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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
William Greene |
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PRESENTER(S): |
Troy Bingham |
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TITLE:
title
2021 UTA Annual Comprehensive Financial Report (ACFR) and National Transit Database (NTD) Agreed Upon Procedure Report
end
AGENDA ITEM TYPE:
Audit - Approval
RECOMMENDATION:
Approve the 2021 UTA Annual Comprehensive Financial Report (ACFR) and National Transit Database (NTD) Agreed Upon Procedure Report
BACKGROUND:
Provisions within the Public Transit District Act, 17B-2a-808.1(2)(p), UTA’s By-Laws, Article VII, Section 6, and the Board of Trustee Policy 2.1, Financial Management, all require the use of a qualified independent auditing firm to conduct an annual financial audit and to present the results of their annual audit to the UTA’s Audit Committee and the Board of Trustees. Crowe LLP was selected to conduct the 2021 financial audit and NTD agreed upon procedures. They have completed reports and have presented their results to UTA’s Audit Committee at the June 27th meeting.
DISCUSSION:
Upon acceptance at the Audit Committee meeting, UTA staff submitted the 2021 Annual Comprehensive Financial Report (“ACFR”) to the Government Finance Officers Association’s Certificate of Excellence in Financial Reporting program by the deadline of June 30.
ALTERNATIVES:
The Board of Trustees may seek additional information and delay acceptance of the 2021 UTA Financial Audit Report
FISCAL IMPACT:
N/A
ATTACHMENTS:
1) 2021 Letter to the audit committee
2) 2021 ACFR which includes the Annual Comprehensive Financial Report, the Single Audit Report, and the Utah State Compliance Report
3) 2021 NTD Agreed Upon Procedure Report