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Metro Transit gets clean 2024 audit; commissioners discuss ARPA use, reserves and ridership gains
Summary
Baker Tilly gave Metro Transit an unmodified audit opinion for 2024. Commissioners discussed use of ARPA and other COVID-era funds, a reserve increase, rising fixed-route ridership and implications for future budgeting at the June 19 Waukesha City Transit Commission meeting.
The Waukesha City Transit Commission received an unmodified audit opinion on Metro Transit's 2024 financial statements and discussed the use of federal relief funds, growing cash reserves and ridership trends at its June 19 meeting.
Jody Dobson, partner at Baker Tilly, told commissioners the 2024 financial statements received "a clean or an unmodified audit opinion," and that auditors issued the required AICPA communications with no material entries or corrections. Dobson said there were no findings related to federal grants in the single-audit testing performed at the citywide level.
The audit findings matter because Metro is using federal relief funds to reduce the local share of operations and build reserve capacity for upcoming capital needs, including bus replacements. Commissioners pressed staff on how long the relief funds can be used and how the transit fund accounts for depreciation and debt.
Dobson summarized key financial highlights from the statements: fixed-route ridership rose (approaching roughly 500,000…
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