Bus

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

Calif. purchase incentives now available for New Flyer electric buses

The Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project was created by the California Air Resources Board to speed the early market introduction of clean, low-carbon hybrid and electric vehicles and is administered and implemented through a partnership with CALSTART.

REI receives New Flyer's gold 'Supplier' award

The company was recognized for exceeding delivery expectations for the fourth year in a row.

Luxury bus Leap Transit shut down for operating illegally

The startup was recently granted what’s known as the “authority to operate” — a precursor to an official license. But by driving its route between the Marina district and the Financial District without a license, regulators determined that Leap was breaking the law, according to SFGate.

New York MTA bus ridership down

Tens of thousands have been ditching the bus in Brooklyn and Manhattan, while there were modest gains on Bronx and Staten Island routes; Queens had a small decline in ridership, according to the MTA figures. The decline is attributed to traffic congestion and fare hikes.

DC Circulator set to intro new diesel-electric buses

In addition to being more energy efficient, the new buses will have better air conditioning and USB ports for riders to charge their phones.

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

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

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