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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Viola Miller, Chief Financial Officer |
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PRESENTER(S): |
Troy Bingham, Comptroller |
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TITLE:
title
2022 UTA Annual Comprehensive Financial Report (ACFR) and National Transit Database (NTD) Agreed Upon Procedure Report
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AGENDA ITEM TYPE:
Audit - Approval
RECOMMENDATION:
Accept the 2022 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)(o), 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 2020-2024 financial audits and NTD agreed upon procedures. They have completed reports and will present their results to UTA’s Audit Committee at the June 26th meeting.
DISCUSSION:
Upon acceptance, UTA staff submits the 2022 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 2022 UTA Financial Audit Report
FISCAL IMPACT:
N/A
ATTACHMENTS:
1) 2022 Letter to the audit committee
2) 2022 ACFR which includes the Annual Comprehensive Financial Report, the Single Audit Report, and the Utah State Compliance Report
3) 2022 NTD Agreed Upon Procedure Report