FOR IMMEDIATE RELEASE CONTACT: Lyle V. Harris
November 2, 2009 404.848.3982
Today’s release of the state auditor’s report -- which was ordered by the Georgia General Assembly’s MARTA oversight committee -- only confirms the obvious: There are no deficiencies or improprieties in how the Authority is handling its finances. That’s true despite a glaring lack of state funding that MARTA and other transit providers desperately need to support the thousands of Georgians we proudly serve every day.
Despite the woefully inaccurate allegations that were leveled against MARTA when the audit was requested, the fact is the Authority made a net profit of $15 million as a result of the lease-in, lease-out deals that had been publicly encouraged by federal transit officials and approved by MARTA’s Board of Directors.
As the auditor’s report points out, MARTA has successfully extricated itself from two-thirds of these lease arrangements and is working diligently to resolve those few which still remain in effect. Even in the worst-case scenario, MARTA will wind up with a net profit.
MARTA is pleased, but not surprised, that the state auditor has given us a clean bill of health. We are hopeful that the result of the audit will give MARTA and the Legislature a clean slate upon which to discuss identifying sustainable funding sources for mass transit.
According to a 2007 study conducted by the University of Georgia’s Carl Vinson Institute, the economic activity generated by MARTA has significant statewide impact. MARTA’s presence generates approximately 20,500 jobs and accounts for about $2.1 billion in economic activity.
MARTA matters to all of Georgia and we look forward to working with our state and regional partners to ensure that we continue to follow best practices while delivering high-quality transit services.