FOR IMMEDIATE RELEASE
Oversight and Audits Ensure Transparency and Verify Proper use of Public Funds
Transportation Authority of Marin Citizens’ Oversight Committee Releases Annual Report
and TAM Posts Another Year of Clean Audits
San Rafael, Calif., January 31, 2019 – The Transportation Authority of Marin’s Citizens’ Oversight Committee (COC) released their 14th Annual Report highlighting TAM projects and programs and documenting that public funds are being spent in accordance with the directives from Marin County voters.
The TAM COC is comprised of dedicated volunteers representing geographic and special interest sectors from Marin County that meet regularly to review TAM activities and ensure that TAM expenditures are consistent with voter approved transportation funding.
“We are pleased to submit this annual report to provide an update on the many transportation improvement projects underway in Marin, and to verify our fiscal responsibility with regard to those projects,” said Peter Pelham, Chairperson of the COC. “It is important that there is oversight as well as documentation to reassure the community that TAM is accountable to the public and is spending funds on voter-approved priorities.”
The COC Annual Report describes the projects and programs that are funded by Measure A, the ½-cent sales tax approved by voters in 2004 (and renewed in 2018 as Measure AA), and Measure B, the $10 annual Vehicle Registration Fee approved by voters in 2010. Both voter-approved measures are associated with explicit expenditure plans that define how the funds can be spent.
In addition to oversight by the COC, TAM undergoes a variety of independent financial and compliance audits and recently released a Comprehensive Annual Financial Report to provide an easy-to-understand document with the FY 2017-18 financial statement and Single Audit results. Additionally, recipients of funding from TAM must permit independent compliance audits to verify that spending complies with voter approved expenditure plans. These compliance audits are an explicit part of the funding agreement between TAM and agencies that receive funding from TAM. An independent financial audit firm conducted the 2018 compliance audits of six recipients of Measure A funds and reported no instances of noncompliance with the Measure A Expenditure Plan.
Gary Phillips, Mayor of San Rafael and TAM Board member stated, “Fiscal transparency is a critical part of good government, it helps build trust with the public and shows that agencies are being responsible with public dollars. The recent compliance audit shows “no-findings,” a good thing in the world of audits, demonstrating that funds are being spent in accordance with the wishes of the voters. These financial checks-and-balances are important to show TAM’s financial house is in order and those that receive funding from TAM are also spending it as intended.”
Please visit the TAM website at www.tam.ca.gov/resources-news/reports-budgets/ for more information on audits and reports.
About Transportation Authority of Marin
TAM is dedicated to making the most of Marin county transportation dollars and creating an efficient and effective transportation system that promotes mobility and accessibility by providing a variety of high-quality transportation options to all users. TAM administers the expenditure plans for Measure A, the ½-cent transportation sales tax measure passed in 2004 and Measure B, the $10 Vehicle Registration Fee passed in 2010. In April 2019, TAM will begin administering Measure AA, the 30-year renewal and extension of Measure A, passed by voters in November 2018. TAM also serves as Marin’s Congestion Management Agency and is responsible for coordinating funding for transportation projects and programs to improve mobility, reduce congestion, and provide a transportation system with more options for those living, working, visiting and traveling in Marin County. More information is available at www.tam.ca.gov.
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|Li Zhang||Peter Pelham||Dianne Steinhauser|
|TAM Chief Financial Officer||Chair, TAM Citizens’ Oversight Committee||Executive Director, Transportation Authority of Marin|
|[email protected]||[email protected]||[email protected]|