Audited Financial Statements 1984-1983

Cover Audited Financial Statements 1984-1983
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In order to determine that these records are complete and accurate, a detailed study of the available supporting documentation must be made. Though the CTA considers it desirable that such a study be made, the lack of available resources and the commitment to perform tasks having higher priorities have led the CTA to determine that it is not practicable to initiate such a study at this time. In the opinion of management any adjustment resulting from such a study would not be significant.
As of
...December 29, 1984, the CTA has capital grant contracts with the federal Department of Transportation, Urban Mass Transportation Adminis- tration (DOT-UMTA) and with the State of Illinois Department of Transpor- tation (Illinois DOT) under the Transportation Bond Act for approximately $1,127 billion. Under these contracts the CTA is acquiring additional motor buses and rapid transit cars, as well as renewing and improving various portions of track structures and related operating systems. It is anticipated that DOT-UMTA will finance approximately 80% of the total cost of these projects, with the balance of the cost being financed principally by the State of Illinois.

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