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Valley Metro's management is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of METRO are protected from loss, theft, or misuse and to ensure that adequate accounting data are compiled to allow for the preparation of financial statements.
With the agency integration of Valley Metro and Valley Metro Rail, the budgets for each agency are developed with a unified staffing plan but are maintained as two separate financial entities, with fund and project accounting to segregate revenues and expenses. Each Operating and Capital Budget has been prepared with the goal of delivering a fiscally prudent, balanced budget. FY 2006/2007 was the first full year of Proposition 400 Public Transportation Fund revenues; FY 2005/2006 reflected only five months of PTF revenues.
