Research Triangle Park, N.C. - The Triangle Transit Authority (TTA) has received the Certificate of Achievement for Excellence in Financial Reporting presented by the Government Finance Officers Association (GFOA).

The award recognizes TTA for the highest standards in government accounting and financial reporting in the agency’s Comprehensive Annual Financial report (CAFR).

In announcing the award, General Manager John Claflin praised TTA’s Finance and Administrative Services unit. “TTA has been honored for its financial reporting in a format that is easily readable and efficiently organized. I am also pleased that this is the 11th year that TTA has received the award. We are meeting our goal of responsibly accounting for the taxpayer dollars we receive to plan and operate a regional public transportation system.”

A CAFR includes combined financial statements in a format somewhat similar to the financial statements of a business. It also is used extensively by bond rating agencies, underwriters, and bondholders to assess the investment risk of a government agency.

TTA’s Comprehensive Annual Financial Report is prepared by the Financial Reporting Manager, Geoff Powell. This marks the third year that Powell has been honored for his work in preparing the CAFR for TTA.

TTA is a regional public transportation provider, offering a wide variety of transit and vanpool services to North Carolina's greater Triangle Region and outlying counties. Bus service is available to Apex, Cary, Chapel Hill, Durham, Garner, RDU International Airport, Research Triangle Park (RTP) and Raleigh. The Triangle Transit Authority also provides commuter resources and hosts GoTriangle.org, the on-line resource for public transportation information in the Triangle.

TTA plans to implement a 28-mile rail transit system with 12 stations connecting Durham, RTP, Cary and Raleigh, with shuttles linking RDU International Airport and RTP. The rail transit system is expected to be operational in late 2008. For more information, visit www.rideTTA.org or call (919) 549-9999.