FINANCE

The State of California requires the Ventura County Transportation Commission (VCTC) to prepare annual financial statements in accordance with generally accepted accounting principles (GAAP). The financial statements are then audited by independent certified public accountants. The VCTC goes beyond the minimum established requirements and produces an Annual Comprehensive Financial Report. The Annual Comprehensive Financial Report is designed to provide a complete financial picture of the agency and includes the independent auditors’ report, a management discussion, the audited financial statements as well as supplementary information including budget results and statistical information.

VCTC complies with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. To comply, VCTC prepares an annual Single Audit Report on Federal Awards which is audited by an independent certified public accounting firm.

The Transportation Development Act (TDA) Claims Manual is intended to provide information and guidance to cities, the County, transit operators, and other claimants for submitting claims to request TDA funding from the Ventura County Transportation Commission (VCTC).  These guidelines are not intended to replace the state statutes or regulations pertaining to the TDA.  They are intended to clarify how the TDA is implemented in Ventura County and to assist eligible agencies in completing and submitting their TDA Claim Forms.

Questions regarding the information in this manual should be addressed to VCTC.  Copies of the TDA statutes and California Code of Regulations (CCR) are available on the California Department of Transportation (Caltrans), Division of Mass Transportation website at http://www.dot.ca.gov/drmt/docs/tda/TDA_07-2018.pdf.

Approved on October 11, 2015, Senate Bill 272 adds a section to the California Public Records Act requiring local agencies to create a catalog of Enterprise Systems by July 1, 2016 with annual updates.

The State Controller’s Government Compensation in California website provides information on employee pay and benefits for approximately 2 million positions at more than 5,000 public employers. Public employers annually report employee compensation to the State Controller’s Office. View and search employee job titles, build charts and graphics, and download custom reports and raw data at publicpay.ca.gov

The State Controller’s Government Finance Data website provides annual information on revenues, spending and other financial data of local governments.  There are many reports that can be viewed and downloaded at bythenumbers.sco.ca.gov.  These reports include information for Cities, Counties, Special Districts, Transit Operators and Transportation Planning Agencies, etc