The Transportation Corridor Agencies (TCA) recently performed a scheduled and routine internal audit of invoice accounts payable focusing on processing procedures and controls. TCAs Internal Audit team serves as an objective review function to examine and evaluate the Agencies operations.
As part of this audit, TCAs internal auditor reviewed two high-profile communications contracts “ Contract No. K000983 with Venture Strategic and Contract No. K001162 with Curt Pringle and Associates.
Findings from the audit showed the following:
Contract No. K000983
- Venture Strategic underbilled $13,020 by assigning incorrect billing rates to Venture Strategic staff members and subconsultant staff members.
- Out of more than 11,000 entries, TCA identified a total of 13 duplicate billing entries for a total of $8,336 in overbilling.
- Therefore, the findings determined a net underbilling of $4,684 to TCA.
Contract No. K001162 “ The findings showed no evidence of billing discrepancies.
After evaluating the audit findings, TCA immediately requested that Venture Strategic submit an adjusted invoice correcting the errors.
As a result, TCA management will implement improvements, including simplifying Venture Strategics invoice format.
TCA is the government agency responsible for planning, designing, financing, constructing and operating Orange Countys 51-mile toll road network “ State Routes 73, 133, 241 and 261. Orange Countys Toll Roads record more than 325,000 daily transactions and have nearly 1.5 million ExpressAccount and FasTrak accountholders.
Sarah Swensson King