Cal. Code Regs. tit. 21 § 6664
In accordance with Public Utilities Code Section 99245, a report of a fiscal and compliance audit made by an independent auditor shall be submitted by each claimant within 180 days after the end of the fiscal year, except that the responsible entity, as defined in Section 6663, may grant an extension of up to 90 days as it deems necessary. No allocation shall be made to any claimant that is delinquent in its submission of a fiscal and compliance audit report. The audit shall be conducted in accordance with generally accepted auditing standards of the claimant's financial statements for the fiscal year which shall be prepared in accordance with generally accepted accounting principles. The audit shall also be directed toward obtaining knowledge of the claimant's compliance or noncompliance with the Act, and the auditor shall perform the tasks specified in Section 6666 or 6667, whichever is appropriate.
The audit report shall include, with the financial statements for the fiscal year that is the subject of the audit, the corresponding amounts from the claimant's audited financial statements for the fiscal year prior to the year that is the subject of the audit.
The audit report shall include a certification of compliance with the Act. The certification shall take the form of a statement that the funds allocated to and received by the claimant pursuant to the Act were, with any exceptions specifically noted, expended in conformance with the applicable statutes, rules and regulations of the Act and the allocation instructions and resolutions of the transportation planning agency and, where applicable, the county transportation commission or metropolitan transit development board. An unqualified negative statement (e.g., "no violation of the law was brought to our attention") shall not be accepted. The certification may take the form of negative assurance, however, if it makes reference to the performance by the independent auditor of each of the tasks specified in Section 6666 or 6667.
The transportation planning agency shall provide to the independent auditor, or specify the means by which the auditor may obtain, such information and documents, other than the financial records of the claimant, as may be required to conduct the compliance portion of the audit. The documents shall include, but not be limited to, (a) the allocation instructions or resolutions stating the purposes for which the funds were allocated, (b) the text of the Act and the administrative rules and regulations, (c) the rules, regulations, and procedures of the transportation planning agency, and (d) in the case of transit claimants, the uniform system of accounts and records adopted by the State Controller pursuant to Public Utilities Code Section 99243 including, as necessary, the detailed definitions included in the federal "Uniform System of Accounts and Records and Reporting System," January 1977.
Cal. Code Regs. Tit. 21, § 6664
2. Repealer and new section filed 2-7-78; effective thirtieth day thereafter (Register 78, No. 6).
3. Amendment filed 5-7-81; effective thirtieth day thereafter (Register 81, No. 19).
Note: Authority cited: Section 99241, Public Utilities Code. Reference: Sections 99241, 99245, Public Utilities Code.
2. Repealer and new section filed 2-7-78; effective thirtieth day thereafter (Register 78, No. 6).
3. Amendment filed 5-7-81; effective thirtieth day thereafter (Register 81, No. 19).