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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Viola Miller, CFO |
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PRESENTER(S): |
Rob Lamph, Comptroller |
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TITLE:
title
2025 UTA Annual Comprehensive Financial Report (ACFR) and National Transit Database (NTD) Agreed upon Procedure Report
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AGENDA ITEM TYPE:
Other Approval
RECOMMENDATION:
Accept the 2025 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 (the “Act”), UTA’s Bylaws, 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 UTA’s Audit Committee and the Board of Trustees.
Crowe LLP was selected to conduct the 2025-2029 financial audits and NTD agreed upon procedures. They have completed the required reports and will present their results to UTA’s Audit Committee.
DISCUSSION:
Crowe LLP has completed their financial audit reports and will present their results at UTA’s June 22, 2026 Audit Committee meeting where the Committee will make a recommendation regarding acceptance of the reports by the Board of Trustees.
Upon acceptance of the reports by the Board of Trustees, UTA staff will submit the 2025 ACFR to the Council of Governments as required in the Act, and 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 2025 UTA Financial Audit Report.
FISCAL IMPACT:
N/A
ATTACHMENTS:
• 2025 Letter to the Board of Trustees and Audit Committee (SAS114 Letter)
• 2025 ACFR which includes the Annual Comprehensive Financial Report, the Single Audit Report, and the Utah State Compliance Report
• UTA Management Letter
• 2025 NTD Agreed Upon Procedure Report