FY2017 PROPOSED BUDGET

Washington Metropolitan Area Transit Authority
Proposed FY2017 Budget
Chapter 3
Accounting (ACCT)
• The General Ledger office analyzes, reconciles, maintains, journalizes and reports accounts
receivable, jurisdiction subsidy, inventory, prepaid assets, health and welfare contributions,
pension contributions, workers compensation, retirement accounts, cash accounts,
investments, debts, operating revenue and expense reports for the National Transit Database,
other financial transactions and specific footnotes to the financial statements
• The Accounts Payable office ensures that all payments to vendors, third parties, jurisdictions
and reimbursements to employees are processed timely, accurately, efficiently and in
compliance with the Authority, Jurisdictional and Federal policies and regulations
• The Financial Analysis office analyzes and evaluates costs charged to capital, reimbursable
and new service projects, reconcile funds control in project costing to general ledger and
to provide financial reports to Federal, State and Local Jurisdictions in accordance with general
accepted accounting principles. Coordinates reporting to the National Transit Database, and is
responsible for the preparation of the quarterly financial statements including the Statement of
Net Position, Statement of Revenues, Expenses, and Changes in Net Position, and Statement
of Cash Flow. Coordinates WMATA audits, and is responsible for the preparation of the
Schedule of Expenditures of Federal Awards (SEFA)
• The Financial Systems and Reporting (FSnR) office performs validation of transactions,
bundle/upgrade testing, system configuration and maintenance updates. FSnR maintains the
monthly allocation process and provides financial/budget variance reporting for the Office of
Accounting and its external customers. FSnR also provides direct support for PeopleSoft
external interfaces affecting the modules supported by the office, coordinates equipment and
software requests for the office and provides Intranet support and server maintenance
• Project Costing provides functional support by leveraging the knowledge of financial and
reporting systems, transaction flows, cross-system impacts in order to ensure data integrity.
Performs on-going review for quality assurance to ensure that financial information is
accurately reported and conveyed in the PeopleSoft Financial Systems
• The Asset Management office provides overall management responsibilities, policies and
procedures governing the accountability and control of WMATA’s nonexpendable personal
property which meets WMAT’s current capitalization criteria.
Office of Management and Budget Services (OMBS)
• Supports the implementation of Metro’s Strategic Plan by aligning resources with actions and
strategies to deliver the Mission and Goals of the Strategic Plan
• Plans, coordinates, develops, executes, monitors, and advocates for Metro’s multi-year budget
and six-year CIP
• Provides accurate and timely information, analysis, reports and makes recommendations to the
organization, the GM/CEO, the Board of Directors, and funding agencies
• Provides the organization with the analytical tools to facilitate optimal management,
performance and delivery of Metro’s Operating and Capital budgets, services, and programs
• Ensures compliance with all federal grant regulations
• Provides long-range financial forecasting and revenue projections
Treasury (TRES)
• Manages the fare media sales and distribution functions to provide for an effective and optimal
process and organizational structure
• Collects and processes revenues in an efficient and cost effective manner
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