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Table of Contents <br />Introduction.................................................................................................................................1 <br />AuditObjectives..........................................................................................................................2 <br />AuditScope and Methodology................................................................................................. 2 <br />Commendations & Noteworthy Events.....................................................................................3 <br />Background................................................................................................................................. 4 <br />Who is the Mass Transit Agency?............................................................................... 4 <br />How much does it cost?.............................................................................................. 4 <br />Where can you purchase bus tickets, bus passes, and shared ride taxi coupons? .... 5 <br />How much money does Mass Transit receive in bus and taxi fares? ......................... 5 <br />How many passengers use Mass Transit?................................................................. 6 <br />Whodrives the buses?................................................................................................6 <br />How is bus ridership recorded?...................................................................................6 <br />AuditResults.............................................................................................................................. 7 <br />Cash handling internal controls at Mass Transit are inadequate and ineffective to <br />ensure that revenue is properly controlled and deposits are timely and accurate. <br />As a result, we are unable to determine if cash receipts were complete .................. 7 <br />➢ What did we find?....................................................................................................... 8 <br />Results of our surprise cash count........................................................................ <br />8 <br />Cash was not physically secured.......................................................................... <br />9 <br />Incompatible duties are not adequately segregated............................................11 <br />Independent monitoring is insufficient.................................................................12 <br />Taxi Coupons, Bus Tickets & Passes are sold using purchase orders ............... <br />13 <br />Cash was not deposited timely............................................................................14 <br />➢ What are the consequences?.................................................................................... 15 <br />BusFares............................................................................................................ 15 <br />