California Code of Regulations › Title 21 - Public Works › Division 3 - California State Transportation Agency › Chapter 2 - Transportation Development [Renumbered] › Article 5 - Responsibilities of Transportation Planning Agency › Section 6661 - Audit of Local Transportation Fund

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Annually and within 180 days after the end of the fiscal
					 year, the county auditor shall submit a report of a fiscal and compliance audit
					 of the financial statements of the county local transportation fund to the
					 transportation planning agency, to the State Controller and, where applicable,
					 to the county transportation commission or the metropolitan transit development
					 board. The audit shall be conducted in accordance with generally accepted
					 auditing standards by the State Controller or by a certified public accountant
					 or public accountant who is not an officer or employee of the transportation
					 planning agency or of any city, county, operator, or county transportation
					 commission within the area of the transportation planning agency and shall
					 include a determination of compliance with the Act and the Administrative rules
					 and regulations. If the county auditor and the regional entity responsible for
					 submitting the audit report for the state transit assistance fund (pursuant to
					 Section 6751) so agree, the audits of the
					 local transportation fund and the state transit assistance fund may be
					 conducted by the same auditor and may be submitted together in one audit report
					 to the State Controller and to the transportation planning agency.
The financial statements shall be prepared by the county
					 auditor in accordance with generally accepted accounting principles. The
					 statements shall include, but not be limited to, (a) a balance sheet, (b) a
					 statement of revenues and expenditures during the fiscal year, (c) a statement
					 of changes in the fund balance, and (d) supplementary schedules as necessary to
					 list or identify (1) the net amounts allocated and the net amounts disbursed
					 during the fiscal year for each of the allocation purposes specified in the
					 Act, (2) any portion of the fund balance that is allocated or reserved, and (3)
					 any interest or other income earned by investment of the fund during the fiscal
					 year. In the financial statements, the local transportation fund shall not be
					 commingled with state transit assistance fund, nor with planning subventions
					 from the Transportation Planning and Development Account, nor with any other
					 revenues or funds of the transportation planning agency or of any city, county,
					 or other agency.
All fiscal and accounting records and other supporting
					 papers related to the local transportation fund shall be maintained for a
					 minimum of four fiscal years following the close of the fiscal year and shall
					 be available for inspection and audit by the State Controller.
1. New
					 section filed 5-7-81; effective thirtieth day thereafter (Register 81, No. 19).
					 For prior history, see Registers 78, No. 6, 77, No. 10 and 75, No.
					 11.
2. Amendment filed 12-31-85; effective thirtieth day thereafter
					 (Register 86, No. 1).
3. Amendment filed 9-1-87; operative 10-1-87
					 Register 87, No. 37).
4. Amendment filed 8-17-89; operative 9-16-89
					 (Register 89, No. 34).
Note: Authority cited: Sections
						99241
						and
						99245,
						Public Utilities Code. Reference: Section
						29534,
						Government Code.