Columbus – After being placed on the “unauditable” list in January, the Toledo Regional Transit Authority (TARTA) submitted the necessary documentation to allow the audit to move toward completion.
During the course of the regular financial audit of TARTA for the period January 1, 2010 through December 31, 2010, the Auditor of State’s office determined that the condition of the authority’s financial records were not adequate to complete the audit. Financial audits are usually completed within six months of the end of the entity’s fiscal year. In a letter to TARTA, the Auditor of State’s office provided a list of records required to complete the audit. For example, the authority needed to provide reconciliation information, as well as lists of purchases and disposals of fixed assets.
An entity is removed from the “unauditable” list once the audit is completed and released to the public.
The Auditor of State’s office, one of five independently elected statewide offices in Ohio, is responsible for auditing more than 5,600 state and local government agencies. Under the direction of Auditor Dave Yost, the office also provides financial services to local governments, investigates and prevents fraud in public agencies and promotes transparency in government.