March 25, 2013 - 12:38am
AATA accepts annual audit
BY FARONE E. RASHEED
The board of the Ann Arbor Transportation Authority voted to accept the annual audit of its budgetary report for fiscal years 2011 and 2012 last Thursday.
The fiscal reports — which span from Oct. to Sep. 30 of the following year — detail the financial statements, cash flow and revenue and expense reports for the city’s transportation budget on a yearly basis.
Operating expenses totaled $32.45 million, a 9.9-percent increase from the previous year. The increase was primarily due to expanded bus routes, rising fuel costs and the city’s new AirRide shuttle service between Ann Arbor and Detroit Metro Airport, which was implemented in April 2012. The city’s operating revenues, however, also saw a $671,000 increase, reflective of increased ridership.
Miscellaneous deposits and investments by the AATA, summing approximately $9.9 million, were distributed to bank deposits, government liquid asset fund accounts, money-market funds and heating-oil futures.
The report also cites assets totaling $54.2 million, an 11.1-percent increase, resulting from a $6.4 million purchase of ten hybrid diesel-electric buses, a $2.05 million expansion of the bus storage garage and $15.3 million in land and building investments for 2012.
Inclusive in AATA’s expenditures were employee benefits.
Additionally, $871,178 was spent on social security payroll taxes, $1.9 million on medical insurance, $785,717 on pension benefits and $81,784 on post-retirement medical benefits.
