The COMET Earns High Marks On Financial Audits, Receives Award For Excellence
(May 11, 2020) Columbia, SC – For two consecutive years, The Central Midlands Regional Transit Authority (The COMET) has received commendation on its financial audits. The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to Central Midlands Regional Transit Authority (The COMET) for its Comprehensive Annual Financial Report (CAFR) for the fiscal year ending June 30, 2018. This was the first year that The COMET has achieved this prestigious award.
“We are indeed excited and encouraged to have achieved this honor,” said John Andoh, Executive Director/CEO of The COMET. “We strive for fiscal responsibility and transparency at The COMET and we’re delighted that our diligence has been recognized.”
A Certificate of Achievement is valid for a period of one year only. Most recently, The COMET contracted with the South Carolina Department of Transportation (SCDOT), Office of Public Transit (OPT). The contract requires The COMET to have an audit performed in compliance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”) or the State of South Carolina Office of the State Auditor and OPT audit requirements. The OPT review revealed substantial compliance with audit requirements.
“We believe that our current comprehensive annual financial report continues to meet the Certificate of Achievement Program’s requirements and we are submitting it to GFOA to determine its eligibility for another certificate,” added Andoh.
The audit for the agency’s fiscal year ended June 30, 2019 and was performed by Harper, Poston & Moree P.A., CPAs.