Auditor of State David A. Vaudt today released an audit report on the Heart of Iowa Regional Transit Agency, Des Moines, for the year ended June 30, 2011.
The Agency had revenues of $2,570,947 for the year ended June 30, 2011, a 40% decrease from the prior year. Revenues included $752,503 from federal sources, $502,830 from state sources, $440,794 from local sources and miscellaneous revenues totaling $874,820.
Expenses for the year totaled $2,865,543, a 9% decrease from the prior year. Expenses included $480,683 for state transit assistance, $1,566,418 for federal transit assistance and $818,442 for other expenses.
A copy of the audit report is available for review in the Office of Auditor of State and on the Auditor of State’s web site at http://auditor.iowa.gov/reports/1114-2402-B00F.pdf.