SamTrans releases citizens oversight committee audit

The annual report was published from the San Mateo County Transit District (SamTrans) Measure W Citizens’ Oversight Committee (COC), which reports on the expenditure of Measure W funds in Fiscal Year 2021.

The independent audit conducted by the district and the COC’s report are required by Measure W to provide additional accountability.

The COC found that the independent auditor’s report appropriately presents the Measure W revenues and expenditures for the period ending June 30, 2021. The COC also was supportive of the process by which the audit was conducted and with the outcomes.

The district’s annual audit report of Measure W tax proceeds for FY21 was provided on Feb. 17, 2022, by Eide Bailly, LLP, an independent accounting firm. This firm has several years of experience in conducting independent audits of the financial results of both SamTrans and the San Mateo County Transportation Authority (TA).

In its audit, Eide Bailly, LLP provided an unmodified opinion on the Measure W financial statements as prepared by district staff. The COC held a public hearing on the audit report back in March.

In 2018, San Mateo County voters approved Measure W, a half-cent sales tax that provides a revenue source to SamTrans and the TA. The Measure W ordinance requires the district have an independent auditor annually review the receipts and expenditures of tax proceeds under the Congestion Relief Plan.