SRTA FY 2024 25 Audit Opinion DRAFT

The Shasta Regional Transportation Agency (SRTA) FY 2024-25 Audit Opinion Draft is a budget report. Independent auditors checked SRTA's financial records for the year ending June 30, 2025. They found that, except for some issues with government fund records, the financial statements showed SRTA's true financial situation. SRTA's internal records did not have a self-balancing set of accounts for each fund. This made it hard for the auditors to confirm if assets, liabilities, revenues, expenditures, and transfers were properly recorded and classified. Still, the auditors believe they have enough evidence to give their qualified audit opinion. The financial statements include changes from past periods and follow Governmental Accounting Standards Board (GASB) Statement No. 101. These changes do not affect the auditors' opinion. The report also says that SRTA management is in charge of making accurate financial statements and keeping internal controls. The auditors' job was to make sure the statements were correct and to give their opinion. They did not give an opinion on other supplementary information or internal control effectiveness.