Meeting_Body
MEASURE M INDEPENDENT TAXPAYER OVERSIGHT COMMITTEE
MARCH 4, 2026
Subject
SUBJECT: MEASURE M AUDITS OF FISCAL YEAR 2025
Action
ACTION: RECEIVE AND FILE
Heading
RECOMMENDATION
Title
RECEIVE AND FILE the Independent Auditor's Report on:
A. Schedule of Revenues and Expenditures for Measure M Special Revenue Fund for the Fiscal Year ended June 30, 2025 (Attachment A), completed by BCA Watson Rice, LLP (BCA);
B. Compliance with Requirements Applicable to Measure M Ordinance and Measure M Local Return Guidelines for the Fiscal Year ended June 30, 2025 (Attachment B), completed by Vasquez & Company, LLP (Vasquez); and
C. Compliance with Requirements Applicable to Measure M Ordinance and Measure M Local Return Guidelines for the Fiscal Year ended June 30, 2025 (Attachment C), completed by Simpson & Simpson, CPAs (Simpson).
Issue
ISSUE
The oversight process stipulated in the Measure M Ordinance requires that an annual audit be completed within six months after the end of the fiscal year to determine compliance with the provisions of the Ordinance and the Measure M Guidelines developed by Metro related to the receipt and expenditure of sales tax revenues during the fiscal year. The audit must be provided to the Measure M Independent Taxpayer Oversight Committee (Committee) so that the Committee can review the results of the audit performed and make findings as to whether the Los Angeles County Metropolitan Transportation Authority (LACMTA) and local subrecipients are in compliance with the terms of the Ordinance.
Background
BACKGROUND
On November 8, 2016, Los Angeles County voters approved Measure M, which imposed a half-cent transaction and use tax for transportation, and the indefinite extension of an existing half-cent sales tax (Measure R) also dedicated to transportation and originally set to expire in 2039. Measure M, also known as the Los Angeles County Traffic Improvement Plan Ordinance (Ordinance), establishes an Independen...
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