Audit & Finance Subcommittee
The Martha’s Vineyard Transit Authority Advisory Board Audit and Finance Subcommittee met Friday, March 30, 2018 at 9:30 AM in the offices of the Transit Authority, 11 A Street, Edgartown. Present were Lenny Jason (Chilmark) and Lou Paciello (Edgartown). Also present were Angela Grant (VTA) and Lois Craine (VTA).
The meeting was called to order at 9:30AM.
Meeting Minutes January 5, 2017
Mr. Paciello moved to accept the minutes of January 5, 2018 and Mr. Jason seconded. M/s/c
FY 2019 Budget
A draft budget of $5,994,564. for FY 2019 with prior year comparisons was distributed. Ms. Grant noted an overall increase of 2% and explained that a parts inventory value discrepancy in FY 17 following software updates and noted by auditors will be resolved with a prior period adjustment. Mr. Jason moved to approve the budget amount of $5,994.564. for FY 2019 and Mr. Paciello seconded. M/s/c. Ms. Grant noted that final FY 2019 figures still depend on the Mass Legislature restoring some of the $300,000 shortfall in State Contract Assistance.
The meeting adjourned at 9:57A
Documents
- Meeting Minutes January 5, 2018
- Draft financials through February, 2018
- Draft Budget FY 2019