Auditors give CRTPA unmodified opinion; single finding for prepaid expense timing

James Moore & Company presented its annual audit to the Capital Regional Transportation Planning Agency on Sept. 16 and issued an unmodified (clean) opinion on the agency’s financial statements, the auditor said. The auditing manager, Christy Battles of James Moore & Company, told the board the audit produced no uncorrected adjustments and no findings in the single‑audit compliance testing. However, the firm reported one internal control deficiency related to timing: an expense paid in July (about $75,000) included three quarters of expense that fell outside fiscal year 2024 and required an adjustment to move revenue recognition into the next fiscal year. The audit team characterized the issue as a material adjustment that led to the written finding but said staff had already implemented steps to avoid repetition. Suzanne (CRTPA finance staff) introduced the audit and noted the finance department will better identify prepayments at closeout. Battles told the board the auditors appreciated the cooperation of CRTPA staff and described plans to start the next year’s audit earlier to meet deadlines. Board action: Commissioner O'Keefe moved acceptance of the audit report and the board approved the report by voice vote. Discussion only: commissioners thanked staff and finance personnel (including Patrick Poiman) for their work compiling the statements and responding to audit requests. Formal action: board accepted the audit and accompanying financial statements.