Washington Metropolitan Area Transit Authority (WMATA) – Financial Reporting & NTD Compliance

Challenge: 

WMATA, one of the largest transit systems in the U.S., required enhanced support for financial reporting, National Transit Database (NTD) compliance, and internal audit readiness. Complexities included integrating data across departments, preparing timely submissions, and ensuring alignment with FTA reporting expectations. 

Solution: 

IBS was engaged to support the Office of Accounting and Financial Reporting with: 

• Comprehensive review and validation of NTD data submissions 
• Development of internal workplans for timely year-end close 
• Preparation of Detailed Financial Analysis (DFA) reports 
• Facilitation of documentation for external audit and internal controls testing 
• Support with the Comprehensive Annual Financial Report (CAFR) process 

Impact: 

• Strengthened audit trail and documentation for key financial processes 
• On-time, compliant NTD submissions meeting FTA standards 
• Improved interdepartmental coordination for year-end reporting 
• Enhanced performance visibility for transit funding and grant support