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Audit finds financial mismanagement at Metrolink

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Posted: March 9, 2013 12:45 p.m.
Updated: March 9, 2013 12:45 p.m.
By The Associated Press
 

LOS ANGELES (AP) — Auditors say that Metrolink's financial management has been so sloppy that the Southern California commuter rail system might not even be able to detect fraud in its account.

The Orange County Register reports (http://bit.ly/YhVKrm) an audit of Metrolink's books found that some accounts had not been properly reconciled and that oversight could lead to possible irregularities in the financial records, including fraud.

The report comes on the heel of an internal review that found Metrolink could not account for millions of dollars in unpaid bills, and wasn't collecting them.

Metrolink is a $194 million-a-year regional rail commuter system serving Los Angeles, Orange, Riverside, San Bernardino and Ventura counties. The counties split the costs to keep the trains running.

Metrolink officials say they're in the process of fixing the financial system.

 

Copyright 2013 The Associated Press.

 

Comments

Code4: Posted: March 9, 2013 6:28 p.m.

Hold on. You mean to tell me a government agency wasn't balancing their books correctly? Holy cow. I am shocked.


Mropinion: Posted: March 9, 2013 8:06 p.m.

An other example of government efficiency and they want to control and regulate every facet of my life. Just remember this one:
"Any man who thinks he can be happy and prosperous by letting the Government take care of him; better take a closer look at the American Indian."


sreilly11: Posted: March 9, 2013 10:03 p.m.

Can't manage this........anyone thinking the High Speed Rail program will be any more successful.........think again!!!


chefgirl358: Posted: March 10, 2013 10:40 a.m.

Sreilly, you read my mind! How on earth will a project that's probably the most expensive transit project in the history of the state, that runs 10 times farther than Metrolink, be fiscally managed? Oh yeah, it won't!


sreilly11: Posted: March 10, 2013 12:50 p.m.

@chefgirl - fiscally managed? You can't put those two words together in the same sentence with current string of players involved......they will just give you that "Deer caught in headlights" look!!!!


OldReliable: Posted: March 10, 2013 1:03 p.m.

Here we go again... unintended consequences of liberalism.


CastaicClay: Posted: March 11, 2013 11:14 a.m.

A private company operating under a contract. I bet the CEO's are taking bonuses. Unintended consequences of Capitalism.


DMeyer: Posted: March 11, 2013 12:04 p.m.

You bet the CEO's are taking bonuses, and lining the lockets of our elected officials with 'campaign contributions'. The elected officials want to put restrictions on our guns, our diet, our medical care, our tax deductions, our religious beliefs, our kids lives, illegal immigration, and a host of other issues BUT refuse to legislate out the influence money buys. And who's in charge? Think they will address this conundrum??


ohhyaa: Posted: March 11, 2013 2:30 p.m.

"Metrolink officials say they're in the process of fixing the financial system".

1) Funny how no time line is mentioned. So, does this take one month? A Year? Forever?

2) How did it go from the reconcilition of bank accounts to "financial system"?

Sounds like this is going to be just the tip of the iceberg.


sreilly11: Posted: March 11, 2013 2:41 p.m.

HA! Sounds to me like this group is the Titanic and it hit the iceberg ohhyaa..........people going down!!! Please whatever you do, don't throw any life vests.....these morons need to feel those freezing waters!!!!


ohhyaa: Posted: March 11, 2013 4:06 p.m.

Their ship has sunk.



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