File #: 2016-0169   
Type: Informational Report Status: Filed
File created: 2/18/2016 In control: Finance, Budget and Audit Committee
On agenda: 5/18/2016 Final action: 5/18/2016
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, 2015.
Sponsors: Finance, Budget and Audit Committee
Indexes: Amalgamated Transit Union, Audit, Evaluation and assessment, Financial Audit, Informational Report, Project, Prop 1b - Highway and Port Safety and Air Quality Bond Act, Service Authority For Freeway Emergencies, Transit authorities, Transportation Development Act of 1971
Attachments: 1. Attachment A - SAS 114, 2. Attachment B - LACMTA Single Audit 2015 - FINAL, 3. attachment C - 90154 Federal funding allocation, 4. attachment D - 90166 federal funding allocation, 5. Attachment E - revised FY15 TDA OPS 50% LIMIT- FINAL, 6. Attachment F - revised FY15 TDA_Prop1B (planning) FINAL, 7. Attachment G - revisedFY15 STA FS FINAL, 8. Attachment H - revised CPC Financial Report_FY15 - FINAL, 9. Attachment I - revised FY15 SAFE FS Final
Meeting_Body

FINANCE, BUDGET AND AUDIT COMMITTEE
MAY 18, 2016

Subject/Action
SUBJECT: BASIC FINANCIAL STATEMENTS AND COMPONENT AUDITS

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, 2015.

Issue
ISSUE

We are 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, 2015:
* Independent Auditors' Report on the Los Angeles County Metropolitan Transportation Authority's basic financial statements which include the financial statements of the governmental activities, business-type activities, each major fund and the aggregate remaining fund information of Metro as of and for the year ended June 30, 2015;
* Independent auditors' SAS 114 letter covering required communications;
* Los Angeles County Metropolitan Transportation Authority Single Audit Report Fiscal year ended June 30, 2015 which include:
o Independent Auditors' Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards; and
o Independent Auditors' Report on Compliance for Each Major Federal Program; Report on Internal Control over Compliance; and Report on the Schedule of Expenditures of Federal and State Awards as Required by OMB Circular A-133;
* 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, 2015;
* Independent Accountants' Report on Applying Agreed-Upon Procedures on the Los Angeles...

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