Audit & Finance Subcommittee

The Martha’s Vineyard Transit Authority Advisory Board Audit and Finance Subcommittee  met Friday, June 16, 2017 at 9:00 AM in the offices of the Transit Authority, 11 A Street, Edgartown. Present were Lenny Jason (Chilmark), Lou Paciello (Edgartown). Also present were Angela Grant (VTA) and Lois Craine (VTA).

The meeting was called to order at 9:01AM

Meeting Minutes February 10, 2017

Mr. Jason moved to accept the minutes of March 17, 2017 and Mr. Paciello seconded.

Financials through April 2017

Ms. Grant reported that FY17 is expected to finish on budget.  There was an increase in Capital funding including buses and in purchased transportation reflecting added service hours on routes 1 and 13.  Fuel costs saw a rise of 3c per gallon and OPEB payments decreased after auditing.

The meeting adjourned at 9:15AM