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Independent auditors give CTA a clean opinion; finance staff present April results and a $3.35M CIP true‑up
Summary
Independent auditors reported unmodified (clean) opinions on CTA's 2024 financial statements and compliance with major federal programs; finance staff reported April results and presented a $3.35M CIP amendment for FY2025 FTA formula funds.
Independent auditors told the Board's Finance, Audit and Budget Committee they issued unmodified (clean) audit opinions on the Authority’s 2024 financial statements and the federal programs tested, and CTA finance reviewed preliminary April operating results and proposed a small amendment to the 2025 capital improvement program.
Auditors and federal compliance: Christine Torres of Crowe and Anna Austan (Adelphia, DBE subcontractor) reported the annual financial and single‑audit work for the year ended Dec. 31, 2024. Torres said Crowe issued an unmodified opinion on the financial statements and found no reportable findings under government auditing standards. Austan reported Crowe issued an unmodified opinion…
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