Financial Statement Audits MDTA engaged an independent accounting firm to perform audits of its financial statements for the fiscal years ended June 30, 2021, 2022, 2023, 2024, and 2025. In the related audit reports, the firm stated that MDTA’s financial statements presented fairly, in all material respects, the respective financial position of the business type activities of the MDTA and its changes in financial position and cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America. Special Review - Data Analysis of Electronic Tolling and Customer Service Processes On March 22, 2023, we issued a report on our Special Review - Data Analysis of Electronic Tolling and Customer Services Processes . The report identified approximately $435,000 in potentially improper toll charges to 10,474 Thomas J. Hatem Memorial Bridge discount plan customers and approximately $645,000 relating to 82,847 customers that were potentially charged more than once for a single trip through a toll facility. We reviewed system controls implemented in response to this report and performed various tests of those controls. Our audit did not identify any conditions that warranted inclusion in this report. In addition, our audit disclosed that between September 2023 and April 2024 MDTA issued credits to 12,932 Thomas J. Hatem Bridge discount plan customers totaling $637,000 and $695,000 for duplicate tolls charged to customers. Francis Scott Key Bridge Collapse On March 26, 2024, a container ship collided with the Francis Scott Key Bridge, resulting in the bridge’s collapse. In April 2024, MDTA awarded a $50.3 million emergency contract for the removal, disposal, and cleanup of debris from the collapsed portion of the bridge. In March 2024, prior to awarding a design-build contractor, MDTA made a preliminary estimate to replace the bridge between $1.7 billion to $1.9 billion with a completion date in 2028. MDTA advised us that this estimate was made for the purposes of securing federal funding for the new bridge. In August 2024, MDTA approved the award of a design-build contract for $73 million. Between January and July 2025, MDTA awarded three work authorizations totaling approximately $98 million on the contract for field and subsurface studies, purchasing materials, and conducting tests to ensure that the
5
Made with FlippingBook - professional solution for displaying marketing and sales documents online