Members of PSTA’s Finance and Performance Committee listened to a glowing review of the agency’s financial practices yesterday as representatives from the independent CPA firm of Mayer Hoffman McCann, P.C. presented their report on PSTA’s 2013 annual audit. The audit found no material weaknesses or significant deficiencies and auditors had no recommendations for improvements to PSTA’s internal controls. Agency leaders say that’s a fancy way of saying that they passed with flying colors.
Based on the auditor’s work, PSTA leaders will now be submitting their FY 2013 Comprehensive Annual Finance Report to the Government Finance Officers Association for consideration for that group’s prestigious Certificate of Achievement for Excellence in Financial Reporting Program. During her presentation on the audit to PSTA officials, lead auditor Laura Krueger Brock commented, “You guys did a great job. You should be very proud of this accomplishment.”
The results will be presented to the entire PSTA Board of Directors at their monthly meeting at 9:00 am on March 19, 2014. Agency leaders stress the importance of the audit findings being proof positive that PSTA is a good steward of taxpayer dollars.
This November, the agency will be asking Pinellas County voters to change its funding source from its current property tax to a 1% sales tax. If approved, PSTA will then eliminate its ad valorem tax of .7305 mils and begin implementation of transformational changes and enhancements to the county’s transit system as part of the Greenlight Pinellas Plan. That plan features significantly improved, countywide bus service along with the installation of a future light rail system. Details, questions and answers, study data and videos can all be found at www.greenlightpinellas.com.