File #: 2019-0161   
Type: Informational Report Status: Agenda Ready
File created: 3/12/2019 In control: Finance, Budget and Audit Committee
On agenda: 4/17/2019 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, 2018.
Sponsors: Finance, Budget and Audit Committee
Indexes: Annual reports, Audit, Databases, Evaluation and assessment, Financial Audit, Grant Aid, Informational Report, Low Carbon Transit Operations Program, Project, Prop 1b - Highway and Port Safety and Air Quality Bond Act, Service Authority For Freeway Emergencies, Transportation Development Act of 1971
Attachments: 1. Attachment A - SAS 114 Letter.pdf, 2. Attachment B - Single Audit Report.pdf, 3. Attachment C - Federal Funding Allocation Data.pdf, 4. Attachment D - National Transit Database Financial Data Procedures.pdf, 5. Attachment E - Transportation Development Act Operations Agency.pdf, 6. Attachment F - Transportation Development Act & Prop 1B PTMISEA Planning Agency.pdf, 7. Attachment G - State Transit Assistance Special Revenue Fund.pdf, 8. Attachment H - Crenshaw Project Corporation.pdf, 9. Attachment I - Service Authority for Freeway Emergencies.pdf, 10. Attachment J - Low Carbon Transit Operations Program Compliance Report.pdf
Related files: 2020-0149
Date Action ByActionResultAction DetailsMeeting DetailsAudio
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Meeting_Body

FINANCE, BUDGET AND AUDIT COMMITTEE
APRIL 17, 2019


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, 2018.

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, 2018:
> Comprehensive Annual Financial Report for the Los Angeles County Metropolitan Transportation Authority for the year ended June 30, 2018;
> Independent Auditor's SAS 114 letter covering required communications; Los Angeles County Metropolitan Transportation Authority Single Audit Report for fiscal year ended June 30, 2018;
> Independent Accountant's 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, 2018;
> Independent Accountant's Report on Applying Agreed-Upon Procedures National Transit Database Financial Data Procedures by the Los Angeles County Metropolitan Transportation Authority for the Transportation Operating Agency (ID# 90154) for the fiscal year ended June 30, 2018;
> Independent Auditor's Report on Compliance with the California Code of Regulations (Section 6667); Report on Internal Control over Compliance; and Report on 50% Expenditure Limitation Schedule for the Los Angeles County Metropolitan Transportation Authority Transportation Development Act Operations Agency for the fiscal year ended June 30, 2018;
> Independent Auditor's Report on Compliance with the California Code of Regulations (Sections 6640-6662); Rep...

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