Metro - File #: 2016-0578

• File #: 2016-0578
• Type: Informational Report
• Status: Filed
• File created: 7/21/2016
• In control: Finance, Budget and Audit Committee
• On agenda: 8/17/2016
• Final action: 8/17/2016
• Title: RECEIVE AND FILE the Consolidated Audit financial and compliance audit reports completed by Vasquez and Company (Vasquez) and Simpson and Simpson, CPA's (Simpson & Simpson) for the Fiscal Year ending June 30, 2015.
• Sponsors: Finance, Budget and Audit Committee
• Indexes: Audit, Commerce, Consolidated Audit, Design build, Evaluation and assessment, Ez Pass, Federal Transit Administration, Financial Audit, Formula Allocation / Local Return, Guidelines, Immediate Needs Transportation Program, Informational Report, Local Returns, Measure R, Memorandum Of Understanding, Program, Proposition A, Redondo Beach, Subsidies, Support for Homeless on Re-entry Program, Torrance, Transportation Development Act - Article 4, Transportation Development Act of 1971
• Related files: 2019-0385

Date	Action By	Action	Result
8/17/2016	Finance, Budget and Audit Committee

Meeting_Body
FINANCE, BUDGET AND AUDIT COMMITTEE
AUGUST 17, 2016


Subject/Action
SUBJECT: CONSOLIDATED AUDIT FOR FISCAL YEAR 2015

ACTION: RECEIVE AND FILE

Heading
RECOMMENDATION

Title
RECEIVE AND FILE the Consolidated Audit financial and compliance audit reports completed by Vasquez and Company (Vasquez) and Simpson and Simpson, CPA's (Simpson & Simpson) for the Fiscal Year ending June 30, 2015.

Issue
ISSUE

As the Regional Transportation Planner for Los Angeles County, we are responsible for planning, programming and allocating transportation funding to Los Angeles County jurisdictions, transit operators and other transportation programs. We have the fiduciary responsibility to provide assurance that recipients of funds included in the Consolidated Audit are adhering to the statutes, program guidelines, and/or agreements of each applicable funding source and that operations data used to allocate funds is fair and in accordance with Federal Transportation Authority (FTA) guidelines.

The Consolidated Audit process includes financial and compliance audits of the following programs:
* Measure R Local Return Program;
* Proposition 1B funds;
* Transportation Development Act (TDA) Article 3 and Article 8 Programs;
* Proposition A and Proposition C Local Return Programs;
* Proposition A Discretionary Incentive Program;
* Regional Transit Systems Operating funds and Measure R Operating and Clean Fuel Bus funds for the cities of Commerce, Redondo Beach and Torrance;
* Metrolink Program;
* EZ Transit Pass Program;
* Immediate Needs Transportation Program (INTP);
* Riders Relief Transportation Program (RRTP); and
* Support for Homeless on Re-Entry Program (SHORE).

We allocate over $400 million annually to these programs and distribute them to 88 cities in Los Angeles County, the County of Los Angeles and other agencies. Audits of these programs are needed to ensure that the agencies comply with the applicable rules, regulations, policies, guidelines and execu...