Renew atlanta and TSPLOST Review of expenditures - December 2018

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Renew Atlanta and TSPLOST—Review of Expenditures
​​Released December 2018

Download the Full Report here

We undertook this audit pursuant to City Council's request in resolution 18-R-3297. Our objectives were to answer the following questions:

• What Renew Atlanta & TSPLOST projects have been completed or are currently in progress and how much has been spent on them, including projects paid for with the Renew Atlanta bond premium?
• What are the total expenditures to date and remaining balances in the Renew Atlanta bond, TSPLOST, and Renew Atlanta bond premium funds?
• Do project lists and expenditures match across Renew Atlanta/TSPLOST internal documentation, Oracle, and the public website?
• How do current project lists differ from the legislated project lists in resolutions 15-R-3527 and 16-R-3712?
• Do projects not on the legislated lists, including projects paid from the Renew Atlanta bond premium, qualify for bond and/or TSPLOST funding?

We found that as of July 31, 2018:

• A plurality of Renew Atlanta projects were in close out; 54% were either under construction or in close out
• 65% of Renew Atlanta funds had been spent or encumbered
• The Renew Atlanta Bond premium supplemented other projects and funded work by our office
• 63% of active TSPLOST projects were in construction procurement
• 9% of possible TSPLOST funds had been spent or encumbered
• 205 out of 228 legislated Renew Atlanta projects were on the active project list
• Changes to project lists appeared consistent with requirements
• Oracle records and Renew Atlanta/TPSLOST records reconciled, which was an improvement from inconsistencies found in our earlier audit