Frank has over than 12 years of experience in the transit industry for FTA Financial Management Oversight Program (FMO), half of which were leading projects involving full scope system reviews of Financial Management systems at Transit Agencies, reviews of Cost Allocation Plans, and special assignments to investigate/follow up on prior reported conditions/findings as requested by FTA.
In this role, Frank examined and reported on management’s assessment of the effectiveness of internal control over financial reporting. Examinations include evaluating the design as well as operating effectiveness of a financial management system. Reports complied with applicable Statements on Standards for Attestation Engagements and were accepted as submitted to FTA.
As Project Manager, Frank managed four to six reviews, with staffs of three to five, annually for the FTA under their Financial Management Oversight (FMO) program. These reviews involved the assessment of the financial management systems and the related internal controls using the financial management systems standards of the “Common Rule” (49 CFR Part 18).
Frank also prepared reports for FTA and Grantee management identifying findings and required corrective actions on complex transit issues and communicated policies effectively to personnel with varying levels of knowledge of the subject matter.
Key accomplishments: A representative listing of issues identified and reported upon at transit agencies throughout the US is as follows:
- Non-compliant contracts in claimed preventive maintenance costs. Proposed revision to cost accumulation methodology that appropriately supported grant funding.
- Error in allocation of categories of covered and non-covered costs billed by contracted service provider.
- Insufficient due diligence in piggy-backing contracts initiated by other grantees or state agencies.
- Insufficient procedures for verifying the revenue offset component in a bus operations contract.
- Inappropriate indirect costs in cost allocation plan proposal in order to be in compliance with 2 CFR 200.
- General inexperience of grantee personnel with grant funding requirements and restrictions.
Frank and his wife of 45 years enjoy traveling to interesting sites throughout the globe, hanging out at the Jersey shore with extended family and scrambles format team golf.