Guam – They just established their non-appropriated fund account a couple years ago and already money from the Guam Regional Transit Authority has gone missing to the tune of $55,000, according to the most recent audit by the Office of Public Accountability.
GRTA opened its non-appropriated funds account in April 2016 which is comprised of mainly bus fares. For about a two-year period, the OPA says records show the mass transit agency collected about $212,000. Of that amount, however, about $55,000 was not deposited into the account.
According to the OPA, $41,000 in bus fares reported in the contractor’s report were not accounted for in GRTA’s statements. Once this huge discrepancy was revealed to GRTA, the transit agency then found another $14,000 in credit card and check payments that were not reported by the contractor.
This, the OPA notes, “illustrates that GRTA does not actively monitor and reconcile the contractor’s depsotis to ensure that all GRTA bus fares were deposited.”
In fact, the OPA says GRTA does not have a standard operating procedure to record the transactions. Without such, “GRTA did not have basic controls to address typical risks to cash such as misuse and theft.”
You can read the audit here.