The U.S. Department of Transportation (USDOT) has received its 10th consecutive clean, also known as unmodified, audit from independent auditors.
The Office of the Chief Financial Officer and Assistant Secretary for Budget and Programs released the details in the FY 2016 Agency Financial Report (AFR).
“Our nation continues to face a critical transportation infrastructure deficit, and it is essential that we get the most out of every dollar,” says Transportation Sec. Anthony Foxx. “Taxpayers have a right to expect that their money will be managed responsibly, effectively, and transparently, and I’m proud that for the tenth year in a row, DOT has met the highest standards for financial excellence. I commend our Chief Financial Officer Shoshana Lew, the Chief Financial Officers of our Operating Administrations, and our entire financial management team for the hard work that went into this milestone.”
For FY 2016, the agency had a budget of $76 billion and the AFR provided highlights of all the activities funded by the agency, as well as actions such as the passage of the Fixing America’s Surface Transportation (FAST) Act and the creation of the Build America Bureau.
“Timely, accurate, and transparent financial information is critical to supporting all of our Department’s successful activities,” says Shoshana Lew, USDOT chief financial officer and Assistant Sec. for Budget and Programs. “We are proud to reach ten consecutive years of clean audits, and our team at DOT will continue to serve as good stewards of taxpayer dollars by sustaining and enriching the Department’s financial health, improving business processes, and increasing data transparency and reliability for the future.”
Details of the AFR are available here.