Nov 27, 2017
S.O.R.T.A. RECEIVES AUDITOR OF STATE AWARD WITH DISTINCTION
A recent financial audit of the Southwest Ohio Regional Transit Authority by the Auditor of State’s office has returned a clean audit report.
CINCINNATI – A recent financial audit of the Southwest Ohio Regional Transit Authority by the Auditor of State’s office has returned a clean audit report. SORTA’s excellent record keeping has earned it the Auditor of State Award with Distinction.
“At Metro, we pride ourselves on our transparency and our accuracy, and we are proud to have received this award in recognition of our strong financial policies and practices,” said Metro Chief Financial Officer David Riposo.
The Auditor of State Award is presented to local governments and school districts upon the completion of a financial audit. Entities that receive the award meet the following criteria of a “clean” audit report:
- The entity must file timely financial reports with the Auditor of State’s office in accordance with GAAP (Generally Accepted Accounting Principles);
- The audit report does not contain any findings for recovery, material citations, material weaknesses, significant deficiencies, Single Audit findings or questioned costs;
- The entity’s management letter contains no comments related to:
- Ethics referral
- Questioned costs less than $10,000
- Lack of timely report submission
- Failure to obtain a timely Single Audit
- Findings for recovery less than $100
- Public meetings or public records
Metro is a non-profit, tax-funded public service of the Southwest Ohio Regional Transit Authority, providing about 15 million rides per year.