Dear Editor,
No reliable or trustworthy audit can be had from the Valley
Transportation Authority
Dear Editor,
No reliable or trustworthy audit can be had from the Valley Transportation Authority because, unlike true “businesses” which are required by Corporations Code Section 114 to be completely truthful when compiling their financial reports, transit agencies in California are not required to use Generally Accepted Accounting Principles.
So VTA does what Enron’s management did with “off-book” capital and fixed costs, thereby concealing the true extent of VTA’s insolvency and growing dependence on taxpayer dollars.
Joe Thompson, Gilroy
