SRTA FY 2024 25 Single Audit Report DRAFT

This is a draft of the Shasta Regional Transportation Agency's (SRTA) Single Audit Report for the year ending June 30, 2025. It looks at the agency's finances and how well it follows federal rules. The auditors did not find big problems with how the agency followed federal programs. But they did find two big issues with the agency's internal financial controls. One issue was errors in the accounting records and financial reports. This happened because the agency's accounting system only handles one fund, but the agency has three. The other issue was a lack of separation of duties for journal entries. This raises the chance of mistakes or bad entries going unnoticed. The auditors suggest the agency improve its year-end closing steps and set up a separate review and approval process for journal entries. The agency agreed with these suggestions. The report also shows the agency spent $1,589,079 on federal awards for the year.