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CY2021 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 2021 financial audit.
AGENDA NO: Click or tap here to enter text.
ACTION REQUEST:
? Approval ? Review Comment ? Information Only ? Other
RECOMMENDATION:
recommendation
Authorize the Chief Executive Officer to complete, submit, and execute the 2021 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 CY2021 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 and position.
NEXT STEPS:
Staff will be authorized and directed to submit the adopted and executed 2021 Louisiana Compliance Questionnaire to the auditing firm Carr, Riggs & Ingram, LLC. as required by the State Legislative Auditor.
ATTACHMENTS:
1. LA Compliance Questionnaire
2. Resolution Adopting CY2021 LLA Compliance Questionnaire
Prepared By: Dacia Johnson
Title: Administrative Analyst
Reviewed By: Mark A. Major
Title: Deputy CEO Administration & Finance
Reviewed By: Gizelle Johnson-Banks
Title: Chief Financial Officer
3/31/2022
Alex Wiggins Date
Chief Execu...
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