TO: Board of Trustees
FROM: William Greene, CFO
PRESENTER(S): Troy Bingham, Comptroller
TITLE:
title
2020 UTA Financial Audit Report (ACFR) and National Transit Database (NTD) Agreed Upon Procedure Report
end
AGENDA ITEM TYPE:
Report
RECOMMENDATION:
Accept the 2020 UTA Financial Audit Report and 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(II)(G)(4), 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 financial audit. They have completed their financial audit and presented their results to UTA’s Audit Committee on June 21, 2020.
DISCUSSION:
Upon acceptance, UTA staff will submit the 2020 Comprehensive Annual Financial Report (“ACFR”) to the Government Finance Officers Association’s Certificate of Excellence in Financial Reporting program.
ALTERNATIVES:
The Board of Trustees may seek additional information and delay acceptance of the 2020 UTA Financial Audit and NTD Agreed upon Procedure Reports.
FISCAL IMPACT:
None
ATTACHMENTS:
1. 2020 ACFR which includes the Annual Financial Statements, the Single Audit Report, and the Utah State Compliance Report. 2. 2020 NTD Agreed Upon Procedure Report.