Sound Transit earns 9th consecutive clean bill of financial health
The Sound Transit Finance Committee received news today that for the ninth year in a row, independent auditors have given Sound Transit a clean, unqualified report on the agency’s financial health.
“As stewards of public funds, the Sound Transit Board takes its financial responsibilities very seriously,” said Fred Butler, Sound Transit’s Finance Committee Chair and Issaquah Deputy City Council President. “This independent annual financial audit is one of many ways we demonstrate accountability and transparency.”
The 2006 annual financial audit, conducted by KPMG LLP, found no reportable conditions or material weaknesses involving internal control, and no instances of non-compliance required to be reported under Government Auditing Standards. The agency complied in all material respects required by the major federal programs that provide funding for Sound Transit’s capital programs. Independent audits of Sound Transit’s financial statements have been conducted annually since 1998.
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Sound Transit’s regional network of express buses, commuter rail, light rail and transit facilities connects communities in King, Pierce and Snohomish counties.