1. Keep
Monterey
County
Moving
Measure X aka Transportation Safety & Investment Plan Audits Rita Goel-Director of Finance & Administration Adam Guise-Moss, Levy & Hartzheim April 16, 2019

2. Measure X Audits Nov 2016-Ordinance 2016-01 Passed with 67.7% approval
April 1, 2017-Tax levy began
Revenue can only be used for
transportation related
projects in Monterey County

3. Measure X Audits TAMC has fiduciary responsibility
for administration which
includes financial audits
Audits done to ensure
compliance with
Ordinance

4. Measure X Audits Has access to the annual audits
Citizens Oversight Committee:
Has access to the annual
audits
Authority to request/review
specific financial information
Provide input to assure that
funds are being expended in
accordance with the plan

5. Independent Auditors for TAMC
Measure X Audits
Independent Auditors for TAMC
Moss, Levy & Hartzheim
GAAP standards
Issued by Comptroller General of the United States
What are GAAP
Standards?
Inquiries of management regarding the methods of preparing the information & comparing the information for consistency with management’s responses
Moss, Levy & Hartzheim-also audit other trust funds for which TAMC has fiduciary responsibility
GAAP-Generally Accepted Accounting Principles

6. Measure X Audits
Audit process
Examination on a test basis, evidence supporting amounts & disclosures in the financial statements
Auditors use judgement on the number of transactions to be examined and tested ensure financial statements are:
Free from errors
No fraudulent reporting
No misappropriation of assets
No violation of laws, govt. regs & agreements

7. Measure X Audits
Audit process
Auditors provide an opinion & written report on the financial statements to express whether fairly presented or not
Also provide a report on internal controls and compliance with agreements, ordinance etc.
Issue statement of fiduciary net position
Statement of changes in fiduciary net position

8. Measure X Audits Allocation of funds Administration costs
Materials and Services
60% to local road maintenance
40% to regional projects and programs

9. Measure X Audits $28,129,899 $17,262,295 $12,475,665 Revenue
July 2017-June 2018
$28,129,899
Expenses & Payouts
$17,262,295
Fund balance
6/30/2018
$12,475,665

10. Measure X Audits Cost New this FY $1750.00
Maintenance of Effort audits by city/county’s independent auditors
Compliance by cities & county with Ordinance audits by city/county’s independent auditors

11. Findings-Cities/County
Measure X Audits
Findings-TAMC
No instances of non compliance
No matters involving internal controls
No material weaknesses
Findings-Cities/County
Partial compliance by some jurisdictions of Maintenance of Effort
Partial compliance by some jurisdictions with Ordinance

12. Measure X Audits
Questions?