Meeting_Body
MEASURE R INDEPENDENT TAXPAYERS
OVERSIGHT COMMITTEE
NOVEMBER 4, 2020
Subject
SUBJECT: MEASURE R ORDINANCE AND LOCAL RETURN COMPARATIVE ANALYSIS
Action
ACTION: RECEIVE AND FILE
Heading
RECOMMENDATION
Title
Receive and file comparative analysis on the Independent Auditor's findings on Compliance with Requirements Applicable to Measure R Ordinance and Measure R Local Return Guidelines for the last four years.
Issue
ISSUE
The Measure R Oversight Committee requested that we provide a comparative analysis on the auditor's findings for the previous four years. This report is provided to fulfill this request for Fiscal Year 2016 - 2019.
Discussion
DISCUSSION
Metro contracted with two firms to conduct the audits for the reporting period which were Vasquez & Company, LLP (Vasquez) and Simpson & Simpson. The auditors have found that the cities and county generally complied with the requirements applicable to the Measure R Local Return Guidelines, with the exception of the City of Compton for FY 2016 and FY 2018 and the City of South El Monte in FY 2019. The auditors found a compliance rate of:
* 97% for FY 2016;
* 96% for FY 2017;
* 97% for FY 2018; and
* 97% for FY 2019.
The table below shows a summary of the findings by compliance area:
Compliance Area
FY 2016
FY 2017
FY 2018
FY 2019
Funds were expended with LACMTA's approval|1010
10|
11|1010|Expenditure Report (Form 2) was submitted on time|101010|
|1010||1010|Expenditure Plan (Form 1) was submitted on time|1010|15
|101010|Funds were expended for transportation purposes|101010|
|101010|Admin Expenditures are within the 20% cap|1010|N/A
|1010|NA
Recreational Transit form was not submitted on time.|1010| N/A
N/A|1010|Timely Use of Funds
N/A|1010|
|1010|N/A
Accounting procedures, record keeping and documentation are adequate
N/A
N/A
|1010|N/A
Total Findings per Fiscal Year
29
32
28
23
Resolution of the deficiencies is discussed in another item wit...
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