Metro achieves financial milestone with clean audit for fourth straight year

Metro Chief Financial Officer Dennis Anosike today announced another milestone in maintaining Metro’s financial stability with a clean, on-time audit. For the fourth straight year, the accounting firm of RSM US, LLP issued a clean opinion on WMATA’s FY2018 Financial Statements.

“This reflects a lot of hard work over the past year to maintain sound financial controls and reporting,” said Chief Financial Officer Dennis Anosike. “We are committed to ensuring continuing improvement in Metro’s financial position and being a good steward of taxpayer dollars.”

The audit identified two findings; a significant improvement from the FY2014 audit which included 26 findings.

The FY2018 Audit was presented to the Metro Board of Directors Executive Committee today. The independent auditor issued an unmodified opinion or “clean” audit. According to RSM, “the Authority complied in all material respects, with the types of compliance requirements… that could have a direct and material effect on each of its major federal programs for the year ended June 30, 2018.”

In addition, RSM, for the third straight year, issued an unmodified opinion on WMATA’s Single Audit for FY2018.

The single audit is a statutorily required audit of entities that expend $750,000 or more of Federal grants, and provides assurances to the Federal Government about the use of such funds.