Perfect Triennial Audit from Federal Transit Administration

Laketran has received a certificate of achievement from the Federal Transit Administration (FTA) for its Triennial Review. Every three years, as required by law, the FTA examines Laketran’s management practices and program implementation compliance in twenty-three different areas. This is the third consecutive triennial review in which there were no findings in all twenty-three areas of assessment. The Triennial Review is conducted in two stages. The first is a desk review conducted at the FTA Region V Office in Chicago, IL. The second is a site visit when the FTA representative and grantee discuss any outstanding items, examine FTA-funded facilities and equipment, and review any additional documents needed to make a determination. The review concentrated primarily on procedures and practices employed during the past three years, however, coverage was extended to earlier periods as needed to assess the policies in place and the management of grants.

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