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NTTA wins 17th straight GFOA award; external auditor issues clean opinion
Summary
The North Texas Tollway Authority received the Government Finance Officers Association Certificate of Achievement for the 17th consecutive year. External auditors reported an unmodified (clean) opinion and no findings on the authority's 2024 financial statements.
The North Texas Tollway Authority on June 18 announced it had earned the Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting for the 17th consecutive year, and external auditors told the board they had issued an unmodified opinion on the authority's financial statements.
Director Casada presented the award on behalf of the board and said the recognition reflects NTTA's ongoing financial stewardship and transparency. "This is the seventeenth consecutive year that NTTA has performed to the high standards required to earn the Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting Award," Director Casada said. He asked board members to join him in congratulating the finance team.
Michelle Buss, senior manager on the audit engagement, told the board the auditors had issued an unmodified opinion on the financial statements and found no material weaknesses or significant deficiencies in internal control. "We did complete our audit of the financial statements and we have issued an unmodified opinion on the financials, and that means it's a clean opinion," Buss said. She said auditors also had no disagreements with management, no difficulties performing the audit and noted that a new Governmental Accounting Standards Board (GASB) pronouncement related to compensated absences was implemented without a material effect on the statements.
Board members and staff publicly thanked Chief Financial Officer Horatio Porter, Comptroller Brian Wright, accounting manager Lawrence Williams and the accounting team for their work preparing the financial report and supporting the audit. The award and audit results were described by NTTA as evidence that the authority's annual financial report is transparent and that accounting estimates such as allowance for doubtful accounts and investment fair-value measurements were reviewed and tested by the auditors.
No board action was required on the audit report or the award presentation. The board paused for a photo with members of the finance and accounting teams following the announcement.
