcoming solicitation of qualified firms to provide consolidated financial and compliance audit services for fiscal years 2026-2030, which include the required audits of Measure M funds; and
B. the Evaluation Criteria (Attachment B) [SG1][DA2]for the selection of qualified firms.
Issue
ISSUE
The Measure M Ordinance [SG3][MD4]requires that Metro contract for an annual audit, to be completed within six months after the end of the fiscal year being audited, for the purpose of determining compliance with the provisions of the Measure M Ordinance relating to the receipt and expenditure of Sales Tax Revenues during such fiscal year. In addition, the annual audit should include a determination of whether recipients of Net Revenues allocated from these Subfunds have complied with the Measure M Ordinance and any additional guidelines developed for these Subfunds.
The Measure M Ordinance also requires the Measure M Independent Taxpayer Oversight Committee (MMITOC) approve the scope of services for the auditors of Measure M funds and to be involved in the solicitation and selection process of the auditors. To fulfill these requirements, Metro staff are requesting approval of the Scope of Services (Attachment A) and Evaluation Criteria (Attachment B) that will be included in the Request for Proposals (RFP) solicitation. The scope of services may be revised to clarify audit requirements consistent with the objectives and purpose of the Measure M Ordinance.
The solicitation and procurement process will follow Metro's Acquisition Policy for competitively negotiated procurements.
Background
BACKGROUND[SG5][MD6][SW7][MD8]
The Los Angeles County Metropolitan Transportation Authority (Metro),...
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