2019 Budget and Audit
The 2019 budget is built on the three-year vision recently established by the KCATA:
- Be fully adapted from a bus agency into a regional Transportation Authority.
- Be the region’s premier mobility resource.
- Manage a host of innovative funding models that enable sustainable operations.
Comprehensive Annual Financial Report (CAFR) for 2019, submitted for Certification by the Government Finance Officers Association - GFOA Certificate of Achievement for Excellence in Financial Reporting
Annually, an independent audit is performed to review the KCATA internal financial systems and grants program compliance, based on guidance from the Federal Transit Administration. The audit checks KCATA for conformity with Generally Accepted Accounting Principles (GAAP) and compliance with Governmental Accounting Standards Board (GASB) pronouncements. The audit is comprised of multiple components including financial statements, union and salaried pensions, grant compliance and the National Transit Database reports.
The accounting firm of RSM, US LLP performed the audit of the KCATA financials and has issued an unmodified opinion for the year ended December 31, 2019, meaning that, in the auditor’s opinion, the financial statements fairly represent KCATA’s financial position and results of operations and cash flow.