File #: 24-050    Version: 1
Type: Resolution Status: Consent Agenda
File created: 5/29/2024 In control: Board of Commissioners
On agenda: 6/25/2024 Final action:
Title: CY 2023 Louisiana Compliance Questionnaire
Attachments: 1. LOUISIANA_AUDIT_COMPLIANCE_QUESTIONNAIRE_Government_2023, 2. CY 2023 Louisiana Compliance Questionnaire
Related files: 21-039, 22-061, 23-062

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CY 2023 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 2023 financial audit.

AGENDA NO: Click or tap here to enter text.  

ACTION REQUEST: Approval     Review Comment  Information Only    Other

 

RECOMMENDATION:

recommendation

Authorize the Chief Financial Officer to complete and submit the 2023 Louisiana Compliance Questionnaire.

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ISSUE/BACKGROUND:

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The Louisiana Compliance Questionnaire is a required part of a financial audit of Louisiana state and local government and quasi-public agencies.

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DISCUSSION:

The State Legislative Auditor requires that the Louisiana Compliance Questionnaire be presented to and adopted by the governing body of the New Orleans Regional Transit Authority by means of a formal resolution in an open meeting.

FINANCIAL IMPACT:

There are no costs associated with completing the CY2023 Louisiana Compliance Questionnaire.  Annual audits can significantly reduce costs related to 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.

NEXT STEPS:

Staff will be authorized to submit the Questionnaire as required by the State Legislative Auditor.

ATTACHMENTS:

1.                      Resolution Adopting CY2023

2.                      LA Compliance Questionnaire

 

 

 

 

 

 

 

Prepared By:                                          Jessica M. Lang

Title:                                                               Business Analyst

                                          

Reviewed By:                     Mark A. Major

Title:                                                               Deputy CEO, Administration & Finance

 

Reviewed By:                     Gizelle Johnson-Banks

Title:                                                               Chief Finance Officer

 

 

                                                               6/7/2024

Lona Edwards Hankins                                                                                    Date                                          Click or tap here to enter text.

Chief Executive Officer