MEMORANDUM
TO:
MDTA Finance & Administration Committee
FROM: Director of Finance Chantelle Green SUBJECT: Independent Auditor’s Report for the FY 2025 Financial Statements Audit & SOC 1 Type 2 & SOC 2 Type 2 Reports DATE: November 13, 2025 PURPOSE OF MEMORANDUM To present the results of the FY 2025 financial statements and Service Organization Control (SOC) audits conducted for the Maryland E-ZPass® System. The audits were conducted by the Maryland Transportation Authority’s independent auditors, SB & Company, LLC (SB& Co.). SUMMARY Regarding the MDTA’s financial statements, the attached presentation includes an overview of the key areas of emphasis, internal controls, required auditor communications, and future considerations. An unmodified opinion was issued by the independent auditor. As it pertains to the SOC audits, exceptions ( i.e. , findings) were noted related to the timeliness of disaster recovery testing (TransCore) and organization and human resources and confidentiality (Kapsch). Irrespective of the findings, unmodified opinions were issued for the SOC 1 Type 2 and SOC 2 Type 2 audits. ATTACHMENT • PowerPoint Presentation – MDTA FY 2025 Financial Statements & SOC Audit Results
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