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Pages 17-18

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From page 17...
... Although the scope of the audit will vary depending on the size of the subrecipient and the concerns of the Office of Transit, the audit will generally include • a review of internal controls over revenue and expenditures; • a review of financial statements; • a variance analysis on the general ledger accounts; • farebox revenue testing; • contract revenue testing; • expenditure testing; and • inventory records and procurement practices. At the completion of the audit, the Office of External Audits prepares a written report.
From page 18...
... Special requests for audits made by the program area also are accepted and acted upon as appropriate. The following types of audits apply to subrecipients of the Bureau of Public Transportation: • Reviews of federal single-audit reports and other limited-scope audit procedures to monitor grantee compliance with OMB Circular A-133 and other federal-aid requirements • Mass transit audits, consisting of reviews of grantee compliance with provisions of contracts for state projects or for state matching agreements on federal grant projects and state transit operating assistance audits Appendix C contains examples of monitoring letters and audit closeout letters used by the New York State DOT to inform subrecipients of an audit and document its activities.

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