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Louisiana Compliance Questionnaire
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DESCRIPTION: The purpose of this resolution is to obtain board approval for the completion and submittal of the Louisiana Compliance Questionnaire in conjunction with the RTA’s calendar year 2020 financial audit. |
AGENDA NO: Click or tap here to enter text. |
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ACTION REQUEST: ☒ Approval ☐ Review Comment ☐ Information Only ☐ Other |
RECOMMENDATION:
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Authorize the Chief Operating Officer to complete and submit calendar year 2020 Louisiana Compliance Questionnaire.
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ISSUE/BACKGROUND:
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The Louisiana Compliance Questionnaire must be completed as part of the financial and compliance audits of Louisiana governmental units and quasi-public entities.
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DISCUSSION:
The State Legislative Auditor requires that the Questionnaire be presented to and adopted by the governing body of the RTA by means of a formal resolution in an open meeting.
FINANCIAL IMPACT:
There are no costs associated with the completion and submittal of the CY 2020 Louisiana Compliance Questionnaire. Annual audits can significantly reduce costs associated with unnecessary expenses and help track and solve internal issues. Additionally, the fundamental purpose of the audit is to provide independent assurance that management has, in its financial statements, presented a “true and fair” view of RTA’s financial performance and position.
NEXT STEPS:
Staff will be authorized and directed to submit the completed Questionnaire appropriately as required by the State Legislative Auditor.
ATTACHMENTS:
Resolution Adopting CY 2020 LLA Compliance Questionnaire
Prepared By: Dacia Johnson
Title: Administrative Analyst
Reviewed By: Mark Major
Title: Deputy Chief Financial Officer
Reviewed By: Gizelle Johnson - Banks
Title: Chief Financial Officer
4/6/2021
Alex Wiggins Date
Chief Executive Officer