Workplan & Budget
Each year, the Solano Transportation Authority (STA) Board identifies and updates its priority projects. Public input is provided through the STA’s public Board meetings. Staff and stakeholder input is provided through the STA Technical Advisory Committee, the SolanoExpress Transit Consortium, and the STA Citizen-Based Advisory Committees.
These priority projects provide the foundation for the STA’s overall work plan for the forthcoming two fiscal years. The STA’s list of priority projects coincides with the adoption of its two-year budget. The STA Overall Work Plan (OWP) for FY 2018-19 and FY 2019-20 adopted on June 13, 2018 includes a list of 47 priority projects, plans, and programs.
On May 8, 2019 the STA Board authorized the release of the Draft OWP for FY2019-20 and FY 2020-21
The STA has an adopted policy requiring a two-year annual fiscal year budget plan. The budget authorizes and provides the basis for control of financial operations during the fiscal year and for multi-year funded projects. The financial plan is presented to the Board for adoption, is revised mid-year and finalized at the end of the fiscal year.
In June 2019, the STA Board adopted a two-year budget for FY 2019-2020 and 2020-2021. The FY 2019-2020 Budget Revision is balanced in the amount of $31.02 million, and the FY 2020-2021 Budget is balanced in the amount of $18.3 million.
Comprehensive Annual Financial Reports (CAFR)
The Solano Transportation Authority (STA) is annually required to prepare an audited financial statement in accordance with Government Accounting Standards Board Statement Number 34 (GASB 34) and the Office of Management and Budget (OMB) Circular A-133 (Audits of State, Local Government, and Non-Profit Organizations).
In October 2018, Vavrinek, Trine, Day (VTD) & Co, LLP, a Certified Public Accountant (CPA) firm from Palo Alto, California VTD performed their FY 2017-2018 annual financial review, funding compliance, and internal controls audit for STA. Their audit evaluation resulted in a thoroughly-prepared audit process noting no matters involving internal control over financial reporting and its operation to be considered of any material weaknesses, which resulted in their issuance of an unmodified (clean) opinion on STA’s comprehensive financial statements for the fiscal year ending June 30, 2018. With the unqualified opinion of the FY 2017-18 annual audit and the third year issuance of the Comprehensive Annual Financial Report, STA now has thirteen (13) consecutive fiscal years of no reportable deficiencies or material weakness that will adversely affect its primary missions.
The STA’s FY 2017-18 CAFR was submitted to the Government Finance Officers Association (GFOA) for its prestigious national award recognition and conformance with the highest standards for preparation of state and local government financial reports.