Toledo Area Regional Transit Authority's Financial Records "Unauditable"

Friday, January 20, 2012

Columbus – As a result of inadequate financial records, Auditor of State Dave Yost placed the Toledo Area Regional Transit Authority (TARTA) on the “unauditable” list.

“Unavailable records leave unanswered questions,” Auditor Yost said.  “This delay is deeply troubling.”

During the course of the regular financial audit of TARTA for the period January 1, 2010 through December 31, 2010, the Auditor of State’s office determined that the condition of the authority’s financial records were not adequate to complete the audit.  Financial audits are usually completed within six months of the end of the entity’s fiscal year.  In a letter to TARTA, the Auditor of State’s office provided a list of records required to complete the audit.  For example, the authority must still provide reconciliation information, as well as lists of purchases and disposals of fixed assets.

Within 90 days of the date of the letter, TARTA must revise its financial records and provide the necessary data.  Failure to bring records to an auditable condition may result in legal action, including the possibility of the attorney general issuing a subpoena to the comptroller and general manager to explain the condition of records.  The attorney general may also file suit to compel the comptroller and general manager to prepare and/or produce the required information.

The Auditor of State’s Local Government Section (LGS) is available to TARTA officials to assist in bringing records to an auditable condition.  LGS provides a wide variety of services to local governments, including reconstructing financial records and aid in the reconciliation of books.

An entity is removed from the “unauditable” list once the audit is completed and released to the public.


The Auditor of State’s office, one of five independently elected statewide offices in Ohio, is responsible for auditing more than 5,600 state and local government agencies.  Under the direction of Auditor Dave Yost, the office also provides financial services to local governments, investigates and prevents fraud in public agencies and promotes transparency in government.

Carrie Bartunek
Press Secretary