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Added:  Sunday, May 03, 2009

Coast RTA Receives
Unqualified Audit Opinion

The Waccamaw Regional Transportation Authority (Coast RTA) Board of Directors has approved the Agency's 2008 A-133 Annual Independent Audit Report. The annual report includes an unqualified opinion of the Coast RTA financial statements from the independent accounting firm of McGregor & Company, LLP.

The financial statements cover the period from July 1 2007 to June 30, 2008 and represent the third consecutive year of an unqualified opinion.

An unqualified opinion is the highest possible independent audit standard and means that an independent auditor has determined an organization has appropriate procedures and control objectives placed in operation and they were effective during the review period.

"This unqualified opinion is a very significant achievement for Coast RTA," stated General Manager Myers Rollins Jr." "The report also notes that we must continue to work on strengthening a few internal controls and steps are being taken to address those issues," Rollins continued.

"As we look at 2009 and beyond, I am confident we now have in place a management structure and the internal financial controls that will position us to make a case for a dedicated recurring source of revenue," Rollins concluded.

Copies of the Coast RTA annual audit opinion are available under the Freedom of Information Act and can be purchased for $5.00. Requests should be in writing to Finance, Coast RTA 1418 Third Avenue, Conway, SC 29526 or e-mail info@coastrta.com.

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