{"id":71511,"date":"2016-05-02T12:10:25","date_gmt":"2016-05-02T19:10:25","guid":{"rendered":"http:\/\/theavtimes.com\/?p=71511"},"modified":"2016-05-02T12:10:25","modified_gmt":"2016-05-02T19:10:25","slug":"avta-recognized-for-excellent-financial-management","status":"publish","type":"post","link":"https:\/\/theavtimes.com\/2016\/05\/02\/avta-recognized-for-excellent-financial-management\/","title":{"rendered":"AVTA recognized for excellent financial management"},"content":{"rendered":"

\"AVTA's
AVTA’s finance team. [contributed]<\/figcaption><\/figure>LANCASTER \u2013 For the third consecutive year, the Antelope Valley Transit Authority [AVTA] has\u00a0<\/span>been recognized for its financial accounting by the Government Finance Officers Association [GFOA]. <\/span><\/p>\n

The transit agency was recently awarded the Certificate of Achievement for Excellence in Financial Reporting for its 2015 Comprehensive Annual Financial Report [CAFR]. This award is the highest form of recognition for financial accounting.<\/span><\/p>\n

AVTA’s CAFR for the fiscal year ending June 30, 2015, was reviewed by selected members of the GFOA professional staff and the Special Review Committee to assure it met the program\u2019s\u00a0<\/span>standards. These include going beyond the minimum requirements of generally accepted accounting principles and preparing comprehensive financial reports that evidence the spirit\u00a0<\/span>of transparency and full disclosure. <\/span><\/p>\n

The GFOA is a non-profit professional association serving approximately 17,500 government finance professionals, and has previously awarded AVTA the Certificate of Achievement in 2008, 2013 and 2014.<\/span><\/p>\n

“One of our highest priorities at AVTA is the practice of prudent financial management,” stated\u00a0<\/span>Board Chairman Marvin Crist. “We\u2019ve made transparency and financial stability a cornerstone\u00a0<\/span>of the way we do business so we will have the resources necessary to invest in our future.”<\/span><\/p>\n

AVTA also recently received a perfect result on its Triennial Performance Review by the Los\u00a0<\/span>Angeles County Metropolitan Transportation Authority (LACMTA). This major audit is LACMTA’s\u00a0<\/span>assessment of a transit agency’s compliance with financial requirements and is required for\u00a0<\/span>AVTA to maintain funding eligibility. <\/span><\/p>\n

The audit examined five areas of AVTA’s operations – compliance requirements, follow-up of prior report recommendations, analysis of program data reporting, performance review and functional review. <\/span>Of the 18 transit agencies in Southern California that underwent this review, AVTA was one of only two agencies to receive a perfect result with no deficiencies.<\/span><\/p>\n

“Our excellent finance team at AVTA has put in a great deal of hard work to develop a financial\u00a0<\/span>accounting system that is top notch and consistently provides financials that meet the highest\u00a0<\/span>standards of communication and accountability to the public,” stated Executive Director Len\u00a0<\/span>Engel.<\/span><\/p>\n

[Information via news release from the Antelope Valley Transit Authority.]<\/span><\/em><\/h5>\n

Previous related story<\/span>: AVTA achieves clean audit report<\/a><\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

LANCASTER \u2013 For the third consecutive year, the Antelope Valley Transit Authority [AVTA] has\u00a0been recognized for its financial accounting by the Government Finance Officers Association [GFOA]. The transit agency was recently awarded the Certificate of Achievement for Excellence in Financial Reporting for its 2015 Comprehensive Annual Financial Report [CAFR]. This award is the highest form […]<\/p>\n","protected":false},"author":1,"featured_media":69450,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[16,10],"tags":[],"_links":{"self":[{"href":"https:\/\/theavtimes.com\/wp-json\/wp\/v2\/posts\/71511"}],"collection":[{"href":"https:\/\/theavtimes.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theavtimes.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theavtimes.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/theavtimes.com\/wp-json\/wp\/v2\/comments?post=71511"}],"version-history":[{"count":0,"href":"https:\/\/theavtimes.com\/wp-json\/wp\/v2\/posts\/71511\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theavtimes.com\/wp-json\/wp\/v2\/media\/69450"}],"wp:attachment":[{"href":"https:\/\/theavtimes.com\/wp-json\/wp\/v2\/media?parent=71511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theavtimes.com\/wp-json\/wp\/v2\/categories?post=71511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theavtimes.com\/wp-json\/wp\/v2\/tags?post=71511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}