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Louisiana Compliance Questionnaire 2022
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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 2022 financial audit. |
AGENDA NO: Click or tap here to enter text. |
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ACTION REQUEST: ☒ Approval ☐ Review Comment ☐ Information Only ☐ Other |
RECOMMENDATION:
recommendation
Authorize the Chief Financial Officer to complete and submit the 2022 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 CY2022 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 and directed to submit the Questionnaire appropriately as required by the State Legislative Auditor.
ATTACHMENTS:
1. Resolution Adopting CY2022,
2. LA Compliance Questionnaire
Prepared By: Donna D. Bowman
Title: Executive Assistant
Reviewed By: Mark A. Major
Title: Deputy CEO, Administration & Finance
Reviewed By: Gizelle Johnson-Banks
Title: Chief Finance Officer
4/28/2023
Lona Edwards Hankins Date
Chief Executive Officer