Audit finds MARTA did not mishandle finances

Posted on November 3, 2009

On Monday, the state auditor's report, which was ordered by the Georgia General Assembly's Metropolitan Atlanta Rapid Transit Authority (MARTA) oversight committee, found that there are no deficiencies or improprieties in how the agency is handling its finances.  

Despite the "woefully inaccurate allegations that were leveled against MARTA when the audit was requested," the agency made a net profit of $15 million as a result of the lease-in, lease-out deals that had been publicly encouraged by federal transit officials and approved by  MARTA's board of directors, according to the agency. 

The auditor's report pointed out that MARTA has successfully extricated itself from two-thirds of these lease arrangements and is working diligently to resolve those few which still remain in effect. Even in the worst-case scenario, MARTA will wind up with a net profit.

In a press release, MARTA said it is "pleased, but not surprised, that the state auditor has given us a clean bill of health," and that they are hopeful the results of the audit will give it and the state legislature a clean slate "upon which to discuss identifying sustainable funding sources for mass transit."




View comments or post a comment on this story. (0 Comments)

More News

Fla.'s JTA unveils first of new Gillig CNG buses

Each bus is custom made to JTA specifications and arrives with specific branding. The sleek, aerodynamic design incorporates a raised, raked-back front cap blended into a full length, contoured roofline. Its modern profile makes a distinguished statement.

Va. woman struck by bus awarded $4.5M

The driver had reportedly been in four other accidents in the previous 18 months but was allowed to stay behind the wheel.

Fla.'s HART partners with Megabus.com to pilot service option

The agency is already providing enhanced routes and options through a unique 5-year partnership agreement with Megabus.com which began last year, to offer express travel to and from Miami and Orlando for as little as $1.

BusCon 2015 takes Indy by storm with new vehicles, tech and education

The 20th installment of the show featured more than 50 new exhibitors, 70-plus vehicles and plenty of information to inspire attendees.

House moves to delay PTC deadline

A bipartisan measure has been introduced in the lower chamber that would push back the deadline for most railroads to install automated train technology until December 2018.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment



Work Truck Magazine

The resource for managers of class 1-7 truck Fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close