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CY 2025 Financial Audit, Single Audit and Statewide Agreed-Upon Procedures Acceptance
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DESCRIPTION: Request Acceptance of the 2025 Financial Audit, Single Audit and Statewide Agreed-Upon Procedures conducted by Plante & Moran, PLLC. |
AGENDA NO: Click or tap here to enter text. |
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ACTION REQUEST: ☒ Approval ☐ Review Comment ☐ Information Only ☐ Other |
RECOMMENDATION:
recommendation
Acceptance of the 2025 Financial Audit, Single Audit and Statewide Agreed-Upon Procedures conducted by Plante & Moran, PLLC.
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ISSUE/BACKGROUND:
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Plante & Moran, PLLC has completed the RTA’s Financial Audit, Single Audit, and Statewide Agreed-Upon Procedures (SAUP) engagement for the year ended December 31, 2025. The financial statement audit was conducted in accordance with generally accepted auditing standards in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. The Single Audit addressed compliance with applicable federal award requirements, while the SAUP engagement focused on selected control and compliance areas established by the Louisiana Legislative Auditor (LLA). Together, these engagements support The Regional Transit Authority’s (RTA) accountability for public funds, transparency in its financial activities, and efforts to strengthen internal controls and remain compliant with applicable state and federal laws, regulations, and award program requirements.
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DISCUSSION:
Acceptance of the 2025 Financial Audit, Single Audit and Statewide Agreed-Upon Procedures reports is requested from the Board of Commissioners.
Plante & Moran, PLLC completed an in-depth review of internal control systems, financial statements, and supporting documents. The firm reported two findings related to the financial reporting and compliance:
2025-001 Significant deficiency related to the Schedule of Expenditures of Federal Awards (SEFA) preparation. RTA has adopted procedures to strengthen the preparation and review process.
2025-002 Compliance-related finding regarding late submission of the audit report to the LLA.
Plante & Moran, PLLC reported no federal program audit findings in the 2025 Single Audit Report. RTA received an unmodified opinion on its financial statements, which is the best opinion that an entity can receive.
Plante & Moran, PLLC also completed the SAUP engagement for the fiscal year ended December 31, 2025, in accordance with the guidelines established by the LLA. The procedures focused on selected control and compliance areas applicable to the RTA.
Management has provided corrective actions, detailed in the attachment, to address the exceptions noted in the SAUP report. These actions include updates to procurement, travel, and other policies and procedures; strengthened internal controls and oversight; and improved recordkeeping, employee training, and reporting practices.
FINANCIAL IMPACT:
None.
NEXT STEPS:
RTA will implement the corrective actions outlined in management’s responses to the audit findings and SAUP exceptions. Internal processes will be reviewed and strengthened to support compliance and timely submission of future audit reports.
ATTACHMENTS:
1. Board Resolution
2. 2025 Financial Audit, Single Audit, Statewide Agreed-Upon Procedures Final Report and Corrective Actions
3. Plante & Moran Letter dated 09.28.26
Prepared By: Jessica M. Lang
Title: Business Analyst
Reviewed By: Gizelle Johnson-Banks
Title: Chief Financial Officer
11/4/2026
Ronald G. Baptiste Date
Interim Chief Executive Officer