CLICS/CLICS2020A/commsumm.nsf
PUBLIC
BILL SUMMARY For PRESENTATION FROM THE OFFICE OF THE STATE AUDITOR PURSUANT TO THE SMART ACT
JOINT COMMITTEE COMMITTEE ON JOINT SENATE TRANSPORTATION AND ENERGY AND HOUSE TRANSPORTATION AND LOCAL GOVERNMENT
Date Jan 8, 2020
Location Old State Library
Presentation from the Office of the State Auditor Pursuant to the SMART Act - Committee Discussion Only
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02:12:37 PM |
Monica Bowers and Trey Standley, both representing the Office of the State Auditor, presented a summary of a recent performance audit for the Colorado Department of Transportation (CDOT) (Attachment A). The findings of the audit included issues with the completeness and transparency of the department budget plan; the closing of construction projects and release of funding within required timeframes; lack of internal fraud identification and control measures; and contracts. The audit recommended including necessary information in the department budget,such as planned spending and revenue, and regular analysis of budget to actual figures based on budget categories; implementing policies and processes to regularly analyze vendor and payment data for potential fraud; developing reports and implementing policies and processes to evaluate timeliness of construction project closure and release of unused funds; and implementing controls over cost, duration, and scope of work in master task order contracts. The department has implemented recommendations.
Attachment A
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02:16:50 PM |
Mr. Standley responded to committee questions.
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