New Audit Announcements
Audit Initiated of FTA Grantee: the Metropolitan Transit Authority of Harris County, Texas
Since fiscal year 2011, the Federal Transit Administration (FTA) has awarded the Metropolitan Transit Authority of Harris County, Texas (METRO), approximately $1.3 billion, including nearly $866 million in capital funding for two rail transit projects. In House Report 114-129, issued in May 2015, the House Appropriations Committee directed us to conduct a financial solvency audit of METRO that includes a stress test to determine whether the Agency has adequate finances to pay for new rail line construction as well as operation and maintenance of existing rail lines and buses. To comply with this request, we are announcing to FTA that we will be auditing one of its grantees. Accordingly, our objective is to evaluate METRO’s financial condition and capacity, including its ability to fund new services while maintaining current operations.