Audit Reports

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DOT Consolidated Financial Statements for Fiscal Years 2001 and 2000

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We issued an unqualified, or “clean,” audit opinion on the Department’s FY 2001 consolidated financial statements, consisting of balance sheet, statement of net cost, statement of changes in net position, statement of budgetary resources, and statement of financing. These statements show how the Department is spending its funds. We issued a qualified opinion on the Department’s FY 2000 consolidated balance sheet and statement of net cost. In addition to material weaknesses for property accounting and information security, we identified seven FY 2001 issues involving internal control weaknesses and compliance with laws and regulations. While these are important, they did not affect our audit opinion.