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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
2024 UTA Annual Comprehensive Financial Report (ACFR) and National Transit Database (NTD) Agreed Upon Procedure Report
end
AGENDA ITEM TYPE:
Other Approval
RECOMMENDATION:
Accept the 2024 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 Bylaws, Article VII, Section 6; and the UTA Board of Trustee Policy 2.1, Financial Management, 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.
DISCUSSION:
Crowe LLP has completed their financial audit reports and presented their results at UTA’s June 16, 2025 Audit Committee meeting where the Committee recommended acceptance of the reports by the Board of Trustees.
Upon acceptance of the reports by the Board of Trustees, UTA staff will submit the 2024 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 2024 UTA Financial Audit Report.
FISCAL IMPACT:
N/A
ATTACHMENTS:
1) 2024 Letter to the Board of Trustees and Audit Committee
2) 2024 ACFR which includes the Annual Comprehensive Financial Report, the Single Audit Report, and the Utah State Compliance Report
3) 2024 NTD Agreed Upon Procedure Report